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Educational Savings Account

It's never too early to start saving for a child's education. With Avadian's Educational Savings account, you can get a head start on establishing an account that will allow you to save for educational needs. 

A Coverdell Educational Savings account works as a trust or custodial account set up solely to pay for qualifying educational expenses for a designated beneficiary. This benefit applies not only to higher education, but also to qualifiied elementary and secondary education expenses. 

Your earnings grow on a tax-deferred basis and distributions are tax-free when used for qualified educational expenses. Each year, you can contribute up to $2,000 to the account. 

Benefits of an Educational Savings Account

  • Free online and mobile banking
  • Free e-Statement access
  • Free telephone banking
  • Save for education expenses while earnings grow tax-deferred
  • Unused funds can be rolled over to the Coverdell ESA of another family member

 



The credit union is federally insured by the National Credit Union Administration.
Additional insurance of up to $250,000 on your savings accounts is provided by Excess Share Insurance Corporation, a licensed insurance company.

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