Coverdell Education Share Certificate

 

Overview

Tax-free dividends for education

Help your favorite student save for tuition, books, and educational supplies with a SEFCU Coverdell Education Share Certificate.*

 

books

Grow Savings for School!

Earnings are tax-free

Features & Benefits

Helps grow their education fund

  • Opened and held by an adult for a child
  • Contribute up to $2.000 a year
  • Earnings are tax-free when you use them for beneficiary’s qualified education expenses
  • If you need to withdraw your contributions (even if it’s not for education), you don’t pay taxes or penalties
  • Funds need to be distributed before the recipient turns 30
  • Transferrable to another family member younger than 30
graduation cap

 


Rates

Fixed Rates

Term Dividend Rate Annual Percentage Yield**
6 months 0.65% 0.65%
12 months 1.50% 1.51%
18 months 2.25% 2.27%
24 months 2.35% 2.38%
36 months 2.50% 2.53%
48 months 2.70% 2.73%
60 months 2.75% 2.78%
24-month add-on 2.35% 2.38%

Compare

See which account is best for you

Coverdell Education Share Certificate

  • Open with $500
  • Six to 60-month term
  • 24-month add-on available
  • Custodial account
  • Dividends are tax-free when used for qualified educational expenses

 

Smart Sense Share Certificate

  • Open with $100; can add to it over the term
  • 18-, 24-, and 36-month terms
  • Account is in child’s name

View Smart Sense Savings


Apply Now

Open a SEFCU Coverdell Education Share Certificate today

Current SEFCU member?

Open Today

Not a member?

Join SEFCU

 

 

 

 

 

Visit a branch near you

Call 800-727-3328

 

Coverdell Education Share Certificate

Build up a college fund over time

Save up to $2,000 a year

Contributions can be withdrawn anytime (tax - and penalty-free)

Earnings can be withdrawn tax-free for education

 

More on Coverdell

More to think about...

UTMA

Give Them a Head Start on Saving

Account that transfers to child at age 18 or 21

No fees

* Note: Minimum to open and obtain APY for all Share Certificates is $500. Fees may reduce earnings. For Share Certificates, penalties may apply for early withdrawal.
** Annual Percentage Yield. APY is accurate as of today – May 18, 2019. Fees may reduce earnings. For Share Certificates, penalties may apply for early withdrawal.