The Enable Savings Plan—one of the first national ABLE programs for individuals with disabilities—has launched a Checking Investment Option, Nebraska State Treasurer Don Stenberg and First National Bank of Omaha announced today. This new Investment Option enhances the ability of individuals with disabilities to save and manage their resources.
The new Checking Option is the first of its kind, allowing account owners nationwide to pay for qualified disability expenses by check or debit card. It is an interest-bearing, FDIC-insured Investment Option and one of five investment options offered by the Enable Savings Plan.
“It has been rewarding to watch the Enable Savings Plan grow since it launched last June. Opening the Enable Checking Option is a critical step forward as it allows account owners to contribute and withdraw money seamlessly for everyday expenses and to earn interest in their accounts,” said Treasurer Stenberg. “We are happy to provide a safe and easy checking option that will allow individuals with disabilities to benefit from the tax and program advantages of an Enable account without the inconvenience of unnecessary bureaucracy.”
“The Enable Savings Plan was developed to help individuals with disabilities achieve financial independence. With the added Checking Option, account owners can both save for future expenses and pay for daily expenses all in one account,” said Deborah Goodkin, Managing Director, Savings Plans, First National Bank of Omaha. “Our investors have jobs, apartments, and pets to take care of. It is important for them to have these convenient banking capabilities so they can lead their everyday lives.”
Account owners and family members are able to make contributions through a variety of methods, including mailing a check to the Enable Savings Plan, authorizing an electronic transfer from a personal bank account into an Enable Checking Option, and systematically using payroll deduction direct deposit or the Automatic Investment Plan.
Withdrawals can be done by writing a check, using a debit card, logging into a secure Enable Savings Plan account online, sending a withdrawal form downloaded from EnableSavings.com, or calling the Enable Savings Plan customer service line at 1-844-ENABLE4 (1-844-362-2534). Account owners can view their transactions, track their balances, and see statements online at EnableSavings.com.
Launched in June 2016, the Enable Savings Plan was one of the first national ABLE savings plans offered. Enable provides individuals with disabilities an opportunity to save for their future in tax-free savings accounts and pay for everyday expenses. People with disabilities and their families can save as much as $100,000 without impacting Social Security benefits.
For more information about the Enable Checking Option and to follow updates about the Enable Savings Plan, visit EnableSavings.com or treasurer.nebraska.gov. Also, read the Enable Savings Plan blog and like Enable Savings Plan on Facebook.
Enable is a tax-advantaged savings plan to help make saving simple and affordable for individuals with disabilities. The Nebraska State Treasurer serves as Program Trustee. First National Bank of Omaha serves as Program Manager, and investments are approved by the Nebraska Investment Council. Visit EnableSavings.com and treasurer.nebraska.gov for more information.
About First National Bank of Omaha
First National Bank of Omaha is a subsidiary of First National of Nebraska. First National of Nebraska and its affiliates have more than $23 billion in assets and 5,000 employee associates. Primary banking offices are located in Nebraska, Colorado, Illinois, Iowa, Kansas, South Dakota and Texas.