Start saving for your child’s future education with an eligible tax-free account.
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Coverdell Education Savings Account
Tax-Free Educational Savings Fund
Are you expecting to pay future education costs? A Coverdell Education Savings Account (ESA) is an ideal account for education saving and spending. With an ESA you can pay tax-free for elementary, secondary and college expenses - including tuition, books and uniforms.
Prepare for your child’s future success with a tax-advantaged ESA.
With a Coverdell ESA you get:
Cover Education Expenses
Spend from the account tax-free on all qualifying education expenses.
Tax-Free Distributions
Tax-free, penalty-free distributions.
$2,000 Annual Limit
Contribute up to $2,000 tax-free dollars annually, for up to 18 years.
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Schedule an appointment to meet with a member representative at your nearest branch.
Get Instant Answers
Anyone can make contributions of up to $2,000 for the beneficiary.
No, if the funds are used for qualified educational expenses, the disbursement is tax-free and penalty-free.
No, the funds can be withdrawn at any time if they will be used for qualified educational expenses.
For Your
Convenience
Easily access your monthly statements online.
Download the Credit Union West Mobile Banking app to access your account on the go.
Transfer money into your savings, review balances and more.
Schedule automatic deposits from your checking to your Coverdell ESA.
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