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He or she might be a kiddo now, but one day soon they’ll be packing to move to campus. Be prepared with a Coverdell ESA.

Key Features

  • Tax Advantages*
  • Competitive Dividends
  • No Setup or Annual Fee
  • Start saving now to fund your children's, grandchildren's, nieces', or nephews' education
  • No setup or annual fee
  • Dividends grow tax-free
  • Withdrawals are tax-free when used for qualified education expenses*
  • Designated beneficiary must be under 18 when contributions are made
  • $2,000 maximum annual contribution per child
  • Contributions are not tax deductible
  • Certain income limits apply for contributions**
  • The money must be withdrawn by the time beneficiary turns 30***
  • The ESA can be rolled over without penalty to another family member
  • Funds can be deposited into our ESA savings account and ESA Certificates of Deposit (CD)
  • $500 minimum deposit to open an ESA CD
  • $100 minimum deposit to earn dividends on the ESA savings account

*Subject to some minimal conditions. Consult a tax advisor.

**Consult a tax advisor.

***Or older for special needs beneficiary.