Affinity Plus Investment Center

Education Planning

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 to get you tracking toward your savings goals.

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Cullen, Mitchell, Molly & Kelly, Affinity Plus Members

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Your Future. Your Way.

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.

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  • Funds can be used for any accredited college, university or vocational school in the United States and at some foreign universities
  • K-12 tuition (up to $10,000 a year per beneficiary on qualified expenses). But withdrawals for K-12 expenses may not be exempt from state tax in certain states.
  • Funds are tax-deferred while invested and tax-free at withdrawal if used for qualified education expenses
  • 529 plan account owners may now withdraw up to $10,000 tax-free for payments toward education loans
  • 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  

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.

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  • 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

Getting Started is Easy

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Investment Center Disclosures 

Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. Affinity Plus Federal Credit Union and Affinity Plus Investment Center are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using Affinity Plus Investment Center and may also be employees of Affinity Plus Federal Credit Union. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, Affinity Plus Federal Credit Union or Affinity Plus Investment Center. Securities and insurance offered through LPL or its affiliates are:

Not insured by NCUA or Any Other Government Agency

Not Credit Union Guaranteed

Not Credit Union Deposits or Obligations

May Lose Value

The LPL Financial registered representative(s) associated with this website may discuss and/or transact business only with residents of the states in which they are properly registered or licensed. No offers may be made or accepted from any resident of any other state.

Your Credit Union (“Financial Institution”) provides referrals to financial professionals of LPL Financial LLC (“LPL”) pursuant to an agreement that allows LPL to pay the Financial Institution for these referrals. This creates an incentive for the Financial Institution to make these referrals, resulting in a conflict of interest. The Financial Institution is not a current client of LPL for brokerage or advisory services.

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