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.
- 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.