Coverdell Education Savings


  • Coverdell Education Savings

Key Features

Choose from 1, 2, 3, 4, 5, or 7 Year Education Savings Certificates.

TermDividend RateAPY
1 Year1.25%1.26%
2 Year1.45%1.46%
3 Year1.70%1.71%
4 Year1.75%1.77%
5 Year2.05%2.07%
7 Year2.10%2.12%

 *Please see 'Details and Disclosures' below for important account information. 


  • Savings for education expenses 
  • Tax free earnings
  • Funds can be used for qualified elementary and secondary education as well as college education 

Keep in Mind: Consult a tax adviser. Maximum yearly contribution is $2,000. Education Savings Share Account min. opening deposit is $25. Education Savings Account Certificate min. opening deposit is $500.

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Details and Disclosures

Coverdell Education Savings 

APY (Annual Percentage Yield)  is accurate as of June 1, 2017 - June 30, 2017 and is subject to change at any time. Fees may reduce earnings. 


We will establish your certificate on the day we receive your application and funding. Once purchased, the rate is locked in for the term of your certificate.


Certificate dividends are compounded daily and credited monthly.


Early Redemption Penalties 

Penalties are imposed for early withdrawal of Coverdell Education share certificates. You must provide your request in writing.


If the certificate is redeemed within the first year, all dividends will be forfeited.


If after the first year, but prior to the maturity date, the early withdrawal penalty will equal 30% of what would have been earned if the certificate had been held to maturity, not to exceed total dividends earned. For all certificates funded by ACH, funds cannot be withdrawn within the first 60 days of the account opening.