Education Savings
Pave the way for your child’s education.
Secure your child’s educational future today.
Our Coverdell Education Savings Account (ESA) offers a tax-advantaged way to save for all stages of your child’s educational journey—from elementary through higher education.
Benefits
Tax advantages
Enjoy the benefits of tax-deferred growth and tax-free withdrawals, as long as the funds are used for qualified educational expenses.
Flexible educational use
Whether it’s tuition, books, or other educational materials, funds can be used for elementary, secondary, and higher education.
Inclusive eligibility
Almost anyone can contribute to your child’s ESA if they meet income requirements, making it easier for family and friends to support your educational savings goals.
Support for special needs
Special provisions ensure that beneficiaries with special needs can receive educational support beyond the age of 18.
Investment opportunities
Choose how you save with options ranging from high-yield savings accounts to term share deposits.
Current Rates
|
Type |
Minimum to Earn APY |
Balance Tier |
Dividend Rate |
APY |
|---|---|---|---|---|
| Rates effective 10/12/2024 | ||||
|
APY= Annual Percentage Yield. Early withdrawal penalties may apply. Fees could reduce earnings. |
||||
|
Type 18-month |
Minimum to Earn APY $5.00 |
Balance Tier $5.00 – $24,999.99 |
Dividend Rate 4.00% |
APY 4.17% |
|
Type 18-month |
Minimum to Earn APY $25,000 |
Balance Tier $25,000 and over |
Dividend Rate 4.15% |
APY 4.23% |
Coverdell ESA today
Visit a branch or contact us to learn more about how our Coverdell ESA can help you set aside money for your child’s education.
