Coverdell Education Savings Accounts
An account for your child's post-secondary expenses
With education costs climbing each year, it's never too early – or too late - to save for your child's education. To help you get started, UECU offers the Coverdell Education Savings Account (ESA). The Coverdell ESA is a great way for parents to save money for a child's educational expenses, and gives you the flexibility to make deposits in any amount, at any time up to your contribution limit.
Coverdell ESA benefits include:
- A $25.00 minimum opening deposit
- Money grows tax-deferred
- Tax-free withdrawals for higher education expenses
- Dividends earned quarterly
Coverdell Education CDs are also available. We offer a variety of terms from 182 days to 5 years, with a minimum opening deposit of $500.
Click here to view the Coverdell ESA information PDF for useful information such as rules, contribution limits, fees, withdrawals, distribution ages and much more.
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