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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 Summary

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

** Annual Percentage Yield

ESA Dividend APYs

IRA / ESA Savings



APY** (1.00% rate)

6-Month IRA / ESA



APY** (1.29% rate)

1-Year IRA / ESA



APY** (1.69% rate)

2-Year IRA / ESA



APY** (1.98% rate)


Open an ESA


Service your ESA

ESA Information and Help