Coverdell Education Savings Account (CESA)
Looking for a way to save for education expenses that will make the most of your money? What if it even came with some tax advantages?
When you open a Coverdell Education Savings Account (CESA) on behalf of your child or another child you know, interest earned is typically tax-free and withdrawals can be made at any time when used for qualified education expenses like tuition and fees, boarding, or books and supplies. Consult with your tax advisor for details about tax implications that may apply.
There are no age or compensation requirements to open and contribute to a CESA. There is an annual contribution limit of $2,000 per beneficiary.
To get started, please contact us.
Community Banking At Its Best
The Atlantic Federal Credit Union offers many of the same services as a bank, often with better rates and lower costs. As a not-for-profit financial cooperative, our only priority is meeting the needs of our Members. We pride ourselves on delivering personalized service backed by the latest in digital banking technology so you can bank whenever and wherever is most convenient for you. Plus, we exclusively serve Essex and Union counties in New Jersey, which means your hard-earned deposits are kept secure locally and loans are serviced locally.
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