|By PR Newswire||
|February 12, 2013 03:21 PM EST||
RALEIGH, N.C., Feb. 12, 2013 /PRNewswire/ -- Assets held by North Carolina's 529 college savings plan participants and invested in options from Vanguard, the State Treasurer and State Employees' Credit Union (SECU) now total over $1.1 billion. With a low minimum contribution requirement of just $25, the NC 529 Plan works well for savers of all income levels.
More than $46 million of assets in the NC 529 Plan have been invested in the Federally-Insured Deposit Account since SECU provided this option for the Program's investment line-up in April 2010. By offering a variety of investment options, the NC 529 Plan is designed to give participants choices that meet their individual objectives for college savings and tolerance for risk.
Well-received by conservative investors and those with students nearing college age, contributions and interest allocated to the Federally-Insured Deposit Account are guaranteed by SECU and insured by the National Credit Union Administration (NCUA), which is backed by the full faith and credit of the U. S. Government.
As described in the NC 529 Program Description, the Federally-Insured Deposit Account features protection of principal and earnings and deposit insurance by NCUA. It also offers an interest rate that compares favorably with deposit or money market accounts available elsewhere.
This option is open to members and non-members of SECU. Enrollment help and additional information on all investment options in the NC 529 Plan is available online at CFNC.org/NC529 or by calling 800-600-3453 toll free.
Credit Union members can also get additional help opening an NC 529 account from branch employees at all 246 SECU offices across the State. In addition, non-commissioned investment representatives of Credit Union Investment Services (CUIS), a Registered Investment Advisor and service organization of SECU, can assist SECU members with choosing among all the NC 529 investment options to best suit their tolerance for market risk and objectives of saving for future educational expenses.
Senior Vice President of SECU's IRA & Investment Services department Joan McCool, comments, "State Employees' Credit Union is delighted that our Credit Union's members and non-members are investing in their family or friends' educational future through North Carolina's National College Savings Program. The continued growth of the NC 529 Plan assets is a great indication of the importance being placed on the benefits of receiving a higher education."
For information about all investment options, plus federal and state tax advantages of saving in the NC 529 Plan, go CFNC.org/NC529 or call 800-600-3453 toll free or 919-828-4904 (Raleigh).