A Versatile Tool for Education Savings
A Coverdell IRA is a savings account designed to help families save for educational purposes. It provides a tax-advantaged way to save for education-related costs. These accounts can be used for a wide range of educational expenses, including tuition, textbooks, tutoring, and other necessary supplies, including room and board if the student is enrolled at least half-time at any eligible K-12 or College institution.
Age, income level & contribution limitations may apply.
- $50 minimum deposit
- Higher dividend rates
- Maximum contribution of $2000 each year, per beneficiary
- Contributions can be made until the child is 18 years old and must be used by the age of 30.
- Withdrawals are tax-free if used for educational purposes.
Maximize your savings for educational expenses. Empower your child's learning journey with tax-advantaged savings today!
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Rates
IRA Savings Rates
| Minimum Balance | Dividend Rate | APY |
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Rates effective as of: December 21, 2024
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Access Online Banking
NMLS#
|
CentricityCU |
NMLS# 712334 |
|
Feather Tankersley |
NMLS# 1016179 |
|
Linda Proctor |
NMLS# 343288 |
|
Billye Coenen |
NMLS# 758779 |
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