College Savings Bank Legacy Accounts

Next Steps for College Savings Bank Account Holders

Beginning on July 31, 2025, College Savings Bank (CSB) will accelerate the maturity on all CollegeSure CDs that mature on or after July 31, 2026, as reviewed and approved by the Arizona State Board of Investment (BOI), as follows:

Each CollegeSure CD issued on or before March 28, 2011, (Legacy CollegeSure CDs) will receive a 4.5% annual percentage yield (APY) paid in full on July 31, 2025.
Each CollegeSure CD issued after March 28, 2011, will receive a 2.0% APY paid in full on July 31, 2025.

This accelerated schedule will provide account holders with a likely higher APY than if the CD was held to maturity. Unless otherwise directed, the funds in CSB accounts will automatically be transferred to a CollegeSure Honors Savings Account and then transition to an investment option in the AZ529 Plan, Arizona’s Education Savings Plan, as managed by Fidelity Investments on August 31, 2025.

CSB has been a contracted AZ529 program manager with the State of Arizona since the AZ529 Plan was first created and launched in 1999. In 2021, CSB’s parent company Nexbank, indicated they no longer desired to offer 529 savings products and as a result, the BOI approved and the Arizona State Treasurer’s Office entered into a transition service agreement with CSB with quarterly transitions of accounts and assets to Fidelity Investments.

Affected CSB account holders were sent notifications starting in May 2025.

If you have questions or need more information, please contact:

College Savings Bank
Phone: 800-888-2723, Monday-Friday, 9AM-6PM EST
Online: collegesavings.com