Coverdell Education Savings Account (CESA)

Coverdell Education Savings Account (Formerly known as the Education IRA) helps you save for qualified education expenses required for the enrollment or attendance of the designated beneficiary at an eligible educational institution.

Expenses can be either for higher education, elementary or secondary education. Eligible educational institutions include postsecondary, elementary and secondary schools. The designated beneficiary must be under age 18 or be a special needs person.

• No annual maintenance fees
• Qualified distributions are tax-free
• Low opening deposit of $25.00
• Funds are transferable to another child
• Early withdrawal exceptions
• NCUA federally insured