Coverdell ESA

Looking for options to save for your child's educational expenses?  This account, formerly known as an Education IRA, is one to consider in either a Savings or Certificate options.  Contributions are not tax-deductible, but your withdrawals (including earnings) are tax-free if used for tuition, books and other qualified educational expenses.

Your tax advisor can guide you on whether a Coverdell ESA is your best option.  Of course, Credit Union staff are always here to answer your questions and assist in opening your accounts.


  • Qualified withdrawals are tax-free
  • Withdrawals can be for education expenses from elementary school through college
  • Can be transferred to another family member if not used before the student is 30
  • Funds are under the account holder's name, and have no impact on financial aid eligibility
  • Deposits insured up to $500,000
Save the right way for every phase of your loved ones' educational expenses!