Archive Links

Consumer Archive
CU System Archive
Market Archive
Products Archive
Washington Archive

News Now

CU System
Members United Wisconsin CUs offer college savings plan
WARRENVILLE, Ill. (12/8/08)--Wisconsin credit unions can participate in their state’s EdVest college savings program as result of a partnership between Members United Corporate FCU, Wells Fargo Fund Management LLC, and Primary Financial Company LLC. EdVest, a 529 college saving program, recently introduced a credit union certificate of deposit (CD) portfolio. The portfolio invests in underlying share certificates issued by Wisconsin credit unions. Primary Financial Co. is the corporate credit union service organization (CUSO) that provides the SimpliCD program, which allows credit unions to invest funds in federally insured certificates of deposit without the hassles, time and expense of finding and making investments on their own. Through SimpliCD, credit unions can issue certificates to raise liquidity by accepting investments from the EdVest program. “Members United, the Wisconsin Savings Program Board and Wells Fargo worked diligently to bring this program to fruition,” said Mike Lee, president of Members United’s Midwest region. “As a result, EdVest is the first 529 plan in the country to include credit union certificates. Working with the Wisconsin Credit Union League, we’ve engaged multiple local credit unions to participate in the program.” Warrenville, Ill.-based Members United, in partnership with the league and the CUSO will locate credit unions willing to participate. “Credit unions are in business to help members, and this program does just that by giving EdVest access to credit unions’ most competitive rates statewide,” said Brett Thompson, league president/CEO. “EdVest is an under-tapped resource that Wisconsin credit unions can use to help members reach their educational savings goals,” he added. The league worked on the project for two years before it became available to the public.
Other Resources

RSS print
News Now LiveWire
#FreeGasFriday courtesy of @tvfcu, TN #creditunions http://t.co/wDRFYJVlpz
1 Day ago
If you were unable to watch or attend @cuna 's @thehill Hill forum on Wed., you can now watch the archived version: http://t.co/FhUnp7HbU8
1 Day ago
Time is running out. If you haven't taken the #NewsNow readership survey, please click here now: http://t.co/4Gp6C2Wa4o
1 Day ago
African financial inclusion possible with mobile money: @IMFNews study http://t.co/0V5DTQToxY
1 Day ago
Louise Herring's birthday is Saturday. 105 years later, her legacy lives on through her kids http://t.co/oMqGADmo0d http://t.co/T3NmS9NqEY
25 minutes ago