A Coverdell ESA is a tax-advantaged savings account for higher education expenses or qualified elementary and secondary education expenses. Contributions to this type of education savings account are not tax-deductible, but deposits grow tax-free until the money is used.
- Open with $100
- Provide savings for higher education at a higher dividend rate
- Contribute up to $2,000 per year, per child
- If funds are not used, you may transfer to another qualifying child
- Move funds between variable-rate or fixed-rate CD
Not a Security Service Member?
There are thousands of ways to qualify for membership. Find out if you qualify in the first step of the application or stop by one of Security Service's branches in Colorado, Texas, and Utah.
Must meet membership requirements and must open and maintain a Security Service Savings account (either a Security Service Basic Savings Account or a Youth Savings Account) with a $5 balance.