Coverdell Education Savings Account (CESA)

State Employees' Credit Union offers the Coverdell Education Savings Account (CESA) as a method of saving for elementary, secondary and higher education expenses.

Features

• Current interest rate is % / % APY¹
• $25 minimum opening deposit
• Established in the name of the designated beneficiary, an SECU member under the age of 18 or with special needs
• Can be established by parents, grandparents, or other interested individuals
• Contributions made with after-tax dollars
• Earnings grow tax-deferred
• Tax-free withdrawals to pay qualified education expenses

For more detailed information regarding contributions, withdrawals or other account features, please review the Coverdell Education Savings Account Brochure.

You may apply for a Coverdell Education Savings account online via Member Access.

Other Related Links:

• College Foundation of NC Website
• Member Access
• Rules and Regulations Brochure
• Student Loans