College Investment Plans | Redstone Federal Credit Union

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College Investment Plans

Of all the investments you make over your lifetime, your children’s education is one of the most important. Set them up for success with a 529 Plan or a Coverdell ESA, both of which allow any money you earn to grow tax-free. You won’t pay taxes on your withdrawals either, as long as you put the money toward a qualified education expense. Coverdell ESAs and 529 Plans give your money a chance to compound faster, and valuable tax benefits enable you tokeep more of what you earn.

Whether college is just around the corner or years away, now is the time to start saving.

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3%

CashBack on purchases made in the first 90 days
(Introductory offer)

1.5%

CashBack on ALL purchases made after the first 90 days
No limit on the amount you can receive

0%

Intro APR for 6 months on Balance Transfers made within first 30 days
After that, APR will range from 8.50% –12.00%

Our Visa Signature card features additional exclusive benefits1, including

Entertainment

Access to pre-sales and discounts on tickets to sporting events

Preferred seating offers for select Cirque du Soleil shows

Travel

Incredible travel packages, savings, and upgrades

Premium benefits at prestigious hotels worldwide

Trip Cancellation (reimburses some unused fares)

Dining

Complimentary wine tastings at Sonoma County wineries

Savings at restaurants and gourmet retailers

Service

24/7 Visa Signature Concierge2  service, which includes:

Travel and dining arrangements

Entertainment and event tickets

Hospitality services

Savings

Special offers from select retailers with Visa Discounts**

Price Protection (reimburses the price difference of an item if you find it advertised for less within 60 days of purchase)

529 College Savings Plan

Withdrawals: Must be used for college

Portfolio control: Investment portfolios are determined by a team of financial experts

Contribution limits: There is a $14,000 annual contribution limit (per beneficiary) and a $300,000 overall limit

Age limits and requirements: There are no age limits or requirements on federal 529 Plans, but some states have age restrictions

Special considerations: Your state might offer a 529 Plan that provides state tax benefits, so you should look into that before investing

Coverdell ESA
(Education Savings Account)

Withdrawals: Can be used for K-12 education and/or college

Portfolio control: You choose your investments and customize your portfolio

Contribution limits There is a $2,000 annual contribution limit (per beneficiary)

Age limits and requirements: Must make all contributions before the beneficiary turns 18, and must make all withdrawals by age 30

Special considerations: There are limits to the amount you can contribute if your income is above a certain level; ask your Financial Advisor/Consultantfor more details

The benefits of investing with Redstone Brokerage Services

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Financial Consultants

who are knowledgeable, experienced, and focused on helping you succeed using practical investing strategies that fit your life

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Free portfolio review

with your Financial Consultant, allowing you to assess where you are now, outline a comprehensive investment plan, and address your questions and concerns

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Convenience of having it all in one place

when you invest with Redstone Brokerage Services

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View your investments 24/7

with Redstone's free Online Banking tools

Securities and advisory services offered through LPL Financial, a registered investment advisor member FINRA/SIPC. Insurance products offered through LPL Financial or its licensed affiliates. The investment products sold through LPL Financial are not insured Redstone Federal Credit Union® deposits and are not NCUA insured. These products are not obligations of Redstone Federal Credit Union and are not endorsed, recommended, or guaranteed by Redstone Federal Credit Union or any government agency. The value of the investment may fluctuate, the return of the investment is not guaranteed, and loss of principal is possible.

The services offered within this investment site are available exclusively through our U.S. registered representatives and are available for U.S. residents only. LPL Financial Registered Representatives associated with residents of Alabama and Tennessee. Please note that not all of the investments and services mentioned are available in every state.

RFCU and Redstone Brokerage Services are not registered broker/dealers.  LPL Financial is a separate entity from and not affiliated with RFCU or Redstone Brokerage Services.  RFCU does not warrant, guarantee, or insure any product or service offered by LPL or Redstone Brokerage Services. Redstone Brokerage Services and RFCU do not provide tax advice.  Please consult your tax advisor for your specific questions.

Must be RFCU member to obtain investment products.  Must be eligible for membership and open a share savings account in order to join.  A $5.00 minimum balance is required to open and mus be maintained in share savings account at all times.  Fees and other restrictions may apply.  RFCU and Redstone Brokerage Services are affiliated but separate entities.

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