<img height="1" width="1" style="display:none" src="https://www.facebook.com/tr?id=847793522993362&amp;ev=PageView&amp;noscript=1">

College savings plans for their future.

With education costs rising, it's important to start saving today. Open a CCCU Coverdell Education Savings Account and take advantage of a fixed rate of return and tax-free withdrawals. Plus, earnings are compounded monthly and grow tax-free.1
Get Started

Coverdell Education Savings Account

A Coverdell Education Savings Account (CESA) is a great way to save for primary, secondary, or higher education expenses. With as little as $1,000, you can begin investing in their education. 

When the contributions are distributed, they are tax-free assuming they are less than the account holder's annual adjusted qualified education expenses, including:

  • Tuition
  • Books, supplies, and equipment required for enrollment
  • Room and board
  • Academic services like tutoring
  • Computer and related equipment if used for school
  • School uniforms

For more info and financial advice, contact our Consolidated Wealth Management team. Call 503.925.5511 or schedule a complimentary consultation.

Open a Coverdell Education Savings Account:

College Savings Account Benefits

Education should never be unattainable. A CESA with CCCU helps members and their families put as much money towards their futures as possible.

 
 
A young student boy who is excited about the future and has college savings account with CCCU credit union in Portland Oregon.

Accessible

Even if you cannot make contributions to the account, anyone who qualifies can contribute to your CESA!

Flexible

The beneficiary can make withdrawals for qualified education expenses until they are 30-years-old!

Tax-Free

Contributions are made with after-tax dollars and any growth is not taxed when you withdraw your funds.

Transferable

If the intended child doesn't use their CESA, you can transfer to another eligible family member!
Get Started

Wondering how to pay for college?

Between grants, loans, and scholarships, there are many ways to pay for college, but starting a college savings account is the best way to start planning for a child's future. And it's never too early to start saving!

A Coverdell Education Savings Account is beneficial because any investment growth is not taxed upon withdrawal, and approved education expenses include more than just tuition.

Another great feature of a CESA is that anyone can make contributions to your college savings account on behalf of a beneficiary under the age of 18, up to an annual maximum of $2,000 for single and joint filers.

Be sure to let friends and family know that you have the account set up so they can contribute to your child's education!

Get Started
A young woman college student who was able to go to college debt free thanks to her College Savings Account at Consolidated Community Credit Union CCCU in Portland Oregon.
CCCU Budgeting eBook

Start building your perfect budget today!

Our Budgeting Tips and Tricks: Quick Solutions to Start Saving Today guide provides everything you need to build your perfect budget and start saving money today.

Ready to get started? Download your guide now:

What our members are saying:

“This credit union was amazing. The lady I worked with was very helpful and made me feel comfortable. She took out her time to listen and answered all my questions!”

Hady G.

“JUST the best. I switched over to CCCU from another CU I shall not name here. The difference between the old one and CCCU is night and day. Everyone at CCCU is genuine, skilled, friendly, and really easy to talk to. I love my credit union!”

Corey C.

“I've belonged to other larger credit unions before this one and - although the atmosphere in them was certainly better than a typical bank - I found the loan services in the other credit unions to be exactly like a normal bank, relying in the end on standard algorithms. This group was the only credit union (or bank) that I encountered where a single person worked with me from start to finish (no separation between sales and loan officer), and the only credit union that really took a careful individual look at assets, history, etc.   So...I highly recommend them for both everyday banking and loans.”

John C.

New in Our Blog

Enjoy browsing our collection of recent blog articles designed to help you learn and save more money for college!

7 Signs You Need a Budget
Budgeting

7 Signs You Need a Budget

Read More
5 Expenses Throwing Off Your Budget
Budgeting

5 Expenses Throwing Off Your Budget

Read More
5 Reasons to Use a Digital Wallet
Personal Finance

5 Reasons to Use a Digital Wallet

Read More
Explore Articles

Frequently Asked Questions

How much can I save in a CESA?

The contributor's Modified Adjusted Gross Income (MAGI) is limited as follows:

  • MARRIED, JOINT:
    • Partial Contributions for MAGI of $190,000 or less
    • Full Contributions for MAGI of $190,000 or $220,000
    • No Contributions for MAGI of $220,000 or more
  • OTHER:
    • Partial Contributions for MAGI of $95,000 or less
    • Full Contributions for MAGI of $95,000 or $110,000
    • No Contributions for MAGI of $110,000 or more
Who owns the CESA account?

The account is owned and controlled by the parent opening account, with the child as the beneficiary for the funds to be used for educational expenses.

What if my child does not use their CESA?

If you do not use your CESA, or your child decides to not attend college, you can transfer the account to another eligible family member. If the original account holder decides to go to college later, they can withdraw money from the account for qualified education expenses until they are 30 years old.


DISCLOSURES
Membership eligibility is required. All new accounts are subject to CCCU standard account membership terms and disclosures. IRA transactions are subject to IRS rules and regulations.
1 Please consult your tax advisor for specific information on how certain laws apply to your situation and about your individual financial situation.

Don't Miss Out!

Sign up to get new info, promos and event alerts:

© Consolidated Community Credit Union | Routing #: 323075136

Privacy Policy | Schedule of Fees & Rates | Disclosures 

CCCU is committed to serving all persons within its field of membership, including those with disabilities. We strive to make not only our physical branches accessible but also to conform to WCAG 2.0 guidelines for website accessibility. Our efforts are ongoing including frequent testing and updates to improve accessibility. Should you have any problems accessing our branches or website, please contact us so that we may promptly assist you and remedy any accessibility concerns.

Consolidated Community Credit Union is an assumed business name of Consolidated Federal Credit Union. Consolidated Community Credit Union, CCCU, and Consolidated Federal Credit Union are service marks or registered service marks of Consolidated Federal Credit Union. All other marks not owned by Consolidated Federal Credit Union that appear herein are the property of their respective owners, who may or may not be affiliated with, connected to, or sponsored by Consolidated Federal Credit Union. Consolidated Community Credit Union, CCCU-Cascade, and CCCU are trade names of Consolidated Federal Credit Union. Although these branches have different names, they are all part of the same credit union and shares held at each office are not separately insured.