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U.S. Savings Bonds Offered for Sale Online for First Time

September 11, 1997| From Associated Press

WASHINGTON — U.S. Savings Bonds were offered for sale through an online home banking service for the first time on Wednesday.

Community Credit Union in Plano, Texas, offered Series EE bonds to its 8,000 online customers. The credit union's software provider, Digital Insight Corp., plans to offer the option to more than 100 other financial institutions.

The Treasury Department said it is working with another provider, OnLine Resources Inc., to add Savings Bonds to its program. It plans to offer the securities over the Internet later this year, allowing savers to buy bonds with their credit cards.

With online home banking, customers complete an order form on their computer and tell the bank which account to charge. The bond arrives at their home by mail within a week.

"We see home banking as the next step to improving customer service and keeping Savings Bonds a safe, convenient way to save," Treasury Undersecretary John D. Hawke Jr. said.

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