Save for your child's future education expenses
With the option to change the amount and frequency of contributions, you can open a savings account to prepare for your child's future tuition and academic expenses.
No Income Qualifications
You can open an account to save for your child without restrictions based on your income.
Potential Tax Benefits
Save on federal taxes since the earnings in this account stay tax-deferred, and withdrawals may not be taxed as well. Consult a tax professional.
Flexible Contributions
Depending on your financial situation, you can adjust the frequency and amount of contributions you make.
Rates
View ratesCalculate your monthly savings
Let's see what your earnings could be.
Final Balance
Contributions: | Earnings:Building a brighter future
No matter what your income level, you have a chance to save money for your child's academic future. Other traditional methods such as Roth IRAs often have income requirements, but with a Coverdell Education Savings account, growing funds for your child's future is even more possible.
Save according to your schedule
Don't worry about having to keep up a fixed contribution schedule for your account . With simple adjustments you can tailor the amount and frequency of contributions according to what works best for you, your income, and your budget.
Whenever help is needed they are always ready to help and resolve.
-
1
Open Coverdell Education Savings Account
You can sign up for an account by contacting Member Services or visiting your local branch.
-
2
Make initial contribution
Deposit some funds to get your child's education savings started.
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3
Allow savings to grow
Make frequent contributions and allow the savings to increase over time.
Have a question? Get in touch with us
Start saving now and secure a brighter future for your child
With the ability to customize contributions, you can watch with pride as funds accumulate over time, ready to cover tuition or other qualifying education-related expenses.
Coverdell Education Savings Account Rates
| Type of Account or Certificate | Term | Minimum Balance | Dividend Rate (APR) | Annual Percentage Yield (APY) |
|---|---|---|---|---|
|
Fixed Rate |
Savings* |
$118 |
0.05% |
0.05% |
|
91 Day |
$500 |
2.00% |
2.02% |
|
|
6 Month |
$500 |
2.25% |
2.27% |
|
|
9 Month |
$500 |
2.50% |
2.53% |
|
|
12 Month |
$500 |
3.00% |
3.04% |
|
|
18 Month |
$500 |
3.25% |
3.30% |
|
|
24 Month |
$500 |
3.75% |
3.82% |
|
|
30 Month |
$500 |
2.25% |
2.27% |
|
|
36 Month |
$500 |
2.50% |
2.53% |
|
|
48 Month |
$500 |
2.75% |
2.78% |
|
|
60 Month |
$500 |
3.00% |
3.04% |
as of 04/15/2024
* There are no dividend penalties on the Coverdell ESA Savings Account
APR= Annual Percentage Rate. APY = Annual Percentage Yield. The APY is based on an assumption that dividends will remain on deposit until maturity. Rates are reviewed weekly and are subject to change without notice. APY assumes dividends will remain on deposit until maturity. Dividends are calculated by the average daily balance method. Membership eligibility required. Specials are subject to change without notice and restrictions may apply. Fees may reduce earnings on account.
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Rates effective as of: April 19, 2024
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