We invite all Hughes Federal Credit Union Primary Members to vote for their 2025 Board of Directors (BOD) online from March 1 to 31, 2025. To learn more about this year's Board Nominees, click here.
It’s never too soon to start planning for your child’s education. Begin saving for their journey toward higher education by taking advantage of a 529 Plan–an investment plan operated by a state, designed to help families save for educational costs.
A key perk of a 529 Plan is the income tax breaks on non-deductible contributions. Any earnings grow tax-deferred for as long as the money stays in the plan. Any withdrawals for qualified educational expenses are federal tax-free.
As long as the plan satisfies a few basic requirements, the federal tax law provides special tax benefits to the plan participant. There also may be state tax deduction benefits depending on your state’s plan.
A 529 Plan has a broad range of tax benefits and consequences, financial aid implications, contribution limits, and asset flexibility. Our CERTIFIED FINANCIAL PLANNER™ professionals know the questions to ask to determine the best fit for your needs.