The 529 College Savings Program allows parents, grandparents, and others to invest in a child's future education while receiving tax benefits.
- Educational opportunity: Funds can be used for an education at most accredited universities, colleges, and trade schools.
- Earnings: Earnings grow tax free.*
- Increased tax deduction: Up to $4,000 (married filed jointly) or $2,000 (single) can be deducted from your Arizona gross income.
- Tax free withdrawals: Qualified withdrawals are exempt from income taxes.
- Flexibility: Anyone can contribute and the beneficiaries can be changed at anytime.
- Low minimum investment: Start a savings program for as little as $25 a month.
For More Information visit: College Savings Bank
How To Open
Open by visiting your local branch and talking with a Personal Banker.
*Earnings on nonqualified withdrawals are subject to federal income tax and may be subject to a 10% federal penalty tax, as well as state and local income taxes and early withdrawal penalties. The availability of tax or other benefits may be contingent on meeting other requirements.