Open an account at any Branch.
The Educational Savings Account is a high-yield savings account to help save for higher education costs. It must be open for a minimum of three years and pays out on your child’s college entrance date or 18th birthday, whichever comes first. With no minimum opening deposit required, it’s a great way to save!
Any withdrawal from the Educational Savings Account prior to set requirements will close the account and result in a penalty (some exceptions may apply).
To open an Educational Savings Account, please visit your local branch.
Federally insured by NCUA. APY = Annual Percentage Yield. Rates current as of 1/13/2021. Fees could reduce the earnings on the account. Available to qualifying Members. Some restrictions may apply. Ask for details.
You've heard the figures - college education is expensive. All those benefits of personal growth, expanded horizons, and increased lifetime earning power comes at a price increasing every year.
As the cost of a college education continues to climb, many grandparents are stepping in to help. This expected trend accelerates as baby boomers, many of whom went to college, become grandparents, and start gifting predictions of trillions of dollars over the coming decades. Grandparents can open an Educational Savings Account for grandchildren at birth and make regular deposits to assist in higher education costs.
It's hard to talk about college without mentioning financial aid. In many cases, financial aid may be the deciding factor in whether or not a child attends the college of his or her choice, or even attends college at all. That is why it is important to develop a basic understanding of financial aid before a child applies to college. Without such knowledge, you may have trouble understanding aid determination, filling out the proper aid applications, and comparing the financial aid awards a child receives.