Montana 529 now offering S&P-linked equity CD
The Bank’s original product, the CollegeSure CD, is offered without fees and principal and is FDIC insured to at least $100,000 per depositor.
Had the InvestorSure CDs been available, the previous 80 maturing CDs (ending in Oct. 2007) would have produced an average annual percentage yield (APY) of at least 5.32%. InvestorSure CDs will pay, based on a formula, between 85 and 100% of the average increase in the S&P 500 from purchase date to maturity (5 years).
The Bank will issue the CD 4-times a year and accept funds everyday for the investment.Contributions will be held in an InvestorSure Accumulator account, with an (APY) of 2.02%, until issue date.InvestorSure Accumulator Accounts with a balance of $1,000 or more will automatically purchase an InvestorSure CD.