In general, savings bonds are registered securities backed by the full faith and credit of the United States. Savings Bonds are a great addition to your savings portfolio.
Series EE bonds are purchased at a discount (1/2 face value). Interest accumulates and is paid as part of the bond's redemption value when the bond is cashed. Bonds earn interest for 30 years (original maturity is 17 years).
Series I bonds are purchased at face value. Interest on this type of bond also accumulates and is paid at redemption. Bonds earn interest for 30 years (original maturity is 20 years).
Beginning January 1st, 2012 you will no longer be able to purchase bonds at Cheney FCU, but we will still be able to redeem them.
For more information go to SavingsBonds.Gov.