Savings

CESA (Coverdell Education Savings Account)

Save and pay for the future with a CESA. This account allows tax- and penalty-free distributions for elementary, secondary and higher education expenses.

Benefits

  • Contribute up to $2,000 annually for each child younger than age 18
  • Enjoy tax-free earnings on your contributions
  • Use the tax-free withdrawals for qualified education expenses such as tuition, fees, books, supplies and required equipment for eligible elementary, secondary or higher education institutions.

Drop in one of our branch locations or call our One Call Center at (888) 522-2265 to get more information or open Coverdell Education Savings Account.

Contact your tax or legal advisor to answer your specific questions about eligibility, distributions and penalties.

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