Coverdell Education Savings Accounts (ESAs)
A great way to help pay for your child’s educational expenses, such as tuition, fees, books, supplies, and equipment
- Your earnings grow on a tax-deferred basis and distributions are tax-free if the money is used to pay qualified education expenses.
- Yearly contributions cannot exceed $2,000 per child.
- Anyone, family member or non-family member, can contribute to a child's ESA.
- Contributions can be made until he or she reaches the age of 18.*
- ESA contributions do not affect your ability to make Traditional or Roth IRA contributions.
- Rates are set by the Board of Directors and dividends are paid quarterly.
*The age 18 limit does not apply to special needs individuals.
Visit a Local Branch to open an Education Savings Account today!