Good morning shipmates, Who here has bought savings bonds for thier unit to distribute?? Ive been to the government's savings bond site, but they are only set up for individual accounts, not group or organization. Is there a way to procure them "in house"?
The Treasury has made it hard to buy savings bonds . Your unit will have to have a Recognition Program Instruction in order to buy the bonds. Your servicing ISC should be able to help you develop one. Here is the notice that was put out a couple of years ago about buying bonds.
Below goes along with the COCO Alert posted by FlynnPatrick.
POLICY/PROCEDURES: All requests to purchase savings bonds must be routed through CG-85, the Purchase Card Program Manager. The Purchase Card Program Manager is responsible for ensuring that the Merchant Category Code (MCC) for the purchase of savings bonds is unblocked at the time of purchase. The MCC associated with the purchase of savings bonds is the same MCC assigned to obtaining a cash advance. A cash advance is an unauthorized transaction under the DHS/USCG Purchase Card Program. Accordingly, the Purchase Card Program Manager is authorized to lift blocked MCCs. All requests to purchase savings bonds must be submitted to the Purchase Card Program Manager, by e-mail, a minimum of two business days prior to the purchase date. The Purchase Card Program Manager will respond by e-mail to let the requester know that the MCC has been unblocked and the purchase of the savings bond(s) can take place. In addition, all requests must be routed through the unit's Organizational Program Coordinator (OPC). The following information must be provided in the request: ( 1) Name of cardholder, (2) Last six digits of cardholder account number ( 3) Name and address of financial institution; (4) Number of bonds to be purchased and actual purchase price, and (5) Anticipated date of purchase. At the time of purchase, the cardholder must ensure that the financial institution calls US Bank for the authorization code. The customer service number for obtaining the authorization code at US Bank is (888) 994-6722. The information contained in this COCO Alert is to be used in conjunction with the policy and procedures provided in COCO Alert 05-37.
