Educational Planning

Affinity Plus Investment Center

Don’t let the sticker shock of college scare you! It’s easy to start saving for your child’s education now. We can help you financially prepare for what happens after high school graduation with the products and experience to get you tracking toward your savings goals. It is never too early to begin planning for educational expenses. 

    529 Plans

      Save for your child’s education using this easy and flexible tool. 529 funds can be used for any accredited college, university or vocational school within the United States, and at some foreign universities.

      • Funds can be used for any accredited college, university or vocational school in the United States and at some foreign universities
      • Funds are tax-deferred while invested and tax-free at withdrawal if used for qualified education expenses
      • Account value is considered an asset of the account owner, not of the beneficiary, if seeking federal financial aid
      • Allows account holder to retain ownership throughout the account’s life, regardless of the beneficiary’s age
      • No age limit for beneficiaries
      • Account holder has the ability to change the account beneficiary as needed 
      • No limit on contribution source - anyone can contribute
      • No income limits for contributors
      • Many states offer state income tax deductions for all or part of donor contributions; consult a tax advisor for your specific situation
      • Allows significant annual contribution amounts
      • Offers flexible investment and distribution options
      • Ability to update asset allocation on an annual basis 

      Coverdell Education Savings Account

        Similar to the 529 Plan, funds saved in this account are more flexible and can be used for elementary, secondary, or post-secondary education expenses.

        • Funds can be used for elementary, secondary, or post-secondary education expenses
        • Funds are tax-deferred while invested and tax-free at withdrawal if used for qualified education expenses
        • Account value is considered an asset of the account owner, not of the beneficiary, if seeking federal financial aid
        • Ability to change beneficiaries between eligible family members
        • Asset allocation can be changed at will
        • Allowed to hold almost any investment, including stocks, bonds, and mutual funds
        • Any remaining balance will be paid to the beneficiary within 30 days of his or her 30th birthday

        Uniform Gift/Transfer to Minor Accounts

          A tool that’s more advanced than a basic savings account can still be simple! Uniform Gift to Minor Accounts/Uniform Transfer to Minor Accounts (UGMA/UTMA) allow your child unlimited access to the money you’ve set aside, without having to be used for education.

          • Funds can be used for anything that will benefit the child--not restricted to education
          • Beneficiary assumes account control at age of majority (usually 18 or 21)
          • Account value is considered an asset of the beneficiary if seeking federal financial aid
          • No income limits for contributors
          • No limit to contribution amounts
          • No limit on withdrawals, but withdrawals are treated as taxable events
          • Some tax benefits on account earnings; consult a tax advisor for your specific situation
          • Can be opened using a wide variety of investment products

          Securities sold, advisory services offered through CUNA Brokerage Services, Inc. (CBSI), member FINRA/SIPC, a registered broker/dealer and investment advisor. CBSI is under contract with the financial institution to make securities available to members. The representative may also be a financial institution employee that accepts deposits on behalf of the financial institution. Not NCUA/NSUSIF/FDIC insured, May Lose Value, No Financial Institution Guarantee. CUNA Brokerage Services, Inc., is a registered broker/dealer in all fifty states of the United States of America.​ FR#1395160.1-0116-0218.

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