Coverdell Educational Savings Account

Saving for college or future education expenses? Maximize your educational dollars with a Coverdell Educational Savings Account (ESA) with Corporate America Family Credit Union. When your child needs money for qualified education expenses, funds can be withdrawn from the ESA tax-free to pay for them.

A Coverdell ESA offers these features:

  • Make after-tax contributions of up to $2,000* a year per child
  • Potential tax savings
  • Contributions can be made for any child in your family under 18 years old
  • Contributions can be made by anyone
  • Multiple share certificate terms to fit your child's investment needs
  • Can be used to pay tuition, fees, books and equipment for enrollment and/or attendance at an eligible educational institution
  • Federally insured up to $250,000 by NCUA

Open a Coverdell ESA today! 

Log In to Open Account

Visit Accounts > IRA Service Center to get started.

Note: You must be a current CAFCU member to open an account online.

$1,000 minimum APY** Dividend Rate
6-month 0.25% 0.25%
12-month 0.35% 0.35%
24-month 0.40% 0.40%
36-month 0.60% 0.60%
$10,000 minimum APY** Dividend Rate
6-month 0.30% 0.30%
12-month 0.40% 0.40%
24-month 0.45% 0.45%
36-month 0.65% 0.65%

 

For more information or questions connect with us:

 

* Your income may limit the amount you can contribute to an ESA. Consult your tax advisor.

+Penalties will apply for early withdrawal of funds.

**APY = Annual Percentage Yield.