Personal Banking

Personal Banking

CollegeWealth® 529 Savings Account

Books, room and board, equipment, let's face it paying for a college education is going to be expensive.

That's why Union First Market Bank offers a Virginia CollegeWealth® 529 savings account as a strategy for planning and saving for college expenses.

Clear benefits:

  • Tax Advantages
  • FDIC Insured
  • High Yield Savings Account

CollegeWealth® 529 Rates:

Lower TierUpper TierInterest RateAnnual Percentage Yield
$0$9,999.991.98%2.00%
$10,000+2.23%2.25%
 

Use your CollegeWealth® 529 Savings Account for expenses like:

  1. Tuition and fees
  2. Certain room and board costs
  3. Textbooks
  4. Required supplies and equipment

To learn more, download a brochure or visit the Virginia529 web site.

We have partnered with the Virginia College Savings Plan, an independent agency of the Commonwealth of Virginia, which means you can use your savings at any accredited college eligible to accept federal financial aid.

The money can also be used at many vocational and for-profit schools and community colleges.

  • Minimum of $25 to open
  • No age limits for adults or children
  • No state residency requirements
  • Maximum amount of contributions per beneficiary is $350,000 across all Virginia529 programs
  • Protection from creditors under Virginia law

Advice:

Customers are encouraged to obtain a CollegeWealth® 529 Program Description from any Union First Market Bank location, by calling customer service, or by clicking on the first link below.

*For residents of states other than Virginia: your state or the beneficiary's state of residence (if different) may sponsor a 529 plan that offers state income tax and other benefits not available to you through CollegeWealth®. CollegeWealth® is a Section 529 (Virginia529) plan sponsored by the Commonwealth of Virginia. CollegeWealth® is a registered service mark of the Virginia College Savings Plan.

Investors should carefully consider the investment objectives, risks, charges and expenses associated with 529 plans before investing. This and other information about the CollegeWealth 529 plan is available in the CollegeWealth 529 Program Description and should be read carefully before investing. Investors should consult a tax advisor about any state or federal tax consequences of an investment in a 529 plan.

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Union First Market Bank
P.O. Box 940
Ruther Glen, VA 22546

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