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Education Savings Accounts (ESAs)

No setup, administration or annual maintenance fees are charged on Star One IRA and ESA Accounts.

Coverdell Education Savings Accounts (ESAs) are an ideal way to begin saving money to help a child, grandchild or any young person pay for education expenses.

ESA contributions are not tax-deductible, but they may earn interest tax-deferred until distributed.

ESA Features

  • Qualified expenses for K-12 school costs
    This includes home computer equipment, Internet access and tutoring.
  • Waiver of age limitations for children with special needs
    The law allows contributions for individuals with special needs beyond age 18 and no mandatory pay-out at age 30.

ESA Investment Options

  • Savings Account - $100 minimum deposit or $25 with automated deposits
  • Certificate Accounts - $100 minimum deposit or $25 with automated deposits, 6-month, 1-year and 2-year terms

ESA Summary

ESA Dividend APYs

IRA / ESA Savings

0.50

%

APY (0.50% rate)



6-Month IRA / ESA

0.50

%

APY (0.50% rate)



1-Year IRA / ESA

0.55

%

APY (0.55% rate)



2-Year IRA / ESA

0.60

%

APY (0.60% rate)

 

Open an ESA

 

Service your ESA

 

ESA Information and Help



Scam and Fraud Alert

Several Star One members reported receiving a phone call or text from a person claiming to be from Star One's fraud department with a caller ID reflecting 866-543-5202.

The caller is impersonating a Star One employee to gain your trust with the goal of getting access to your account.

The caller may try to reassure you that it's OK to share your information—please hang up, it's not OK, EVER!