Exploring New Jersey's Other 529 Plan Options.
PRINCETON, N.J. -- Many New Jersey residents might not know it, but there's a great 529 provider based in Princeton. College Savings Bank has been offering 529 plan account holders unique and innovative college saving tools through the Arizona and Montana state-sponsored 529 programs for over 10 years. New Jersey families can choose from any 529 program or product with no state restrictions or limitations from College Savings Bank.
The products from College Savings Bank offer less risk than many other 529 plans. Offering 3 safe investment options, College Savings Bank products include principal protection, FDIC insurance up to $250,000 per depositor* and zero enrollment fees. The CollegeSure CD is a 3- to 22-year, variable rate CD indexed to a measure of college inflation. The InvestorSure CD is a 5-year, variable rate CD indexed to the average increase in the S&P 500[R] and does not risk principal. The Bank also offers a suite of Fixed Rates CDs with 1- and 3-year maturities and competitive rates.
Overall, College Savings Bank has been helping families save for over two decades from their same New Jersey based location. As Program Manager for both the Montana Family Education Savings Program and the Arizona Family College Savings Program, College Savings Bank has opened over 25,000 529 plan accounts since 1998 for families across the nation.
Doing things a little differently than other 529 plan providers may be the key to safe saving for families around the country. Account originations at College Savings Bank increased by 92.5% from 2007 to 2008 and total deposits increased by more than 23%. The Bank continues to see high growth in account originations for 2009 and believes that its conservative products may be key for the environment that the U.S. economy is currently experiencing.
"Much like with all investments today, parents and grandparents are seeking safety in college savings plans. We believe risking money in the stock market has created losses for many recently and college savings is not money families can afford to lose," said Dan Davenport, Chief Marketing Officer for College Savings Bank.
The Bank's first priority is to preserve investor assets, therefore help to protect/safeguard a child's future educational needs. Market conditions cannot affect this pledge to the account holders of College Savings Bank. Families seeking a safer way to save for a future college education can look to College Savings Bank as we are one of the few FDIC insured banks currently offering a 529 plan and the only one that calls the Garden State "home". College Savings Bank offers a combination of various investment options, safe products and no fees, making us a smart choice to fulfill college savings needs for families.
For more information on College Savings Bank's 529 programs and products call 1-800-888-2723 or visit www.collegesavings.com.
*Member FDIC. FDIC deposit insurance temporarily increased from $100,000 to $250,000 per depositor through December 31, 2013.
Before investing in any 529 plan, you should consider the benefits of your home state's 529 plan. It may provide taxpayers with state tax and other benefits that are only available through your home state's 529 plan. You should also consult your financial, tax, or other advisor to learn how state-based benefits (or limitations) would apply to your specific circumstances. You also may wish to contact your home state's 529 plan[s], or any other 529 college savings plan, to learn more about those plans' features, benefits and limitations. Keep in mind that state-based benefits should be one of many appropriately weighted factors to be considered when making an investment decision. Early withdrawal tax penalties apply and non-qualified withdrawals are taxable. The College Savings Bank 529 Plan is not insured by the State of Montana or the State of Arizona. Neither the principal invested nor the investment return is guaranteed by the State of Montana or the State of Arizona. [c] 2009 College Savings Bank. All rights reserved. InvestorSure is a registered service mark of College Savings Bank. S&P 500 is a registered trademark, used with permission, of The McGraw-Hill Companies, Inc. Read the 529 Plan Disclosure Statements carefully before you invest or send any money.
This material is not intended to be used, nor can it be used by any taxpayer, for the purpose of avoiding U.S. federal, state, or local tax penalties. This material is written to support the promotion or marketing of the transaction(s) or matter(s) addressed by this material. College Savings Bank and its affiliates and respective representatives do not provide tax, accounting, or legal advice. Any taxpayer should seek advice based on the taxpayer's particular circumstances from an independent tax advisor.
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|Date:||Oct 1, 2009|
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