Coverdell ESA

Looking for options to save for your child's educational expenses?  This account, formerly known as an Education IRA, is one to consider in either a Savings or Certificate options.  Contributions are not tax-deductible, but your withdrawals (including earnings) are tax-free if used for tuition, books and other qualified educational expenses.

Your tax advisor can guide you on whether a Coverdell ESA is your best option.  Of course, Credit Union staff are always here to answer your questions and assist in opening your accounts.

Rates

IRAs/ESAs107/25/2014
Dividend Rate Annual Percentage Yield
IRA/ESA savings .40% .40%
1The rate is accurate as of specified date. Variable rate may change after account is open.

Certificates107/25/2014
3 months Dividend Rate Annual Percentage Yield
$1,000 - $9,999.99 .20% .20%
$10,000 - $24,999.99 .25% .25%
$25,000 - $49,999.99 .30% .30%
$50,000 - $99,999.99 .30% .30%
$100,000 + .35% .35%
6 months    
$1,000 - $9,999.99 .25% .25%
$10,000 - $24,999.99 .30% .30%
$25,000 - $49,999.99 .35% .35%
$50,000 - $99,999.99 .35% .35%
$100,000 + .40% .40%
1 year    
$1,000 - $9,999.99 .35% .35%
$10,000 - $24,999.99 .40% .40%
$25,000 - $49,999.99 .45% .45%
$50,000 - $99,999.99 .45% .45%
$100,000 + .50% .50%
2 years    
$1,000 - $9,999.99 .45% .45%
$10,000 - $24,999.99 .50% .50%
$25,000 - $49,999.99 .55% .55%
$50,000 - $99,999.99 .55% .55%
$100,000 + .60% .60%
3 years    
$1,000 - $9,999.99 .60% .60%
$10,000 - $24,999.99 .65% .65%
$25,000 - $49,999.99 .70% .70%
$50,000 - $99,999.99 .70% .70%
$100,000 + .75% .75%
4 years    
$1,000 + .85% .85%
5 years    
$1,000 + 1.00% 1.00%
1Minimum opening balance is $1,000. A penalty may be imposed for early withdrawal. Rates are accurate as of specified date and are subject to change.