Education Savings

Save for your child’s future.

A Coverdell Education Savings Account (CESA) provides a dedicated place to grow savings.

  • Deposit up to $2,000 per year for each child under 18.
  • Withdraw money without an IRS penalty as long as it is used for higher education.
  • Qualified withdrawals are tax-free since deposits are made after taxes.
  • Money must be withdrawn by the time the child reaches age 30 (late withdrawal penalty may apply).
  • Learn more about a CESA at www.irs.gov

Getting Started

  • Competitive rates
  • Savings and Savings Certificate options available
  • Minimum of $25 to open an Coverdell Education Savings Account. View rates.
  • Minimum of $500 to open an Coverdell Education Savings Certificate Account with a term from 6 months to 5 years. View rates.
  • No minimum balance
  • No monthly service fees
  • NCUA insured up to $250,000

Visit a branch to apply.

This information is not intended to provide tax advice. See a competent tax advisor to help you determine which type of Coverdell Education Savings Account best suits your needs.