Ascensus Ugift® Program Surpasses $2 Billion in Contributions

DRESHER, Pa., Jan. 25, 2022 /PRNewswire/ -- Ascensus—whose technology and expertise help millions of people save for retirement, education, and healthcare—announced that more than $2 billion has been gifted to 529 and ABLE savings accounts through the company's Ugift^® program.

Ugift reached the $2 billion milestone earlier this month. This comes just four years after achieving $500 million in contributions in December 2017—and represents a 300% increase in gifts.

Launched in 2007, Ugift is a free service that enables family and friends to contribute to a beneficiary's account. Gift givers are given a unique code for the beneficiary, which allows them to make contributions simply and securely. The code can be shared with friends and family and contributions can be made at any time, either electronically or by mail.

"Surpassing $2 billion in contributions is a significant milestone for the Ascensus Ugift program, signifying that more than ever families are prioritizing savings and using tools like the Ugift program to help them achieve their goals," said Peg Creonte, president of Ascensus Government Savings.

Early in 2021 Ascensus added Ugift to its growing list of features available through its READYSAVE 529 mobile app. Savers can ask friends and family to help them save by simply sending a text message.

All Ugift contributions are directed to the beneficiary's 529 or ABLE account and can be made by ACH transaction or check, with no associated fees charged to the beneficiary or contributor.

"When we launched Ugift 15 years ago, our vision was to provide a simple way for friends and family to contribute to a beneficiary's 529 account," Creonte said. "It is gratifying both to Ascensus and our state partners, to see the extraordinary generosity of family and friends and their increasing prioritization of these savings. We look forward to helping more people support family members over the long term, with the gift of contributions to 529 and ABLE savings accounts."

For more information on Ugift, visit Ugift529.com or UgiftABLE.com.

About Ascensus
Ascensus helps millions of people save for what matters—retirement, education, and healthcare. Through co-branded, private-labeled, and other governmental partnerships, our technology, market insights, and business knowledge enhance the growth and success of our partners, their clients, and savers. Ascensus is the largest independent recordkeeping services provider, third-party administrator, and government savings facilitator in the United States. For more information, visit ascensus.com.

SOURCE Ascensus