Tax-free savings for education expenses
This Coverdell Education Savings account with NGFCU allows you to earn dividends with no federal taxes when savings are used for educational expenses. It’s a great way to save for a student beneficiary’s tuition, tutoring, books, supplies, room and board, computers, and other essentials.
Start saving with as little as $5
Here are just a few of the benefits for Coverdell Education Savings account holders:
- Save for the beneficiary’s primary or vocational school through higher education
- Make after-tax contributions through the beneficiary’s 18th birthday
- Open an Accumulation Account with as little as $5
- More than one person can open an account for the same beneficiary (total annual contributions not to exceed $2,000)
- Tax-free withdrawals when not exceeding beneficiary’s annual education expenses
- Funds available until 30 days after beneficiary’s 30th birthday
E-mail memberservices@ngfcu.us or call us at 800.633.2848 to open an account. Or stop by your NGFCU branch.
