The Bank Plan is sponsored by the State of Montana and administered by the Montana Board of Regents of Higher Education, as sole trustee of the Montana Family Education Savings Trust (Trust). College Savings Bank serves as Program Manager for the Montana Family Education Savings Program (MFESP-Bank Plan) - Bank Plan. College Savings Bank, as Program Manager, supports all aspects of the day-to-day operations of the Bank Plan, including marketing, recordkeeping and administrative support. The Bank Plan offers four portfolios that invest in either a College Savings Bank issued CD or a savings account. CDs may be subject to early withdrawal penalties. For additional information, please refer to the MFESP-Bank Plan Disclosure Statement. Download the Montana Family Education Savings Program-Bank Plan Information and Enrollment Kit.
Tax and other penalties may apply to non-qualified withdrawals from a MFESP-Bank Plan account. You should consult your financial, tax, or other adviser to learn how state-based benefits (or limitations) will apply to your specific circumstances. The Bank Plan is not insured by the State of Montana, nor is the principal and interest invested in the plans thereon guaranteed by the State of Montana.