Save for your child’s education expenses with a Coverdell Education Savings Account.
- $1 minimum opening deposit into a savings account
- $500 minimum opening deposit into a certificate of deposit
Distributions are tax-free as long as they are used for qualified education expenses before the owner reaches the age of 30. See current IRS guidelines for penalties.
Contributions are not tax deductible.
Coverdell ESA
Effective Date: Sunday, November 27th, 2022
| Name | APY* | Dividend Rate | Minimum to Earn Interest |
|---|---|---|---|
| Coverdell ESA | 0.50% | 0.50% | $1 |