Designed to help parents and others fund a child's education. Contributions and earnings may be withdrawn tax-free when used to pay qualified education expenses.
We offer Coverdell Education Savings Accounts (CESA) to help you meet your education goals for today and tomorrow. Each plan may have one or more Savings and/or Certificate of Deposit accounts.
- Education Savings are a simple way to save for education expenses
- Education Certificate of Deposits help you lock in earnings to meet your educational goals
- There is no Monthly Maintenance Fee
- Annual Administration: $15.00 for each education plan
- Partial Distribution or Transfer: $7.50 per occurrence (does not apply to mandatory or normal distributions)
- Periodic Distribution Setup: $15.00 for each education plan (does not apply to mandatory or normal distributions)
- Lump Sum Distribution: $20.00 for each education plan, at plan termination
Consult the Consumer Fee Schedule for current service fees and the Consumer Deposit Account Agreement and Disclosures for terms and conditions.
Consult the Coverdell Education Plan fact sheet for more Education Plan information.
Open an Account
To open an Education Savings or Certificate of Deposit account, please give us a call at 1-800-982-2660 or visit your local branch .
Please scroll to the left to view the rest of the table.
|Education Savings||Education Savings Plan||Education Savings Premium||Education Certificate of Deposit|
Best Used For
|For education savings balances between $250 and $9,999||For education savings between $10,000 and $49,999||For education savings $50,000 and above||1, 3 and 5-year terms available to help meet your education savings goals|
|Monthly Maintenance Fee||None||None||None||None|
|Minimum Opening Deposit||$250||$10,000||$50,000||$1,000|
|Earns Interest|| || || || |
|Annual Administration Fee per Education Plan. An Education Plan may have multiple deposit accounts.||$15||$15||$15||$15|