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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 and housing. 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earn interest and are free from federal taxation as long as they are used to pay for qualifying education expenses and withdrawn before the child reaches 30.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.

 

Coverdell Education Savings Account (CESA) Features

  • ANNUAL contributions cannot exceed $2,000/year
  • TAX-FREE earnings
  • CONTRIBUTIONS made until beneficiary is 18 years old
  • EARNINGS to be used on educational expenses: tuition, fees, books, supplies, equipment, housing
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UHCU College Savings Tips

By making smart financial choices, you'll be able to save for college tuition and other higher education expenses.

  • Start as soon as possible.
  • Stocks are a great option for your college savings portfolio.
  • Mutual funds can help you reach your savings goals.
  Learn More
 

Coverdell Education Savings Account Amendment

Please review a copy of the Amendment that includes changes made to a law and policy that affect your IRA.

Please contact us if you have any questions regarding the changes at 800.531.2328 - press “0” to speak with a Telephone Service Representative.
 
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Membership/Regular Savings account required.
Programs (including without limit, fees, rates and features) are subject to change without notice.
See Fee Schedule for applicable fees.


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