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Deposit Rates
Money Market
/ APY
Checking
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Z-Share
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Quoted Rates, dividends, annual percentage yields (APY) and rates (APR) are subject to change daily at the discretion of the Board of Directors.

Coverdell Education Savings Account (CESA)

State Employees' Credit Union offers the Coverdell Education Savings Account (CESA), which is a tax-advantaged deposit account designed to help save for future educational expenses.

Features

  • Must be established in the name of a designated beneficiary who is an SECU member under the age of 18 or with special needs
  • Can be established by parents, grandparents, or other interested individuals
  • Parent or legal guardian must be named as responsible individual
  • Contributions, up to $2,000 per year, are made with after-tax dollars
  • Earnings grow tax-deferred
  • Tax-free withdrawals to pay for qualified elementary, secondary and higher education expenses
  • $25 minimum opening deposit
  • Current interest rate is 2.25% / 2.28% APY1
You may apply for a Coverdell Education Savings account online via Member Access.


1Quoted rates and annual percentage yields (APY) are subject to change daily.