Planning for College

Increasing costs bring a whole new meaning to the term “higher education”. Learn how you can prepare yourself and your child for this important life step.

Havasu Community Credit Union offers tax advantageous ways to save for your child’s education with Coverdell ESAs!

"What is a Coverdell ESA?"

A Coverdell Education Savings Account (ESA) is an account created as an incentive to help parents and students save for education expenses. It functions similarly to an IRA but is targeted to education expenses, not to retirement. Parents can make annual non-deductible contributions that will grow tax-free of federal income taxes. Distributions are also tax-free as long as they are used for qualified education expenses such as: tuition and fees, required books, supplies and equipment, and qualified expenses for room and board. A beneficiary of this account must be under age 18 or is a special needs beneficiary. Click here for more information regarding tax benefits.

Click here for our current Coverdell ESA rates. Come into any of our branch locations to start saving for your child’s future today!

More Resources:

  • Student Aid on the Web, the U.S. Department of Education's site for free information on preparing for and funding education beyond high school.
  • College Board – Find information on taking and registering for the PSATs and SATs.
  • ACT – Find information on taking and registering for the ACT.

Important information about procedures for opening a new account

To help the government fight the funding of terrorism and money laundering activities, Federal law requires all financial institutions to obtain, verify, and record information that identifies each person who opens and account.

What this means to you: When you open an account, we will ask you for your name, address, date of birth, and other information that will allow us to identify you. We may also ask to see your driver's license and other identifying documentation.



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Disclaimer: Havasu Community Credit Union (a division of L.A. Financial Federal Credit Union) is not responsible for the privacy practices or the content of web sites which we may provide a link to. While all efforts are made to maintain the accuracy of information presented on the Havasu Community Credit Union (a division of L.A. Financial Federal Credit Union) web site, we cannot guarantee that all information is current. Please contact the Credit Union call center directly for the most current information at 626.792.7441 or Toll-Free 800.894.1200.