Education Savings (Coverdell ESA)

Straightforward saving for the turns ahead.

College savings accounts offer tax benefits and investment options

Here's how a Coverdell Education Savings Account could help you bank better:

  • You can start with a small sum and build up your balance with regular deposits
  • Contribute up to $2,000 a year
  • Your savings grow tax-deferred and are not taxed when withdrawn for qualified education expenses1
  • Coverdell funds can be withdrawn for a broad range of qualified K-12 expenses such as tuition, books, uniforms, supplies, tutoring and special needs services
  • To avoid tax penalties, the funds must be withdrawn by the time the student reaches age 30 (or transferred to another beneficiary)

COMPARE OUR IRA PRODUCTS

High Yield IRA Savings

  • Useful if you don’t like being locked into a term deposit
  • Earn an impressive 3.00% APY2on your Retirement savings
  • To open your High Yield IRA Savings account, fill out the form below and Coastal will reach out to you shortly.
IRA Certificates up to 3.00%APY

IRA Certificates

  • If you want a guaranteed return and don’t mind a little commitment, get Certificates up to 4.50% APY2
  • Choose one or more of our high rate certificates with terms ranging from 7 days to 5 years
  • To open your IRA Certificate account, fill out the form below and Coastal will reach out to you shortly.
An example of the Interest module

Want to learn more about additional investment options?

How can we help

Please fill out the form below and Coastal will reach out to you shortly. We would like to learn more about your interest in our IRAs

 
Are you a Coastal Member?*

Please select the account you would like to open, or assistance is needed?*

Select the type of IRA you are interested in:*





Frequently Asked Questions

Frequently, we see that direct deposits may not credit your account due to an invalid account number. Be sure to verify with the issuer of the deposit that they are sending funds with your full 14 digit account number. You may also provide the issuer of the deposit a voided check.

You may also want to validate the ABA Routing Number, 253175494.
Transferring funds is easy and free! Simply log into Digital Banking and select Transfer Funds. Follow the displayed prompts. Transfers may take up to 3-5 business days to credit.

You may also transfer funds from your Coastal account to another financial institution via a wire transfer. To initiate a wire transfer, please contact our Call Center at (800)868-4262, ext 6784 or 919-420-8000, ext 6784 or visit the nearest branch location.
The easiest way to start or change your direct deposit is to contact your employer's HR or Payroll Department or log into your Employer's Payroll Site. They will have you fill out a direct deposit authorization form. To complete this form, you will need to know Coastal's Routing Number, your full 14 digit Account Number, and the account type, such as Go Green Checking.
If wiring U.S. Dollars, please provide the issuing institution the following instructions:

Bank Name: Coastal Credit Union ABA/Routing Number: 253175494 Credit Name: (Your name and address) Account Number: (Your 14-digit Coastal account number)
Eligible members can deposit funds by using Digital Banking through Coastal's Mobile App. You may also visit any Coastal branch location or Shared Branch/Service Center location (our locations page). Deposits are not accepted at non-Coastal ATMs on the Co-op ATM Network.

1. Please consult a tax advisor for contribution eligibility

2. APY - Annual Percentage Yield. High Yield IRA Savings requires $25 minimum to open. For more details, see the Truth-In-Savings Disclosure and Rate Table. Fees may reduce earnings on account. Rates subject to change without notice after account opening. Penalty for early withdrawal. APY is accurate as of the last dividend declaration date.

3. Certificate requires $250 minimum to open and will automatically renew at the end of the term. 1.00% APY is based off of a 60 month certificate. Fees may reduce earnings on account. Rates subject to change without notice. Penalty for early withdrawal. APY is accurate as of 03/19/2019.

4. Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA/SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. Coastal Credit Union has contracted with CFS to make non-deposit investment products and services available to credit union members.

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