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It’s never too early! Start saving today for elementary, secondary and higher education expenses through a Coverdell Education Savings account and watch your earnings grow tax-free!

Coverdell Education Savings Account

The Coverdell Education Savings Account allows you to make non-deductible annual contributions up to $2,000 per year for each child until they reach age 18.

The tax-free earnings can be used to pay qualified elementary and secondary school expenses as well as those for higher education. Coverdell Education Savings Accounts are trust accounts for the designated beneficiary,and are insured up to an aggregate $250,000.

IRA & Education Savings Account Rates
Effective Sep 28, 2022
Description Dividend APY* Min Open Deposit
Traditional, Roth or Coverdell Share Account 0.10% 0.10% $25
*APY = Annual Percentage Yield

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Frequently Asked Questions

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