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
  • $ 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.