Make Your Child's Education More Affordable

Orlando Credit Union is #investinginU by offering a smart way to invest in your child’s education. By opening an Education Savings Account (ESA), you can save for qualified expenses such as tuition, books, equipment—even academic tutoring.

Coverdell ESA

Funds for All Educational Levels

Open a Coverdell Education Savings Account to begin building funds for your child’s education. Withdrawals are free from taxes as long as you use the funds to pay for qualified educational purposes.

Best of all, you can use ESA funds to pay for expenses from elementary school to college.

• Minimum deposit of $5
• Designated beneficiary must be under age 18 at the time of account creation or be a special needs beneficiary
• Earn higher dividends than with other savings products
• Your contributions are non-deductible
• Earnings are tax-deferred¹
• Distributions are tax-free when used to pay for educational expenses

ESA Forms

Coverdell ESA Rate

0.15% APY*

Calculate How Much to Save for College

Contact Us Today to Open an Education Savings Account

Open a Coverdell Education Savings Account by scheduling an appointment at an Orlando Credit Union branch location near you.

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¹The IRS states that distributions are tax-free to the extent the amount of the distributions doesn't exceed the beneficiary's qualified education expenses. If a distribution exceeds the beneficiary's qualified education expenses, a portion of the earnings is taxable to the beneficiary. Amounts remaining in the account must be distributed when the designated beneficiary reaches age 30, unless the beneficiary is a special needs beneficiary. Certain transfers to members of the beneficiary's family are permitted.

*APY = Annual Percentage Yield current as of March 18, 2019. Rates subject to change at any time without notice. Fees and penalties can reduce earnings on the account.