MADISON, Wis. – Wisconsin consumers looking to maximize their tax deductions should be aware that a credit union CD option has been added to the state-sponsored EdVest 529 college savings plan, which offers up to $3,000 in state tax deductions per child per year for individual contributors regardless of income level.
Instead of purchasing a CD directly from credit unions, consumers contributing to an EdVest account – established via www.edvest.com or by phone at 1-888-338-3789 – would direct the state Treasury to use credit unions for a portion of their invested funds.
The credit union CD Portfolio is one of 15 investment options available through EdVest.
Wisconsin’s credit unions are the first in the nation to hold and pay interest on investments held as part of a state-sponsored college savings plan.
