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Gate City Bank

Coverdell Education Savings

Start saving today for a better education for your child, grandchild, or other beneficiary. Anyone can open a Coverdell Education Savings Account (CESA) for a designated beneficiary under the age of 18. While there is no tax deduction for contributions to CESA, earnings grow tax free*.

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Features

  • Minimum opening deposit only $100
  • Earn tax-free interest for qualified higher education or qualified elementary and secondary education expenses
  • No tax on distributions for qualified education expenses

More Info

For more information or to open a CESA, visit a Gate City Bank location today.

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*Consult with a tax professional to understand what impact CESA may have on your tax situation.