Official Credit Union of UMass Athletics

Official Credit Union of UMass Athletics

Education Account (Coverdell ESA)

This account is exclusively used for savings for higher education expenses.

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 (Coverdell ESA) Rates

Product Minimum Balance Dividend Rate Annual Percentage Yield
IRA Share Account Balances over $100 0.10% 0.10%
90 Day Fixed Balances over $500 0.30% 0.30%
6 Month Fixed Balances over $500 0.55% 0.55%
9 Month Fixed Balances over $500 0.60% 0.60%
12 Month Fixed Balances over $500 0.75% 0.75%
15 Month Fixed Balances over $500 1.30% 1.31%
18 Month Fixed Balances over $500 1.40% 1.41%
22 Month Fixed Balances over $500 0.95% 0.95%
24 Month Fixed Balances over $500 1.00% 1.00%
29 Month Fixed Balances over $500 1.15% 1.16%
36 Month Fixed Balances over $500 1.35% 1.36%
48 Month Fixed Balances over $500 1.60% 1.61%
60 Month Fixed Balances over $500 1.85% 1.87%

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Rates subject to change at any time. Dividend Rates Effective as of November 2, 2017.

For questions or assistance, contact a friendly UMassFive representative today!