U.S. SAVINGS BONDS
Kingsborough Community College participates with City University in the New York City U. S. Savings Bonds Program.
U.S. Savings Bonds offer simple, safe and a habit-forming way to save through the automatic payroll savings plan. Participation can begin immediately with as little as $5.00 per paycheck or as much as you want. U.S. Savings Bonds have many benefits including:
Interest and principal are fully guaranteed. Bonds will be replaced if lost, stolen or destroyed.
U.S. Savings Bonds are exempt from State or local taxes. Federal tax payment on the earned interest can be deferred until you cash in the Bond.
Bonds can be easily cashed at any local bank.
Savings Bonds carry the full faith and credit of the U.S. Government.
All the paperwork is done for you. Deductions are systematically made from each paycheck. Your one-time signature on a form is all that is needed.
Series EE Savings Bonds now pay a variable, market-based rate of interest. Bond owners are guaranteed not to be left behind when market yields are high, as at times of high inflation, and when market yields drop. Savings Bonds owners are protected by a minimum guaranteed interest rate. You are protected both ways.
Anyone interested in participating in the U.S. Bond program should contact Detrice McPhatter at extension 6525, Room P203 to obtain the necessary forms.