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Bright Directions 529 College Savings Visa®

To help you save and build funds for college, Bright Directions is proud to offer the Bright Directions 529 College Savings Visa® Card! With this user friendly card you can earn 1.529% on your everyday spending to help your child’s Bright Directions college fund grow!

How It Works

Earn rewards by using your Bright Directions 529 College Savings Visa® Card for your regular spending and 1.529% of your eligible net purchases¹ will be invested directly into your Bright Directions 529 College Savings Program account each quarter.²

For example, a family with an average monthly budget of $2,500 for groceries, gas, dining out, clothing, and other everyday expenses could accumulate an additional $458 into a Bright Directions account over the course of a year by using this rewards card. If you multiply that over several years and add in potential earnings, you could have extra college savings built up without changing your everyday habits!

Each quarter, once you’ve accumulated $50 or more in rewards with your Bright Directions 529 College Savings Visa® Card, the funds will be automatically added to the Bright Directions college savings account you designate. This card offers the flexibility to split your rewards equally among up to three Bright Directions accounts.

How to Save Even More

You can have this card work even harder for you by encouraging others—grandparents, aunts, uncles—to get a Bright Directions 529 College Savings Visa® Card. Their everyday spending can also earn rewards for your child’s Bright Directions college savings account.

How to Apply

There are three ways you can apply for your Bright Directions 529 College Savings Visa® Card.

Apply Online
Download and complete the application and mail to us
Request an application from your financial advisor

For important information please review the Card Application and Credit Disclosures, Pricing & Terms, and the Rewards Program Terms & Conditions.

If you have any questions regarding this application or the cardholder rewards, please contact us at 866-722-7283 (7:30 a.m. – 5:30 p.m. Central Time, Monday through Friday).

¹Net purchases are defined as the dollar value of goods and services purchased with a card beginning with the first day of the billing cycle that includes the cardholder’s enrollment date, minus any credits, returns, or other adjustments as reflected on the monthly billing statements.
²The minimum amount that needs to accumulate in your Bright Directions® Rewards Account for an automatic transfer to your Bright Directions® College Savings Program Account or Accounts is $50.

Investment Products: Not FDIC Insured. No Bank Guarantee. May Lose Value.

The Bright Directions® College Savings Program is part of the Illinois College Savings Pool and is designed to qualify as a qualified tuition program under the provisions of Section 529 of the Internal Revenue Code. The Bright Directions® College Savings Program is sponsored by the State of Illinois and administered by the Illinois State Treasurer, as Trustee. Union Bank & Trust Company serves as Program Manager, and Northern Trust Securities, Inc., acts as Distributor.

Securities, products, and services are offered by Northern Trust Securities, Inc., member FINRA.

You should be aware that other states may sponsor their own qualified tuition plans and may offer a state tax deduction or other benefits that are limited to residents who invest in that plan. You should consult with a tax advisor about state and local taxes.

Withdrawals used to pay for qualified higher education expenses are income tax-free (Federal and State of Illinois). Qualified higher education expenses include tuition, fees, books, supplies, and equipment required for enrollment at a qualified institution of higher education. Room and board is considered a qualified higher education expense if the student is enrolled on at least a half-time basis. Computers, computer equipment and Internet access and related services that the Beneficiary or the Beneficiary's family use during the time the Beneficiary is enrolled are also considered qualified higher education expenses if paid or incurred in 2009 or 2010.

Every individual’s tax situation is different, and it is important to consult a qualified tax advisor regarding the application of the Program’s benefits to your own individual situation.

There is no guarantee that any investment portfolio will achieve its investment goals. The value of an account will go up or down based on the performance of the Portfolio in which the account is invested. When funds are withdrawn, they may have more or less than the total contributions made to the account. Past investment performance is no guarantee of future results.

Investments in the Bright Directions® College Savings Program are not guaranteed or insured by the State of Illinois, the Illinois State Treasurer, Union Bank & Trust Company, Northern Trust Securities, Inc., the Federal Deposit Insurance Corporation, or any other entity. An investor should consider the investment objectives, risks, and charges and expenses associated with municipal fund securities and the underlying investment companies before investing. Please contact your investment professional or call 866–722–7283 to obtain a Program Disclosure Statement (issuer’s official statement) or prospectus for any of the underlying funds. Please read the Program Disclosure Statement carefully prior to investing.