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UMassFive has been approved to be a lender of the SBA's Payroll Protection Program (PPP) as a part of the recently passed 2020 CARES Act, and will be eligible to process PPP loans through the SBA's loan delivery system as soon as this system is made available to us. Please email our Commercial Services Division for additional information.

Education Accounts

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Better rates on higher education

Our Coverdell Education accounts can help you save for your family's future education costs, whether that's for two years, four years, or more!

 

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Tax Advantages

Earnings (Dividends) are tax-free if they are used to pay for educational expenses.

Low Initial Deposit

With minimum balances starting at $500, you can begin earning a higher rate sooner.

Education Account Rates

Product Minimum Balance Dividend Rate Annual Percentage Yield
IRA Share Account Over $100 0.05% 0.05%
90 Days Fixed Over $500 0.10% 0.10%
6 Month Fixed Over $500 0.25% 0.25%
9 Month Fixed Over $500 0.30% 0.30%
12 Month Fixed Over $500 0.35% 0.35%
15 Month Fixed Over $500 0.35% 0.35%
18 Month Fixed Over $500 0.40% 0.40%
22 Month Fixed Over $500 0.45% 0.45%
24 Month Fixed Over $500 0.50% 0.50%
29 Month Fixed Over $500 0.55% 0.55%
36 Month Fixed Over $500 0.60% 0.60%
48 Month Fixed Over $500 0.65% 0.65%
60 Month Fixed Over $500 0.70% 0.70%
Rates subject to change at any time. Rates effective as of April 1, 2020.

 

Prepare for College!

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