U.S. Savings Bonds (Series EE and Series I) may be purchased through a direct deposit allocation with Treasury Direct. Savings Bonds are backed by the full faith and credit of the U.S. Government and provide a safe and easy way to help satisfy long-term savings goals. Savings bonds offer tax advantages as well. For more information, visit U.S. Savings Bonds.
To enroll, first set up an account with TreasuryDirect. Their website has a helpful three step process. Upon establishing your TreasuryDirect account, you will receive an email with an account number. Print the email or write down the account number and follow the steps below:
Sign into MyMadison, under the Employee tab, click on the Direct Deposit link and click on “Add Account”. Please be aware that you are limited to four direct deposit accounts so if you already have four you will need to eliminate one in order to participate with TreasuryDirect through payroll deduction. You must have exactly one “Balance” account. Any changes to that account must be performed by editing the existing account.
Next select an “Account Type”. (Either checking or savings will work.)
Enter the dollar amount you wish to have deducted each pay check and sent to your bond account with TreasuryDirect in the “Amount/Percent” field.
Enter 051736158 as the “Routing Number”, when you tab out of the field “BUREAU OF THE PUBLIC DEBT” will populate beside the routing number. If it does not, go back and correct the routing number as listed above.
Enter the account number that was emailed to you by TreasuryDirect in the “Account number” field.
Enter the number for your “Deposit Order” in the field provided. (The “Deposit Order” field helps you prioritize the order in which your deposit is distributed. For example, the account with a Deposit Order of “1” will be processed first, then “2” and “999” would be last.)
Click the box beside the “Acknowledgement Statement” at the bottom of the page and click the “Save” button to save your changes. You should receive a message stating your direct deposit change was successful followed by an email notifying you a change has been made to your direct deposit information.
Please contact Sherry Willis at 568-8034 or Chris Jones 568-6233 if you have questions about how to establish your direct deposit account in MyMadison.
For more information regarding Treasury Direct and the savings bonds process see FAQ's.