Education Savings

Start saving today for your child’s education.

Coverdell Education Savings Account (ESA)

Up to $2,000 can be contributed per year for a child under 18 in an ESA. Contributions are not tax deductible, however earnings and distributions are tax-free when used for tuition and educations expenses.

Choose Your Account Type

We offer both Accumulation Savings IRAs and Share Certificate IRAs.

An Accumulation Savings IRA is a variable rate account that allows for frequent, regular deposits. It is excellent for payroll deductions. Rates can fluctuate on a monthly basis and the minimum deposit is $10.00.

An IRA Share Certificate is a fixed rate account that is designed for a one-time deposit. The minimum deposit for an IRA Share Certificate is $250. Rates for this account are “locked in” for the length of the maturity period and the dividends are compounded on a quarterly basis. Learn more about Share Certificates.

Already have an ESA?

You can rollover or transfer an existing ESA or lump sum to a new ESA at your credit union without withdrawing funds from the ESA.

ESA Dividend Rates

Effective January 1, 2017
 Min BalanceDividend RateAPY*
*APY=Annual Percentage Yield.
A penalty of 180 days dividend is imposed for early withdrawal for all IRA Share Certificate terms except for 12 month certificates, which have a 90 day dividend penalty.
A $10.00 penalty is imposed on all IRA accounts withdrawn for transfer to another financial institution.
Accumulation IRA (variable rate)$100.10%0.100%
12-Month Certificate$2500.25%0.250%
18-Month Certificate$2500.30%0.300%
24-Month Certificate$2500.40%0.401%
48-Month Certificate$2500.60%0.601%

Visit one of our branch locations to open your ESA.