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We know the importance of college and want our members to be able to achieve this important goal. That’s why our CFS* Financial Advisor is able to offer you a 529 college savings plan as part of your Alameda County Employees benefit package.

Whether you are saving to help your kids, grandkids, or other family members to attend school or planning ahead for your own college expenses, a 529 college savings plan through American Funds comes with many benefits including:

  • Tax-advantaged investing – Earnings in a 529 account grow free from federal tax. This can help you accumulate more over the long term.
  • Flexibility – Use the assets in your account to fund expenses at any U.S. public or private college – undergraduate, graduate, professional or vocational. Qualified expenses include tuition, fees, room and board, and many more.
  • Investing for any beneficiary – Use your 529 account for your children, grandchildren, nieces, nephews, or friends. You can even save for yourself. In addition, there are no age or income limits.
  • Convenience of automatic investing – Investing is easy and can be done through deductions from your personal bank account or Alameda County payroll deductions.
  • Low plan costs – Never pay a sales commission, and you benefit from low operating expenses so more of your money goes toward your goal and not fees.
  • Control over your account – Unlike other college funding vehicles, you control the assets in a 529, even when your beneficiary reaches the age of enrollment.

To get started with your 529 plan or for more information, please contact the CFS* Financial Advisor located at 1st United Credit Union:

Rahil Machiwalla, Financial Advisor
CUSO Financial Services, L.P.
CA Insurance Number: 0G20361

(925) 598-4718


Frequently Asked Questions

These and other frequently asked questions can be found at the American Funds website.

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