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Coverdell Education Savings Account

Individual Retirement Accounts (IRA)

Start saving for your child’s education now with a Coverdell Education Savings Account, and you can avoid all taxes when using the funds for educational purposes.1

 

 

Flexible IRA Savings (includes Traditional, Roth, & SEP IRAs and CESAs)
Balance Range for Dividends1 Nominal Rate/APY**
$0.00 to $99.99 0.00% / 0.00%
$100.00 to $4,999.99 0.20% / 0.20%
$5,000.00 to $9,999.99 0.35% / 0.35%
$10,000.00 or more 0.45% / 0.45%

IRA and CESA products can only be opened in branch.

1 Average daily balance of $100 must be maintained to earn dividends. Dividends paid monthly.

** APY = Annual Percentage Yield

Product Details

  • Withdrawals are tax free if used for educational expenses.2
  • Total contributions cannot exceed $2,000 in any calendar year, regardless of the number of accounts established.
  • Children must be members and under 18 years of age, with no age restrictions for children with special needs.

Ready to get started?

Visit one of our 15 locations to open today!

1 For complete details on limits and requirements, please consult with a Credit Union of America (CUA) representative.

2 Consult a tax advisor.