Preparing for Your Child's Future

Did you know there is a special day dedicated to saving for your child’s (or grandchild’s) future? On May 29^th each year, we celebrate National 529 Day—a day to spotlight the incredible benefits of 529 education savings plans. These special, tax-advantaged accounts are designed to help you save for future education expenses.

Key Benefits of a 529 Education Savings Plan

When you invest in a 529, your money grows tax-deferred, and you can take it out tax-free when you use it for qualified expenses like tuition, books, or even room and board. The funds can be used for college, vocational schools, up to $10,000 for K–12 tuition, and even for student loan repayments. Plus, many states offer income tax deductions or credits for your contributions. And here’s a big advantage: as the account owner (whether you’re a parent or grandparent), you keep control of the assets, not the beneficiary. If your child decides to take a different path, you can easily change the beneficiary to another family member.

Sprout Account: An Alternative Savings Solution for Your Child

If you want an alternative or supplement to a 529 account, FORUM provides a special savings option called Sprout for your child. This account can be opened any time between birth and age 18, and contributions can be made by anyone at any time. Along with a competitive dividend rate, members can earn a bonus on deposited funds up to $200 each calendar year. When your child turns 18, those funds are ready to use for whatever’s next—college, trade school, buying their first car, private school, or anything else they might need. It’s a simple way to give your child a financial head start, no matter their path. Plus, when you open a Sprout Account for your child during May, you'll have an entry for a chance to win $250 deposited to their account!*

Take the first step to secure your child’s financial future today. Open a 529 through your state-sponsored plan (click here for Indiana) and a Sprout Account through FORUM. Don’t wait—give your child the head start they deserve!

*NO PURCHASE NECESSARY TO ENTER OR WIN. Void where prohibited. Opening an account will not increase your chances of winning. See Official Rules for eligibility, entry methods, odds, and details at forumcu.com/youth/savings#sproutaccount. Tiered bonus on qualifying deposits up to $200 per calendar year. Please allow up to 6 weeks for deposit. Terms and conditions apply. Dividends paid; rates subject to change.