Prepare Your Children for a Life of Financial Success
We understand that saving for a child's education can be a challenge, especially when trying to balance it with your normal day-to-day expenses and long-term goals like retirement. There’s more than one way to set money aside for your child’s education. Different Methods provide different benefits. The choice you make depends upon what works best for you now.
The financial lessons children are taught during their formative years, even on the most basic levels, greatly influence the decisions they make once they start earning and handling their own money. Start your child on the right track by opening a Young Savers Account.
With a Young Savers account, a child can start learning about how a savings account can help them earn money through dividends. They will also have the opportunity to make deposits to their account and withdrawals.
To open an account visit your nearest BRANCH or call 800.550.5328.
The Coverdell Education Savings Account was created to help parents pay for a child's education at any level — from kindergarten through high school and beyond.
The Coverdell Education Savings Accounts (CESA) historically has been restricted to an annual contribution limit of $2,000. You do not get a tax deduction when you put the money into the account, but the tax-free earnings potential is tremendous, and the withdrawals are tax-free, too — as long as they are used for education. Consult a tax advisor for details.
Take a look at the earnings potential: If you contribute the maximum for a newborn child every year until the child is 18, and you earn an average investment rate of 6%, the account will grow to about $70,000.
Since 2012, they have all completed the FBI’s Safe Online Surfing (SOS) Internet Challenge. Available through a free website at https://sos.fbi.gov, this initiative promotes cyber citizenship by teaching students in third through eighth grades how to recognize and respond to online dangers through a series of fun, interactive activities.