Coverdell ESAs

Coverdell Education Savings Accounts (ESAs) are a great way to help pay for your child’s educational expenses, such as tuition, fees, books, supplies, and equipment.

  • Unlike State 529 plans, Coverdell ESAs can be used to pay for qualified elementary and secondary education expenses.
  • 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.

Visit the Coverdell ESA brochure for more information .

Give your child the gift of education. For more information about our Coverdell ESAs please contact our Member Services Department

*The age 18 limit does not apply to special needs individuals.