First Northern Credit Union - Coverdell Education Savings Accounts
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Coverdell Education Savings Accounts

Save for your child's education today. The Coverdell Education Savings Account is a tax-deferred account that lets you contribute and make deductions specifically for education expenses.

Coverdell Education Savings Accounts are available as both Certificates (see right) and a regular Share Account. Certificates can be opened with a minimum of $500.

Questions? Click here for Coverdell FAQs. And as with any tax-related concern, consult with a tax advisor.

Your savings are federally insured by the NCUA (National Credit Union Administration), an agency of the U.S. Government, for up to $250,000 per member with a separate coverage of $250,000 for Individual Retirement Accounts.
Coverdell Education Saving
Account Certificates
  6 months 1.10 % APY
12 months 1.15 % APY
18 months 1.20 % APY
24 months 1.30 % APY
36 months 1.40 % APY
60 months 1.80 % APY
APY = Annual Percentage Yield
Federally insured by NCUA.


Forms
Coverdell ESA Application and Contribution
(Open a new Coverdell IRA and Contributing at time of opening-optional)


Coverdell ESA Contribution Selection
(Contribute to an existing Coverdell ESA)


Coverdell ESA Withdrawal or Transfer
(Withdrawal from Coverdell or transfer to another Institution)


Coverdell ESA Beneficiary Designation Addendum
(Fill out this form to add more beneficiaries then what is allowed on the application)


Coverdell ESA Beneficiary Designation
(Establish new Beneficiaries – this form overrides all previous designations)



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This page was last revised: 2/13/13