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The Bahamas P.O.Box CB-12407 Nassau New Providence The Bahamas The Bahamas

CFAL Education Plan

Advantage College

The CFAL Education Plan

With an affordable payment structure, initial minimum investment of only $250, and a monthly contribution of $100, the dream of a better education for your children can now become a reality.

The CFAL Education Plan offers investment options suited to your investment time horizon and tolerance for risk. You can modify your investment option as your child grows, and if your financial situation changes you can increase or reduce your contributions. Make a promise to save and we will help you create a plan to succeed.

THE CFAL EDUCATION PLAN FAQs

Sign up now by completing these steps:

  1. Review the FAQs to learn more about how it works and what you need to do to apply.
  2. Make your initial contribution to CFAL by online transfer to First Caribbean International Bank, Swift Code: FCIBBSNS FCIB-09706 (Main Branch Account No. 201698303). Checking Account RE: CFAL Advantage College Plan. Please ensure that you reference your name and the plan’s name; Eg: “Jane Doe/ CFAL Advantage College Plan”.
  3. Click the link below and complete the application form, then upload your and the child’s required documents and proof of online transfer.
  4. That’s it! Our team will contact you once your application has been processed.

With our 24/7 online account monitoring system, you can track your savings once your application has been processed and your first deposit has been received!

Q: Do I need to be a FCIB client to make deposits?

A: No. You can transfer funds from any commercial bank to our bank account once you have the online transfer feature. However, as deposits from differing banks normally take 2-3 business days to reflect on the bank account funds are to be transferred to our bank account a minimum of three (3) business days before the end of any month which you are contributing/joining.

Q: Can I deposit more than the monthly contributions?

A: Yes, you can deposit more than your monthly contributions. The more you put aside today, the more you will have towards your child’s future. The CFAL Education Plan offers you an affordable plan to help you prepare for your child’s educational expenses. With an initial deposit of only $250 and a monthly contribution of as little as $100, you make a better education possible for your child.

Q: Do you accept cash?

A: Cash contribution are not allowed. Contribution can only be made via online transfer. First Caribbean International Bank, Swift Code: FCIBBSNS FCIB-09706(Main Branch_ Account No. 201698303. Checking Account RE: Advantage College Plan (Indicate Client Name on Deposit).

WHENEVER A DEPOSIT IS MADE TO THE ACCOUNT, PLEASE SEND AN E-MAIL PROVIDING PARTICULARS TO ENSURE YOUR ACCOUNT IS CREDITED IN A TIMELY MANNER TO THE FOLLOWING: -Charlestina Bowles – cbowles@cfal.com.

Q: What if I can’t make my contributions?

A: There are no penalties associated with missing monthly payments.

Q: What documents do I need to participate in the CFAL Education Plan?

A: Please sign up using our website www.cfal.com/cfal-education-plan. You will need the following: For the adult:- electronic copies of y o u r Valid Passport, NIB card or Driver's License and a current Proof of Address (recent utility bill, bank statement or purple voter's card). Also, you will need to upload your proof of initial transfer minimum ($250.00) along with your documents. For the child:- electronic copies of Valid passport and NIB Card. Adobe pdf format is preferred.

Q: How often am I required to make contributions?

A: You may make monthly contributions, or you may contribute a lump sum and allow it to grow.

Q: How will the funds be invested?

A: Our flexible investment plans can be customized to fit you budget, time horizon, and risk tolerance. You may choose to modify your investment options as your child grows, and you can increase or reduce your contributions if your financial circumstances change. You may choose between the CFAL Bond Fund, CFAL Balanced Fund and CFAL Target Rate Fund.

Q: What evidence of membership will I receive?

A: When you enroll, CFAL will provide you with an enrollment confirmation and online access to your account. You will also receive a statement once a year, showing the balance of your CFAL Education investment.

Q: Who to contact should I have questions?

A: Should you have any questions you may contact:

Charlestina Bowles

Ph: (242) 502.7010

Fx: (242) 356.3677

Email: cbowles@cfal.com or info@cfal.com

CFAL Education Plan Application Form