Coverdell Education Savings Accounts
Formerly Education IRA
The Coverdell Program
- The Coverdell Account – Formerly called the Education IRA, this program allows you to contribute up to $2,000 a year toward your child's education. Earnings are free of Federal taxes.
Coverdell Account Types
All DCU's IRA programs may be used for Coverdell Education Savings Accounts.
- Certificate IRAs – Lock in our highest account rates.
- Money Market IRA – $1,000 minimum to earn dividends, allows regular deposits.
- Savings IRA – No minimum balance or term requirement.
Related Services and Tools
- Education Financing Ideas – There are several ways to fund higher education. This page explains a few of the options including Government Student Loan programs.
- StreetWise IRA Guide – General information explaining how Individual Retirement Accounts and Coverdell Education Savings Accounts work and what your options are.
- DCU Financial – Provides a variety of non-traditional options for college planning and savings.
- IRA Forms Guide – Due to government regulations, IRA applications can be challenging. This guide helps simplify the process for you. Forms are available online from this page.
- DCU Memorial Scholarship Program – Each January, DCU members who are graduating high school seniors can apply for one of twelve scholarships awarded by DCU each year.
IRA Applications and Disclosures
Download Adobe Acrobat to view .pdf files. Version 6.0 or later required.
- Certificate Application and Disclosure (.pdf format) Use to open IRA Certificates after reviewing the IRA Forms Guide.
- Truth-in-Savings Disclosure (.pdf format, 36 pages) – Covers disclosures related to all DCU savings and checking accounts. DCU's Funds Availability Policies are covered here.
- Schedule of Fees and Service Charges (HTML)
- Funds Availability Policy (HTML) – This covers DCU's policies regarding holds on deposits.
- Electronic Services Disclosure (.pdf format, 11 pages) – This covers disclosures related to DCU electronic services such as Check Cards, ATM Cards, Internet PC Branch, and Easy Touch Telephone Teller system.
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Digital Federal Credit Union
220 Donald Lynch Boulevard PO Box 9130 Marlborough, MA 01752-9130 508.263.6700 • 800.328.8797 |
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