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Education Savings Account (ESA)

The future comes fast

Start saving for your child's education with a Coverdell Education Savings Account (ESA).1


Flexible contributions

Easily change the amount and frequency of contributions.


Tax benefits

Earnings may be tax-deferred and your child may not have to pay federal taxes on withdrawals.1


No fees

There's no fee to open an ESA.2


Transfer funds

Unused funds can be transferred to another account or child.


Friendly service

Visit us at a branch, by phone, or online for friendly member service.


Expert support

Our experts know their stuff! When you need guidance, count on us.

Today's rates

View more rates
As high as % APY3

Calculate your monthly savings4

Final Balance

Contributions:     |    Earnings: 
Flexible Contributions

Choose how you save

Household budgets are always changing. No worries! You're free to modify the amount or frequency of your contributions at any time.

Young couple holding their newborn
Transfer Funds

Share the wealth

If your child doesn't use all the funds in their ESA, you can easily transfer them to another account or child in the family.1

Mom teaching daughter at home

Members tell us they feel like they're treated like family and appreciate their interactions with employees.

— 2022 Avtex Findings Report

How it works

It's easy to get a Coverdell ESA.

  • 1

    Open an account

    Open an ESA at a branch or through video banking.

  • 2

    Make an initial deposit

    Deposit some money into the ESA to get started.

  • 3

    Make contributions

    Make regular contributions and watch the savings grow.

Schedule an appointment

Have questions? We're here to help!


Schedule an appointment


Schedule now


Meet virtually


Video Banking


Give us a call


Call 1-800-296-8871

Invest in your child’s future


Paying for your child’s education doesn’t have to break the bank. Save over time with a Coverdell Education Savings Account (ESA).


Schedule an appointment


Members Cooperative Credit Union does not provide legal, tax, or other advice. Please consult with your own professional services provider for more information on these matters. This content is provided for general information purposes only.

1 Coverdell ESA eligibility, contributions, transfers and rollovers, withdrawals, and penalties are subject to applicable laws and regulations.
2 Coverdell ESAs do not have maintenance or transaction fees; other fees may apply.
3 APY is the Annual Percentage Yield. The stated APY is effective as of May 24, 2024. The APY is variable and may change at any time. Fees may reduce earnings.
4 The calculator is provided for informational purposes only and any calculation is solely an estimate based on the information you provide. There is no guaranteed rate or earnings on a Coverdell ESA. Contact Members Cooperative Credit Union at 1-800-296-8871 for more information.

Membership required and subject to account requirements.

Use of online or other electronic services may require specific hardware and software and your agreement to certain terms and conditions. Access is subject to the availability of the internet, cellphone and network coverage and plans, and typical service interruptions stemming from your providers or the credit union’s providers.

Video Banking

Memorial Day Holiday Closure All offices will be closed on Monday, May 27, in observance of Memorial Day. ATMs, mobile services, and online banking are available 24/7! View all our holiday closures.