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
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, and for accounts that have a monthly direct deposit of $100 or more.
3. Must meet Membership and eligibility requirements to open account.