Check Out Our Coverdell Educational Savings Account

It's never too early to start saving for your child's education. A Coverdell Educational Savings Account (ESA) is a smart way to save for your child's (or grandchild's) education. When used to pay for qualified educational expenses, ESAs provide tax-free growth and withdrawals. Even better, ESAs aren't just for college--they can also be used to save and pay for elementary and high school tuition expenses.

Features

All contributions to ESAs are tax-free
Unlimited number of separate accounts can be opened for the same beneficiary
Accounts can help any beneficiary under the age of 18 or with special needs
Can be used to pay for elementary, secondary, and post-secondary education

How to Get Started

Contact an ISB banker today for details!

Account Requirements and Charges

Minimum balance of $100 required to open any ISB deposit account.
Account contributions allowed until beneficiary turns 18 (unless beneficiary has special needs)
Funds must be used before beneficiary's 30th birthday (unless beneficiary has special needs)
Must maintain a minimum of $1 each day to obtain APY*. $1 monthly service charge - This service charge is waived if:
- Average balance of $100 or greater
  --OR--
- Primary account holder is under age 18

Fees may reduce earnings. Fees may reduce earnings. Service charges are subject to both state and local sales tax. This information is not a Truth in Savings disclosure. Ask a bank representative for Truth in Savings disclosures, account details, restrictions, processing limitations and enrollment instructions. *APY = Annual Percentage Yield; APY accurate as of 9/1/2019 and is subject to change