Four Retail Banks Partner to Launch Indiana’s CollegeChoice CD 529 Savings Program
The tax advantaged 529 college savings program was made available to Hoosiers on April 15, 2011
Princeton, NJ (May 9, 2011) - Since announced by Treasurer Mourdock, Chairman of the Indiana Education Savings Authority in January 2011, several early adaptors and local retail banks have already partnered with the CollegeChoice CD 529 Savings Program (CollegeChoice CD) to offer the State-Sponsored 529 savings plan to Indiana families. CollegeChoice CD is one of three 529 plans offered through Indiana’s State-sponsored and tax-advantaged 529 plan, CollegeChoice. Indiana residents now have the ability to save for a future college education by visiting a local participating bank branch.
“Several Indiana State banks have already began offering the CollegeChoice CD to their customers and we are thrilled to have them on the team. We also extend the invitation to all State banks to follow their lead and offer CollegeChoice CD to Hoosiers seeking to save for future college expenses,” said State Treasurer Richard Mourdock, Chairman of the Indiana Education Savings Authority.
While four State retail banks have already partnered with CollegeChoice CD, there are several additional partnerships with retail banks in the making. All retail banks within Indiana are encouraged to learn more and join partnering to offer CollegeChoice CD to their clients. The Indiana State Banks that have already partnered with CollegeChoice CD are:
Home National Bank has been part of the community since 1901. They strive to meet the financial needs of their customers. Home National Bank is Boone County's only locally owned bank and has branches in both Thorntown and Lebanon, Indiana.
With six locations, Heartland Community Bank serves the residents of Johnson County, Indiana with personal banking, commercial and small business banking as well as loans for both personal banking and commercial banking. Heartland Community Bank strives to work closely with their customers, offering personal service that makes the difference.
Home Bank has a history dating back to 1890 within the community of Martinsville, Indiana. Serving customers from three locations, their longstanding focus on community is what Home Bank aims to provide to their customers and local businesses that want a more personal approach to commercial banking.
Lake City Bank is the third oldest State-chartered bank in Indiana, founded in 1872 and has grown into one of the region’s largest locally based financial institutions. Lake City Bank has over 40 offices in a dozen counties in northern Indiana.
Indiana State banks can offer CollegeChoice CD to help clients shape a college savings plan that is right for them. Interested banks should contact Jason Thielman, VP of Business Development for College Savings Bank at 406-431-8236 (jason.thielman@collegesavings.com ) or inquire with the Indiana Bankers Association for additional information. Visit www.collegechoicecd.com to learn more the Plan.
© 2011 Indiana Education Savings Authority and College Savings Bank, a Paci?c LifeCorp Company. Member FDIC. All rights reserved. The CollegeChoice 529 CD Savings Plan is not insured by the State of Indiana, nor is the principal and interest invested in the plan thereon guaranteed by the State of Indiana. Read the terms and conditions as well as the plan disclosure statement carefully before you invest or send money.