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.

For more information or to open a Coverdell ESA, please call or visit your credit union branch office, or click here to send us a message via our online contact form.