Coverdell Education Savings Accounts

Valley Communities Credit Union offers a convenient way to help save for educational expenses. Get a head start on saving for tuition, fees, books and supplies with a Coverdell Education Savings Account (ESA).

  • A Coverdell ESA can be set up as a VCCU passbook account or VCCU share certificate account.
  • Contributions to a Coverdell ESA are not deductible, but amounts deposited in the account grow tax free until distributed.
  • Distributions are tax-free as long as they are used for qualified education expenses, such as tuition and fees, required books, supplies and equipment and qualified expenses for room and board.

Certain restrictions do apply so ask one of our member service representatives for more information.