Coverdale Education Savings (Investment) Accounts

Coverdale Education Savings Accounts (ESA)

Not sure where to start saving for your child’s educational expenses? A Coverdell ESA may be just what you need! Whether it is for elementary, secondary, or higher education, you can kick start your savings now so there are fewer worries when the time comes.

• Minimum opening deposit of $100
• No account fees
• Dividends compound monthly
• Contributions are allowed until the child reaches the age of 18
• Allows annual, non-deductible, contributions of up to $2,000 per child
• Tax-free withdrawals for qualified educational expenses
• Funds are transferrable to a Coverdell ESA for another child or eligible family member (limitations apply)
• Tax-Free earnings for distributions that do not exceed the cost of the beneficiary’s qualified education expenses
• Federally Insured up to $250,000 by the National Credit Union Association