WARRENVILLE, Ill. – Credit unions in Wisconsin will be able to participate in the state’s EdVest college savings program as the result of a partnership formed by Members United Corporate FCU, Wells Fargo Funds Management and Primary Financial Company.
EdVest, which is a 529 college savings plan, has introduced what is said is the first 529 plan in the country that includes a credit union CD portfolio represented by underlying share certificates issued by Wisconsin credit unions. Primary Financial Co., a CUSO of Members United, provides the SimpliCD program through which credit unions can invest in insured certificates.
Through SimpliCD, credit unions can issue certificates to raise liquidity by accepting investments from the EdVest program. Wells Fargo Funds Management provides the investment management and administrative services to the EdVest plan
