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- Money must be withdrawn by the time the child reaches age 30 (late withdrawal penalty may apply).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
- 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.