Save for Your Child’s Future
When you open an ESA with us, it is structured as a fully FDIC-insured Certificate of Deposit account which offers limited or no access during the term you select with a fixed interest rate paid on your full balance. You may wish to coordinate the date of your annual ESA contribution with your CD's maturity date so you can combine new contributions with existing education savings balances. You can also setup a CD Ladder for your ESA CDs, which will allow you to make more frequent contributions at the maturity dates of each CD in your ladder.
Educational Savings Accounts can also be structured as a brokerage account invested in stocks, bonds or other types of investments which are not guaranteed and may lose value. If you are interested in this type of education savings option, please contact a representative from First Citizens Investment Services.2
A 529 Plan, so named because of the section of the tax code dealing with this type of account, is a state-sponsored, tax-deferred education savings plan that has no age limits. Unlike an ESA, there are no annual contribution limits and your contributions are invested by a portfolio manager. If you are interested in this type of education savings option, you may contact a representative with First Citizens Investment Services.2
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1 Consult a qualified tax professional for details.
2 Not FDIC Insured • Not Bank Guaranteed • May Lose Value • Not Insured by Any Federal Government Agency • Not a Bank Deposit Securities offered through LPL Financial. Member FINRA/SIPC. First Citizens National Bank and First Citizens Investment Services are not registered broker/dealers and are not affiliated with LPL Financial.