Ease your child's transition into college — and help them avoid debt — by setting up a Coverdell Education Savings Account.
Key Features
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Competitive Dividends
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Tax Advantages1
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No Setup or Maintenance Fees
Competitive Dividends
Tax Advantages1
No Setup or Maintenance Fees
Benefits
- Pay for qualified education expenses such as tuition, fees, books and more1
- Set aside funds for a child's education1
- Dividends grow tax-deferred
- Withdrawals are tax-free when used for qualified education expenses1
- Child must be under 18 when contributions are made
- Must be eligible to contribute to an ESA, and contribution limits apply1
- Contributions are not tax deductible
- Unused ESA funds may be eligible to be transferred to another member of the family1
- No opening, maintenance or annual fee2
- $100 minimum deposit to open3
Additional Information
1. Consult a tax advisor.
2. A $5 statement by mail fee applies to accounts without e-statements. E-statement enrollment is required. Fee is waived for members with Premier Choice Checking, members under age 18 or over age 60.
3. Must meet Membership and eligibility requirements to open account.