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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Find our branches & ATMs

For the safety of our members, all branch lobbies are temporarily closed.
The Drive-Thrus are open at Nonconnah and Dexter branches in Memphis.

We encourage our members to access their accounts remotely by logging in online, using our mobile app , or by phone at  (800) 228-8513 or (901) 344-2500 within the Memphis area.

Call Center hours:
Mon-Fri, 7:30am-10:00pm central
Sat, 9:00am-5:00pm central
Sun, 9:00am-5:00pm central