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The Coverdell Education Savings Account is a great way to start building college education savings for your children or grandchildren under the age of 18.
You can contribute up to $2,000 per tax year per child until the child turns 18 (some exceptions apply). Contributions are not tax-deductible, but earnings accumulate tax-free.
Funds used for higher education expenses are tax-free when withdrawn if the recipient is under 30.
Term Certificate Rates¹ as of May 1, 2024.
Account Type & Term |
Rate Type |
Minimum Opening Balance |
Minimum Earning Balance |
Stated Dividend Rate |
Annual Percentage Yield |
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*Annual Percentage Yield (APY) is accurate as of 05/01/2024. APY assumes interest remains on deposit until maturity, any withdrawal will reduce earnings. The 11-Month Certificate (Share Only) requires a $500 minimum deposit. Certificates must be partially funded by new money (50% or more). Excludes IRA and ESA certificates. An Early Withdrawal Penalty will apply for withdrawal before the maturity date. Certificate accounts are subject to membership eligibility, terms, and fees. Certificate account will automatically renew at maturity to the 12-month certificate fixed rate in effect at that time unless you withdraw all the funds in the account at maturity or within a grace period of 6 days after maturity. Santa Clara County Federal Credit Union reserves the right to cancel or modify this offer at any time without prior notice. This is a limited time offer. 1The dividend rate and annual percentage yield stated for the term accounts listed are offered within the most recent seven calendar days and were accurate as of the above date. An Early Withdrawal Penalty will apply for withdrawal before the maturity date. Certificate Accounts are subject to approval, terms, and fees. Your savings federally insured to at least $250,000 by the National Credit Union Share Insurance Fund, administered by the NCUA and backed by the full faith and credit of the United States Government. National Credit Union Administration, a U.S. Government Agency. |
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Account Type & Term 12 Month Roth Term IRA Certificate |
Rate Type Fixed |
Minimum Opening Balance $500 |
Minimum Earning Balance $500 |
Stated Dividend Rate 4.50% |
Annual Percentage Yield 4.58% |
Account Type & Term 12 Month Coverdell (ESA) IRA Certificate |
Rate Type Fixed |
Minimum Opening Balance $500 |
Minimum Earning Balance $500 |
Stated Dividend Rate 4.50% |
Annual Percentage Yield 4.58% |
Understanding how to manage your money shouldn’t be complicated. Here’s a variety of topics designed to build your knowledge so you can make the best financial decisions possible.
*You must be 16 years or older to open a checking account with Mirastar.