Coverdell Education Savings

Apply at Branch or Call 1-800-999-3961

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This is a tax advantaged way to save for a child's education.

  • Deposit up to $2,000 per year for each child under 18
  • Withdraw money without 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  • Money must be withdrawn by the time the child reaches age 30 (late withdrawal penalty may apply)
  • Low $500 minimum opening deposit
  • Open a Coverdell Education Savings Account Accumulator with no minimum deposit
  • Open a Coverdell Education Savings Dedicated Savings account with no minimum deposit and an automatic monthly deposit of as little as $10 per month.

Coverdell Ed Rating


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Savings Rates

Certificates Savings Checking
Type APY
12 Month Flexible 1.25%
3-5 Months 0.75%
6-11 Months 1.05%
12-23 Months 1.35%
24-29 Months 1.60%
30-35 Months 1.85%
36-47 Months 2.10%
48-59 Months 2.35%
60 Months 3.10%
Rates Effective November 18, 2009
Type APY
Share Savings 0.40%
Money Market
$0-$4,999.99		 0.40%
Money Market
$5,000.00-$9,999.99		 0.50%
Money Market
$10,000.00-$24,999.99		 0.55%
Money Market
$25,000.00-$49,999.99		 0.80%
Money Market
$50,000.00-$99,999.99		 0.90%
Money Market
$100,000.00-$249,999.99		 1.06%
Money Market
$250,000.00+		 1.15%
IRA Accumulator 0.90%
Rates Effective November 18, 2009
Type APY
Regular Checking 0.15%
Money Market Checking
$0-$1,999.99		 0.00%
Money Market Checking
$2,000.00-$9,999.99		 0.15%
Money Market Checking
$10,000.00-$24,999.99		 0.25%
Money Market Checking $25,000.00-$49,999.99 0.35%
Money Market Checking
$50,000.00-$99,999.99		 0.40%
Money Market Checking $100,000.00-$249,999.99 0.50%
Money Market Checking
$250,000.00+		 0.60%
Rates Effective November 18, 2009

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