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Coverdell Education Savings Account

Individual Retirement Accounts (IRA)

Start saving for your child’s education now with a Coverdell Education Savings Account, and you can avoid all taxes when using the funds for educational purposes.1

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Flexible IRA (includes Traditional, Roth, and CESA IRAs)
Balance Range for Dividends* Nominal Rate/APY**
$0.00 to $99.99 0.00% / 0.00%
$100.00 to $4,999.99 0.20% / 0.20%
$5,000.00 to $9,999.99 0.35% / 0.35%
$10,000.00 or more 0.45% / 0.45%

IRA products can only be opened in branch.
*Average daily balance of $100 must be maintained to earn dividends. Dividends paid monthly.
** APY = Annual Percentage Yield


Product Details

  • Withdrawals are tax free if used for educational expenses.
  • Total contributions cannot exceed $2,000 in any calendar year, regardless of the number of accounts established.
  • Children must be members and under 18 years of age, with no age restrictions for children with special needs.

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For complete details on limits and requirements, please consult with a Credit Union of America (CUA) representative.

*Average daily balance of $100 must be maintained to earn dividends. Dividends paid monthly.

**APY = annual percentage yield