Piedmont Advantage Credit Union offers private student loans, College Savings Plans, and scholarship opportunities.

No matter what subject they're studying, students in North Carolina and across the U.S. share one basic piece of knowledge: College costs are intimidating. The best way to cover tuition and fees is to begin planning and saving years ahead of time. We will help you get a handle on investment options and private student loan options because savings doesn’t always cover it – no matter when you started saving.   

Private Student Loans

  • Use funds for not only tuition. Finance room & board, books and even computers!
  • College students are busy. We won’t waste your time. Apply in 15 minutes or less.
  • Apply to release your cosigner from your loan after you graduate, make 12 on-time principal and interest payments, and meet certain credit requirements.
In partnership with Sallie Mae, student loan opportunities are available for undergraduate and graduate students. Learn More

Roth Independent Retirement Account (IRA)

  • Though technically a retirement account, some parents use Roth IRAs to save and pay for college.
  • For parents age 59½ and older, a withdrawal of earnings is tax-free if the account has been open for at least five years.
  • For parents younger than 59½, early withdrawal penalties do not apply if the withdrawal is used to pay for a child’s college expenses.

529 Savings Accounts*

  • One of the most popular tax-advantaged college savings options.
  • Contributions grow tax deferred and withdrawals are tax-free at the federal level if the money is used for qualified education expenses. States may also offer their own tax advantages.
  • Includes both education savings plans and prepaid tuition plans.
  • A 529 college savings plan is an individual investment account that lets you direct your contributions to one or more of the plan’s investment portfolios.
  • With a prepaid tuition plan, you purchase tuition credits at today’s prices for use at specific colleges in the future.
  • Participation isn’t restricted by income level and lifetime contribution limits are high, typically $300,000 and up.

Coverdell Education Savings Account (ESA)*

  • A Coverdell Education Savings Account is a tax-advantaged education savings account.
  • You can contribute up to $2,000 per year for a beneficiary’s K-12 or college expenses.
  • Contributions grow tax-deferred and earnings are tax-free at the federal level if the money is used for qualified education expenses.
  • You have complete control over the investments in the Coverdell ESA account.
  • There are income restrictions on who can participate.

Custodial Account (UTMA/UGMA)*

  • A custodial account allows a minor to hold investment assets in his or her own name with an adult as custodian.
  • All contributions to the Uniform Transfers to Minors Act (UTMA) and Uniform Gifts to Minors Act (UGMA) accounts are irrevocable gifts to your child, and assets in the accounts can be used to pay for college.
  • When your child turns 18 or 21 (depending on state law), he or she will gain control of the account.
  • Earnings and capital gains generated by the account are taxed to your child each year.


*Non-deposit investment products and services are offered through CUSO Financial Services, L.P. ("CFS"), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Piedmont Advantage has contracted with CFS to make non-deposit investment products and services available to credit union members.



Scholarship Opportunities

Looking for ways to offset the costs of higher education?

Check out the opportunities and application dates in the link below. 

New to Piedmont Advantage?

Follow these easy steps to open your membership and new accounts:

  1. Membership begins when you open your Share Savings Account with a minimum deposit of just $5. Upon membership approval, you're set to apply for our premier credit cards, various loan solutions and many other deposit accounts.
  2. If you're not a member and have started or completed an online application, upon receipt of your application, we will follow up with you regarding your membership.
  3. You also may apply for membership or any new account by visiting a branch or calling our Member Relationship Center, 800.433.PACU.

Headquartered in Winston-Salem, North Carolina, and founded in 1949 within the aviation industry, Piedmont Advantage Credit Union (PACU) serves member-owners, who reside, work, worship, attend school or operate a business in one of the six counties it serves in North Carolina or who are employed by one of its many employer companies. These six counties are Davie, Forsyth, Guilford, Iredell, Mecklenburg and Rockingham.

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