DES MOINES, Iowa - State Treasurer Michael L. Fitzgerald today announced a partnership that makes contributing money to a College Savings Iowa account as easy as swiping a Hy-Vee/Upromise college savings card at the checkout.

Upromise, a free service designed to help consumers save money for college, now allows shoppers to receive automatic college savings on everyday grocery items when they use their registered Hy-Vee/Upromise college savings card at participating Hy-Vee stores across the state. Each time a Upromise member shops with Hy-Vee, a portion of the member’s qualified spending will automatically go into a Upromise college savings account. These savings can be transferred into a College Savings Iowa 529 plan account on a periodic basis.

The program allows Upromise members in Iowa the opportunity to save one to five percent back for college when they buy any of the thousands of participating products such as Coca-Cola®, Huggies® Diapers and Wipes, Kellogg’s® and Tide®. To get started, customers can pick up the Hy-Vee/Upromise college savings card at their participating Hy-Vee store and register it with Upromise. There is no charge for the card.

“We’re always looking for innovative ways to help parents save more money for college,” said Fitzgerald. “The partnership between Hy-Vee and Upromise gives people saving for a child’s college education yet another opportunity to supplement their College Savings Iowa 529 plan accounts.”

Ric Jurgens, CEO and president of Hy-Vee, said the program is being launched in 81 stores statewide throughout May. Upromise/College Savings Iowa shelf tags are being placed in Hy-Vee stores identifying participating Upromise brands so customers need only look for the “U” when shopping to save.

"With the introduction of the Hy-Vee/Upromise college savings card and the new shelf tags, it’s so simple for Hy-Vee shoppers to save money toward college,” said Jurgens. “Upromise has assembled the country's largest coalition of companies dedicated to helping families save for college and Hy-Vee is proud to be one of them.”

Jim Fadule, president of Upromise Investments, Inc. said Upromise’s presence in Hy-Vee stores across Iowa is a win for anyone saving for a child’s college education.

“Upromise is excited to team with Hy-Vee and College Savings Iowa to make it easier for families to save for college through their everyday grocery purchases,” said Fadule. “Simply by making purchases of their favorite participating products, Iowans can join millions of others throughout the country receiving college savings that can be added automatically to College Savings Iowa 529 accounts.”

College Savings Iowa was established in 1998.  Kiplinger’s Personal Finance magazine recently named it among its favorite 529 plans offering plan participants 12 investment choices, flexible contribution options and one of the lowest costs of any 529 plan in the country. The Vanguard Group, the nation’s second largest mutual fund firm, is the provider of investment management and client service to the plan’s participants.

For more information about College Savings Iowa or to open an account, call 888-672-9116, or visit www.collegesavingsiowa.com.

About Upromise Upromise is the country's largest non-governmental service helping families save for college. Membership is free and allows families to automatically save money for college while making everyday purchases at more than 20,000 grocery and drug stores, 14,000 gas stations, 8,000 restaurants, 10,000 hotel locations nationwide, thousands of retail stores and over 250 online shopping sites. Upromise's partners include America Online, Citi®, Coca-Cola®, ExxonMobil Corporation, Kellogg Company, Kimberly-Clark, McDonald's®, SBC Communications, JCPenney.com, LandsEnd.com, sears.com, and hundreds of others. Upromise also makes it easy for families to invest in tax-advantaged college savings plans and to use contributions to pay off student loans. The 529 college savings plans are offered through Upromise Investments, Inc. (member NASD/SIPC). Upromise is headquartered in Needham, Mass. For additional information, visit www.upromise.com or call 781.707.8400.

About College Savings Iowa In 2003, Kiplinger's Personal Finance and Money Magazine named College Savings Iowa among the top 529 plans in the nation. The program lets anyone - parents, grandparents, friends and relatives - invest for college on behalf of a child. Investors do not need to be a state resident and can use their 529 savings to pay for qualified higher education expenses, including tuition, books, supplies, and room and board at any college, university, community college, or accredited technical training school in the United States.  The Vanguard Group has provided investment management since 1998 and client service to the plan's participants since 2001.

Iowa residents can deduct up to $2,290 of contributions per account from their adjusted gross income for each child they are saving for. CONTRIBUTIONS MUST BE RECEIVED BY DECEMBER 31ST TO GET THE 2004 TAX BENEFIT.  Withdrawals from the plan for qualified higher education expenses are also free from federal* and Iowa income taxes.

For more information on College Savings Iowa visit www.collegesavingsiowa.com or call (888)-672-9116.

* Unless the law providing this federal income tax exemption is extended, the exemption will not apply to withdrawals made after December 31, 2010.

About Hy-Vee Hy-Vee, Inc. is an employee-owned corporation operating more than 220 retail stores in seven Midwestern states. The grocery chain provides career opportunities for more than 47,000 employees and generates annual sales in excess of $4.6 billion, ranking among the top 15 supermarket chains in the nation. Hy-Vee is headquartered in West Des Moines, Iowa. For more information, visit www.hy-vee.com.