Beneficiary must be an eligible credit union member.

Responsible individual must be the mother, father or legal guardian of the designated beneficiary.

Contributions may not be made on or after the beneficiary’s 18th birthday.

There is no annual maintenance fee. There is however, a $50.00 fee if an IRA Money Market Savings Account is closed within 90 days of opening. This fee does not apply when a member is withdrawing the money to move it to a certificate or other IRA investment within the credit union.

If you close your Education IRA account during the month, no dividends will be paid for that month.

Education IRA funds may not be used as security on a loan.

You have the choice of a regular savings account, Education IRA or a certificate Education IRA investment. You’ll earn the highest market rates available with any of these accounts.

Saving is easy when you use payroll deduction, direct deposit, or automatic transfers. You can also mail your deposits.

You may deposit up to $2,000.00 annually per child each year. Contributions may be made by anyone in any amounts up to this maximum at any time before April 15 th (or the tax return deadline) for the previous year.

If the beneficiary chooses not to go to college, you may transfer the funds tax-free from one beneficiary's Education IRA to an Education IRA of another family member under the age of 30.

You’ll pay no annual maintenance fee on this investment and quarterly statements will allow you to monitor your earnings.