Coverdell Education Savings Account

A Coverdell Education Savings Account is a sustainable solution for saving for a child’s educational expenses. Funds can be contributed to this account up until the beneficiary’s 18th birthday, and can be used for educational expense including school supplies, tuition, books, and more. Contributions are also tax-deductible, allowing your account to grow tax-free*.

Rates and conditions differ depending on the type of account you choose:

Coverdell Share Savings
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  • No minimum balance requirement
  • Withdrawal and deposit without penalty
  • Dividends are paid and compounded monthly
  • Typically has a lower interest than the Share Certificate option

Coverdell Share Certificate

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  • Minimum deposit of $500 required
  • 12-60 month terms available
  • Total maximum contribution per year is $2,000
  • Typically has a higher rate than the Share Savings option

Start saving for your child’s education today

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Looking for other options?

Traditional IRA
Roth IRA

*Consult a tax advisor to determine what option is right for you.