A Coverdell Education Savings Account offers flexibility funding of your child's education expenses. Up to $2,000 can
be contributed to a single beneficiary's account per year. There is no tax deduction for the contribution; however,
all amounts withdrawn for qualified educational expenses are tax-free. Some of the benefits include:
- Your account
begins to earn dividends with any positive balance.
- Deposits can be made through direct deposit, by
mail or in person at any branch.
- Dividends are compounded daily and
credited to your account monthly.
- All savings accounts earn dividends and are federally insured to at least
$250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency.
To open a Coverdell Education Account, come into any branch
and speak to a Specialty Services Representative today!