Education Savings

An investment in education is always money well spent. Help your kids save for their education with a Coverdell Education Savings Account. Formerly called an Education IRA, this account earns tax-free interest when used to pay the qualified education expenses of a designated beneficiary.

Education Savings
  • Summary

    • Deposits and interest grow tax-free
    • Distributions are tax-free as long as they are used for qualified education expenses (tuition and fees, books, supplies, board, etc.)
    • If distributions exceed qualified education expenses, that portion is taxable
    • Virtually all accredited public, private, and religious institutions are eligible
    • Competitive interest rates
    • Free online banking
    • Only $1,000 to open
    • FDIC insured

    Check out our current interest rates.

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