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Coverdell Education Savings Account

First Credit Union

The Coverdell Education Savings Account (CESA), is a dividend earning account that is established in the name of a student to invest money specifically for educational purposes. A CESA can be used to pay for elementary, high school or college education and expenses. A parent or legal guardian is able to deposit a maximum of $2,000 a year for any child under 18 years old. The CESA features:

  • No fees and a low $25 opening deposit
  • Tax deferred interest
  • Tax free withdrawals for qualified expenses
  • Federally insured by the NCUA

Plan ahead for your child's educational expenses. Opening a Coverdell Education Savings Account is risk free. Visit any branch to open an account.