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Savings & Investing | Coverdell IRA

The Educational IRA, recently renamed the Coverdell Education Savings Account, is a type of tax-advantage savings account created by the Taxpayer Relief Act of 1997. This IRA's sole purpose is to help you pay for your child's education expenses such as: tuition, fees, books, supplies, equipment, and, in some cases, room and board and computers. These options were improved by the Economic Growth and Tax Relief Reconciliation Act of 2001. Although contributions to an Education IRA are not tax-deductible, your withdrawals, including earnings, are tax-free if used for tuition, books, and other qualified higher-education expenses.

Click here to use our Retirement calculator to see how much you need to save for retirement.

Apply for a Coverdell IRA

Give us a call at 281-479-6651 or 1-800-477-5328, contact us online, or stop by our branch location to apply for your Educational IRA Account today.

Contact us online. It's quick and easy!
Click here to contact us using our online form.

	Call us. We love to chat. 1-800-477-LECU \| 281-479-6651		Stop by a branch and visit. Click here for directions and hours.

	Fax us. 281-479-3087

	Third Party Link Disclaimer - Lubrizol Employees Credit Union (LECU) does not endorse or guarantee 3rd party links. The products and services offered on 3rd party sites are not products of LECU. LECU cannot attest to the accuracy of information provided by the linked sites. Linking to a web site does not constitute endorsement by LECU, or any of its employees, of the sponsors of the site or the products presented on the site. Other websites which you may link to from the Credit Union's site are not bound by the LECU Website Privacy Policy. The calculators provide estimates only. Click here to read our privacy policy. Your savings are federally insured to at least $250,000 by the National Credit Union Administration (NCUA), a U.S. Government Agency.
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