Coverdell Education Savings Account (CESA)
With education costs on the rise, it's wise to start saving for a child’s primary, secondary or higher education as early as possible. UHCU's Coverdell Education Savings Account (CESA) allows you to put aside money for a student's educational expenses - such as tuition, fees, books, supplies, room and board. Any contributions you make to the Coverdell Education Savings Account (CESA) earn interest and are free from federal taxation as long as they are used to pay for qualifying education expenses and are withdrawn before the child reaches 30. This is the perfect way for parents and family members to help fund expensive education costs. For more information on restrictions and benefits, contact your tax advisor.