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Coverdell Education Savings Accounts (ESA)

Give Your Child the Gift of Education

A Coverdell Education Savings Account (ESA) may be an easy way to start saving for a child’s education. With an ESA, individuals can make annual nondeductible contributions on behalf of a child. Withdrawals are tax-free when used for qualified education expenses.

See Rates
Personal CD
Term APY* Interest Rate Initial Deposit
6 Month Promo CD 0.200% 0.200% $500
12 Month Promo CD 0.300% 0.299% $500
24 Month Promo CD 0.400% 0.399% $500
60 Month Promo CD 0.700% 0.698% $500
3 Month CD 0.050% 0.050% $500
6 Month CD 0.100% 0.100% $500
18 Month CD 0.200% 0.199% $500
1 Year CD 0.150% 0.149% $500
2 Year CD 0.250% 0.249% $500
3 Year CD 0.300% 0.299% $500
4 Year CD 0.350% 0.349% $500
5 Year CD 0.450% 0.449% $500
A penalty may be imposed for early withdrawal. No institutional deposits. Fees may reduce earnings.
*APY - Annual Percentage Yield
Rates valid for Saturday, April 17, 2021.
The interest rate and annual percentage yield may change at any time, as determined by the credit union board of directors.A penalty may be imposed for early withdrawal. No institutional deposits. Fees may reduce earnings.
*APY - Annual Percentage Yield
Rates valid for Saturday, April 17, 2021.
The interest rate and annual percentage yield may change at any time, as determined by the credit union board of directors.

Coverdell Education Savings Accounts

  • Earnings grow on tax-deferred basis, distributions are tax-free* if qualified.
  • Contributions each year cannot exceed $2,000 per child.
  • View our informative Coverdell ESA brochure.

Account Type Details
Coverdell Education Savings Account No minimum balance to earn interest. $25 minimum to open the account.
Coverdell Education Savings 6-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
Coverdell Education Savings 12-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
Coverdell Education Savings 24-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.
Coverdell Education Savings 60-Month Promo CD $500 initial deposit. 10-day renewal grace period and a 1-time additional deposit in first 60 days.

*Consult your tax advisor

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ABOUT US

Idaho Central is the premier credit union in Idaho and offers full-service locations throughout the Treasure Valley, Magic Valley, Eastern Idaho, and North Idaho. While growth is vital to our success, we remain focused on our mission, “Helping members achieve financial success.”

Routing Number: 324173626   NMLS ID: 433926

Idaho Central Credit Union is federally insured by the National Credit Union Administration.
© 2021 Idaho Central Credit Union. All rights reserved.