Redeeming a Savings Bond

Screen ID: 

Screen Title: 

Panel Number:

UBOND-01

Savings Bond Redemption

5138

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Access this screen by selectingTool #913: Update Savings Bond Information (Shortcut:svbond).

These screens are used to record the redemption of a savings bond for a member or non-member. For complete information on using these screens, refer to the separate Tracking Savings Bond Redemption Activity with CU*BASE booklet.

This is the first of two screens used to record the principal and interest amounts of a savings bond redemption, as well as to make modifications to bond redemption information recorded previously during the year.  Depending on your credit union’s policy, you may use this screen for members as well as non-members.  All data is recorded under the individual’s Social Security number for tax reporting purposes.

  • NOTE:CU*BASE does not allow entry of a new record for the previous year. Maintaining a record from the previous year will affect inquiry only. The tax file must be updated for tax reporting.

Enter the individual’s account number (leave the field blank for all non-members) and Social Security number. If you are modifying an existing transaction, enter the Sequence Number for the transaction to be edited, and specify whether or not it the transaction is for the previous year.

Verify your Employee ID, and then use Enter to proceed to the second screen.  

Go Back to a Previously-Used Account

If you want to access a membership you used recently, click the lookup next to the Account base field. The Your Most Recent Accounts Accessed pop-up window will appear.

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  • NOTE:  If a new non-member SSN is entered, a “Non-Member Information” screen will appear first to allow you to enter the member’s name and address into your credit union’s non-member database.  After entering this data, use Enter to save the record and proceed.

  • The Sequence Number is simply a sequential number (01, 02, 03, etc.) assigned to each transaction made throughout the year; if the member has redeemed three bonds and a change needs to be made to the second bond redeemed, enter “02” as the Sequence Number.

  • Up to 99 individual bond redemption transactions can be recorded under each SSN for each tax year.  If more than 99 transactions are required throughout the year, it is recommended that multiple transactions be combined into one as needed.