Education Savings Account
ESA Savings Account
With this account, you can make contributions of any amount, any time throughout the year. This is our most liquid Coverdell Education Savings Account (ESA), and a great way to start if you don't yet have enough for the minimum balance of a certificate. See rates.
Withdraws for qualified educational expenses are tax free145
Federally insured to $250,000 by NCUA
Minimum opening deposit of $25
Maximum annual contribution to a Coverdell ESA is $2,000
145) Qualified education expenses may include tuition, fees, books, computer equipment, and technology required for elementary, secondary, and postsecondary education.
G) IRA contributions are limited to $6,000 per year; additional $1,000 allowed for those over 50 years old to "catch up". Rollovers and direct transfers do not count against your contribution limit. The maximum annual contribution to a Coverdell ESA is $2,000.