Looking closer at the CESA IRA

What is a Coverdell Education Savings Account (CESA) you may ask? It's a powerful savings tool that can be used for elementary, high school or college expenses.

This nondeductible account features tax free withdrawals that can be used for a child's education expenses.

To be eligible, your modified adjusted gross income cannot exceed certain limits (contact your branch office to see if you're eligible).
 

This savings vehicle features the following benefits:

• Nondeductible contributions (up to $2,000 per year)

• Penalty free, tax free withdrawals (Roth IRA is only penalty free)

• No minimum to open

• Use for tuition, clothes, books, computer, room and board, etc...