Entergy Launches Child Savings Account Program in Louisiana

Rhea-AI Summary

Entergy Louisiana and Entergy New Orleans announced the launch of a child savings account program called Kids to College, aimed at supporting low- and moderate-income families in Louisiana. The companies will donate $175,000 to help families establish savings accounts, providing a $50 match for eligible participants. Families must meet specific income thresholds and register through the Kids to College portal. The initiative, powered by an endowment in honor of former Chairman J. Wayne Leonard, underscores Entergy's commitment to enhancing education and community opportunities.

Positive

• Entergy Louisiana and Entergy New Orleans are donating $175,000 for the Kids to College program, promoting education.
• The program aims to establish child savings accounts for low- and moderate-income families.
• Eligible families receive a $50 matching contribution, encouraging savings for postsecondary education.

Negative

• None.

NEW ORLEANS, LA / ACCESSWIRE / March 7, 2023 / As part of the companies' commitment to developing healthy, vibrant communities with greater access to education and workforce opportunities, Entergy Louisiana and Entergy New Orleans launched a new child savings account program, Kids to College. The companies will donate $175,000 to help low- and moderate-income Louisiana families establish child savings accounts. Eligible families can sign up for a Kids to College account to receive a $50 match from Entergy.

"Education is the cornerstone for a successful Louisiana," said Phillip May, president and CEO, Entergy Louisiana. "With these funds not only are we ensuring the next generation is set up for success, but we're also helping deliver a brighter future for the communities in which we all live and serve. I'm so proud and humbled to play a small part in that success."

"Everyone deserves the opportunity to continue their education and we want to partner with families to help make those dreams a reality," said Deanna Rodriguez, president and CEO, Entergy New Orleans. "This will give so many a step forward on a path that they otherwise may not receive. Investing now in our future is how we lift up our communities for future success."

A Child Savings Account (CSA) is a savings account designed specifically for postsecondary education. These accounts allow families to put money away to start saving for their children to attend a two- or four-year college, trade school or technical school.

Families may sign up for a Kids to College account for each child under age 16. Eligibility requirements to qualify for Entergy's $50 match include:

• Must be an Entergy customer.
• Families must meet income thresholds of either single parent or guardians with up to $52,000 annual income or dual earner households with $60,000 annual income.
• The child savings account must reach a $50 balance to receive the matching funds.

Entergy is powering Kids to College by dedicating matching funds for CSAs across our four-state service area. The program is made possible thanks to an endowment fund created in honor of Entergy's late Chairman and CEO J. Wayne Leonard.

Eligible individuals can sign up for an account through the Kids to College portal entergy.com/kids.

About Entergy Louisiana

Entergy Louisiana, LLC provides electric service to more than 1 million customers in 58 parishes and natural gas service to more than 94,000 customers in Baton Rouge, Louisiana.

About Entergy New Orleans
Entergy New Orleans, LLC is an electric and gas utility that serves Louisiana's Orleans Parish. The company provides electricity to more than 209,000 customers and natural gas to more than 110,000 customers.

Both companies are subsidiaries of Entergy Corporation, an integrated energy company engaged in electric power production, transmission and retail distribution operations. Entergy delivers electricity to 3 million utility customers in Arkansas, Louisiana, Mississippi and Texas. Entergy owns and operates one of the cleanest large-scale U.S. power generating fleets with approximately 30,000 megawatts of electric generating capacity, including 7,000 megawatts of nuclear power. Headquartered in New Orleans, Louisiana, Entergy has annual revenues of $10 billion and approximately 12,000 employees.

View additional multimedia and more ESG storytelling from Entergy Corporation on 3blmedia.com.

Contact Info:
Spokesperson: Entergy Corporation
Website: https://www.3blmedia.com/profiles/entergy-corporation
Email: info@3blmedia.com

SOURCE: Entergy Corporation

View source version on accesswire.com:
https://www.accesswire.com/742433/Entergy-Launches-Child-Savings-Account-Program-in-Louisiana

FAQ

What is the Kids to College program launched by Entergy?

The Kids to College program is a child savings account initiative aimed at helping low- and moderate-income families in Louisiana save for their children's postsecondary education.

How much is Entergy donating to the Kids to College program?

Entergy is donating $175,000 to the Kids to College program.

What is the matching contribution for eligible families in the Kids to College program?

Eligible families can receive a $50 matching contribution for their child savings accounts.

What are the income requirements to qualify for the Kids to College program?

Single parent or guardian households must have an annual income of up to $52,000, while dual earner households must have up to $60,000 to qualify.

How can families sign up for the Kids to College account?

Families can sign up for a Kids to College account through the portal available at entergy.com/kids.