Coverdell ESA
Give them a head start
A savings account that is set up to pay the qualified education expenses of a designated beneficiary under 18.
Share
- Open a Coverdell ESA Share with $25 with no fixed term
- Deposits up to $2,000 per calendar year
- No penalty from Credit Union for withdrawals (IRS penalties may still apply)
- No maintenance fee.
- Rates vary. See rates page.
Certificate
- Open a Coverdell ESA Certificate with $500 to start at a fixed term
- Certificates will automatically roll over at maturity, with the same term and current rate unless member request different
- Deposits are tax-deferred, and limited to $2,000 per calendar year
- Subject to early withdrawal penalties (IRS penalties may also apply)
- No maintenance fees
- Rates based on Certificate term, see below.
Interested in Coverdell ESA?
Simply provide your name and phone number and we’ll give you a call.
Or call us at 562.862.8141
Coverdell ESA Certificate Rates
| Term | Dividend Rate* | APY+ |
|---|---|---|
| 12 months | ||
| 18 months | ||
| 24 months | ||
| 36 months | ||
| 48 months | ||
| 60 months |
Open a Coverdell ESA
Members
If you are already a DFCU member, simply call 562.862.8141 or email feedback@downeyfcu.org to open this account.
Non-Members
If you aren’t a DFCU member yet, visit our branch to open this account.
- $100 minimum to earn dividends
- Dividends compounded daily and paid quarterly on average daily balance
- No withdrawal penalties from credit union
- No monthly service charges
