Make an annual non-tax deductible contribution to a Coverdell Education Savings Account (ESA) and the earnings grow tax-free.


How it works: Open an account for any beneficiary under the age of 18 for as little as $5.  Contribute up to $2,000 per year, per account.  The earnings on your contributions grow tax-free at a fixed rate of .75% APY.  When it comes time to use the funds, the beneficiary can do so without paying any additional taxes (the beneficiary must use the funds before turning 30).


Who can contribute: The account can be opened by a parent or guardian, and contributions can come from parents, grandparents, relatives, friends or family members. Contributor adjusted gross income must be under the limit set for a given tax year to be eligible – talk to us for details on the current year’s limits.


Other details: Contributions must be made before the beneficiary turns 18. You can also rollover any unused ESA funds, without penalty, to other family members under the age of 30.


*As with any investment that will affect your taxes, and to find out if you are eligible to contribute, consult your tax advisor.

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Give us a call at 901-332-9232   OR   800-833-3544, or apply online:



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Find our branches & ATMs

For the safety of our members, certain branch lobbies are temporarily closed or have limited access.
Currently the Collierville, Hacks Cross, and Pittsburgh Branches are CLOSED.

To schedule an appointment:


Due to closed branches, our call-center is experiencing a high call volume.
To avoid longer than usual wait times, we encourage members to access their accounts remotely by logging in online or by using our mobile app.


Call Center Information:
(800) 228-8513 or (901) 344-2500 within the Memphis areaMon-Fri, 7:30am-10:00pm central
Sat, 9:00am-5:00pm central
Sun, 9:00am-5:00pm central