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Coverdell Education Savings

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 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  • Money must be withdrawn by the time the child reaches age 30 (late withdrawal penalty may apply).
  • 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.
  • Open a Coverdell Education Savings Certificate Account with a low $500 minimum deposit.

Product APY Dividend Rate Min. Opening Balance Min. Earning Balance
APY = Annual Percentage Yield. Fees could reduce earnings. Dividends are credited monthly. The Dividend Rate and Annual Percentage Yield may change monthly for IRA/CESA Accumulator accounts. Rates and terms are accurate as of Wednesday, August 24, 2016 and are subject to change.
IRA/CESA Accumulator 0.25% 0.25% $0.00 $0.00
Product/Term APY Dividend Rate Min. Opening Balance Min. Earning Balance
APY = Annual Percentage Yield. Early-withdrawal penalties may apply. Dividends are credited monthly. Dedicated Savings allow additional deposits of up to $10,000 each calendar month. Each member is limited to $100,000 in any one or combination of Dedicated Savings accounts. Rates and terms are accurate as of Wednesday, August 24, 2016 and are subject to change.
Dedicated Savings 3-5 Months 0.25% 0.25% $0.00 $0.00
Certificate 3-5 Months 0.25% 0.25% $500.00 $500.00
Dedicated Savings 6-11 Months 0.50% 0.50% $0.00 $0.00
Certificate 6-11 Months 0.50% 0.50% $500.00 $500.00
Dedicated Savings 12-23 Months 1.00% 1.00% $0.00 $0.00
Certificate 12-23 Months 1.00% 1.00% $500.00 $500.00
Dedicated Savings 24-29 Months 1.25% 1.24% $0.00 $0.00
Certificate 24-29 Months 1.25% 1.24% $500.00 $500.00
Dedicated Savings 30-35 Months 1.35% 1.34% $0.00 $0.00
Certificate 30-35 Months 1.35% 1.34% $500.00 $500.00
Dedicated Savings 36-47 Months 1.50% 1.49% $0.00 $0.00
Certificate 36-47 Months 1.50% 1.49% $500.00 $500.00
Dedicated Savings 48-59 Months 1.75% 1.74% $0.00 $0.00
Certificate 48-59 Months 1.75% 1.74% $500.00 $500.00
Dedicated Savings 60 Months 2.30% 2.28% $0.00 $0.00
Certificate 60 Months 2.30% 2.28% $500.00 $500.00

A Valuable Investment

Investing in education is important for your family's long-term financial health. We have a vehicle to assist.

What Members Are Saying About Our Coverdell Education Savings

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