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.
- Current interest rate is % / % APY1
- $ 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
You may apply for a Coverdell Education Savings account online via Member Access.
1 Quoted rates and annual percentage yields (APY) are subject to change daily.