Teachers Credit Union and Baugo Community Schools have established a new partnership that will help families start saving for college. Through an administrative and financial agreement, TCU will contribute $75,000 toward college savings accounts for students. The cash management dividends and sponsorship elements of the agreement are expected to provide the school district a total of $1.3 million in support over the next five years.
“We’re excited to strengthen our relationship with Baugo Community Schools with this forward-looking collaboration,” TCU President and CEO Paul Marsh said. “This will encourage students to start thinking about college early and provide support for families to encourage long-term savings that will help them meet the increasing cost of higher education.”
As part of the partnership, the kindergarten wing at Jimtown Elementary School will be renamed TCU Hope Hall. TCU, which will serve as the school district’s official financial services provider, will also help launch the new program to encourage saving for future education costs by establishing a CollegeChoice 529 Direct Savings Plan for all new kindergarten students. The initiative will strengthen the school district’s Baugo Promise program, designed to prepare every Jimtown student for college.
“This partnership with TCU will help us fulfill the Baugo Promise,” incoming Baugo Community Schools Superintendent Byron Sanders said. “We’re grateful for the support in inspiring students to dream big at an early age with the allocation of resources that will help those dreams come true.”