College Savings Bank, a Division of NexBank offered two FDIC-insured options as part of the AZ529, Arizona's Education Savings Plan: (1) fixed-rate CDs with one-year, two-year or three-year maturities; and (2) the CollegeSure Honors Savings Account, a high-yield savings account. The plan ceased offering InvestorSure CDs and CollegeSure CDs to investors as of August 2, 2016 and October 21, 2016. InvestorSure CDs and CollegeSure CDs issued prior to those dates continue to be managed and serviced by College Savings Bank until their maturity dates. Effective Nov. 1, 2021, College Saving Bank will no longer be accepting new accounts or the purchase of new products for the AZ529, Arizona's Education Savings Plan. Additionally, no deposits to existing accounts will be accepted after Feb. 1, 2022. Any College Savings Bank CD accounts will be serviced through their full maturity, regardless of the change. All Honors Savings Accounts will continue to be serviced through College Savings Bank until at least November 30, 2022, when they will be transitioned to Fidelity Investments.
- Program typeSavings
- State agencyArizona State Board of Investment
- Tax deduction
- Program ManagerCollege Savings Bank, a Division of NexBank
- Program distributorCollege Savings Bank, a Division of NexBank
Investors in AZ529, Arizona's Education Savings Plan - Bank Plan can select from the following investment options. Click on a portfolio name for more information.
Sometimes referred to as the enrollment-based option, this is an investment approach where your asset allocation is programmed to change over time. Accounts for young beneficiaries are invested aggressively and accounts for beneficiaries with college right around the corner are invested much more conservatively. In some 529 plans, the age-based option operates by automatically transferring your investment from one static portfolio to another at certain points in time. Others utilize lifecycle funds or employ lifecycle-type tactics within the portfolio containing your investment so that it is not necessary to transfer your investment between portfolios.