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A Coverdell Education Savings Account (CESA) offers tax-free earnings growth and tax-free withdrawals when you spend on qualified expenses.1

Key Features

  • Tax Advantages*
  • Competitive Interest
  • No Setup or Maintenance Fees
  • Earnings are distributed tax-free for educational purposes1
  • Rate is guaranteed best savings rate offered by our bank
  • Account balance is insured up to $250,000 by the FDIC and the investment will never go down
  • Educational expenses include college, private high schools, and elementary schools
  • Anyone can directly deposit funds into the account up to a combined total of $2,000 per year
  • Receive a quarterly statement
  • Interest calculated monthly
  • $100 minimum opening deposit
  • $10 minimum monthly deposit via direct deposit or ACH

1The Coverdell Education Savings Account is subject to the appropriate tax laws. Annual contributions are limited to $2,000.00 per year for an individual beneficiary (depending on income) and earnings accumulate in the account tax free. Withdrawals are limited to qualifying educational expenses or are subject to additional IRS penalties. Annual interest rate on Premier College Club Account is a variable rate; see personal banker for current rate. Minimum opening deposit of $100.00 required. Account requires automatic monthly contributions. A penalty will apply if account closed within 6 months. Other fees and restrictions may apply — please inquire for details.