Savings Bond Owners Have a Special Connection with Memorial Day, Indicates SavingsBonds.com
Savings bond owners have a special connection with Memorial Day, indicates SavingsBonds.com. A patriotic thread binds bond owners with the traditional American holiday.
Spring Lake, NJ (PRWEB) May 22, 2013
Americans usually associate Memorial Day with a kickoff to the summer season and a long weekend spent barbequing and gatherings with friends and family. However, many savings bond owners have a more meaningful, patriotic, connection with the holiday. While many owners purchased savings bonds for their safety and security features, millions obtained savings bonds to support America during times of war.
According to Wikipedia, Memorial Day originated after the American Civil War to commemorate the Union and Confederate soldiers who died in the Civil War. By the 20th century Memorial Day had been extended to honor all Americans who have died while in the military service. The preferred name for the holiday gradually changed from 'Decoration Day' to 'Memorial Day', which was first used in 1882. However, the celebration of Memorial Day did not become common until after World War II.
Some of the first U.S. Savings Bonds issued were called War Bonds. In 1941, Franklin D. Roosevelt announced a new "Defense" savings bond (also know as the Series E bond) and invited all Americans to join him in "one great partnership". In the mid 1940's, the US Finance Department had given 85 million savings owners a reason to believe that they too had helped win the war by purchasing US Savings Bonds.
Savings bond sales soared to support the military, especially during war times. In July, 1942, over 500 national consumer magazines had printed the same design of an American flag with a US War Bond as a symbol of support of the War Bond program. From May, 1941 through December, 1945, more than $54 billion worth of War Bonds were sold. These bond sales were a key factor in financing World War II.
During the Vietnam war era in the late 1960s and following the 2001 terrorist attacks, various names were assigned to bonds, including Freedom Shares and Patriot Bonds". They, too, were designed to help promote the sale of savings bonds to support Americas defense programs.
For over seven decades, savings bonds have been viewed as a patriotic investment and a way to support our country. Owners take pride that they played an important role in American history by purchasing savings bonds. For this very reason, many Americans, especially seniors who supported our country during several different wars, feel an emotional attachment to their savings bonds, especially during a traditional American holiday.
SavingsBonds.com is a consumer friendly site offering a free Savings Bond Calculator with a complimentary, personalized, color-coded, Savings Bond Inventory Report and unique reports and services that help bond owners avoid losing money and maximize their investment. The site also offers the most extensive savings bond information center with a non-governmental perspective. Current series EE and I bond rates, lost bond services and re-issue services, links to purchase savings bonds online and popular government forms are also available.
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SavingsBonds.com VIP Members receive bi-monthly emailed alerts which provide updated cash in values, interest rates and earnings, strategies about current and upcoming financial events, including maturity and taxation issues. The Cash In Report ranks bonds in performance order to eliminate guesswork on which bonds should be cashed in and which ones to hold. Members have 24/7 access to a personalized Bond Inventory Report indicating current bond values, interest rates, timing, taxation and maturity issues, displayed on an easy to understand, color-coded, bond-by-bond report. Optional Bond Tips, along with discounts on lost bond and re-issue services are included. The pro-active, investor friendly service helps avoid possible forfeiture of interest, double taxation and IRS situations, helps investors maximize their savings bond investment and avoid losing money.