Futuretrust Creates 529 Checking Account

Futuretrust Banking Center is offering customers a checking account focused on 529 college savings. The account earns 1%, which is deposited into parents’ 529 college savings plan each month.

With the cost of college having increased 51% over the past five years, 86% of parents now say they are having difficulty saving for college, Futuretrust found in a survey it conducted with Harris Interactive.

“We’ve made it easier for young families to save for their child’s college education, especially in a season of economic difficulty,” said Rebecca Matthias, president of Futuretrust. “The Futuretrust Banking Center is another way that Futuretrust members are able to put money away without extra effort. The free online services are reliable, secure and convenient.”

Futuretrust also offers a MasterCard credit card that contributes 1% of all purchases to parents’ 529 college savings plan.