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REGISTER | NEW USERS

Current Rate up to 1.50% APY*

Worried about the high cost of education in the future? A Coverdell Education Savings Account is a great way to start saving for your child’s educational future.

  • Peace of mind knowing that your funds are protected from the market swings that affect other accounts
  • No need to worry if you switch jobs you can make contributions to your Coverdell Savings from your new job

Convenient payroll deduction into your account means you won’t miss the money and you’ll be surprised when you see how much you have saved!

Education Savings Account Features:

The Taxpayer Relief Act of 1997 created a new kind of savings plan to help you provide funds for the higher education costs of a child. Formerly known as an Education IRA, the name was changed to Coverdell Education Savings Account when improvements to the plan were made by the Economic Growth and Tax Relief Reconciliation Act of 2001. The Coverdell ESA is funded by after-tax contributions and allows for tax-free withdrawals.

  • Two dividend tiers designed to maximize savings:

                          Account Balance             Nominal Dividend Rate              APY
                          $0.01 – $49,999.99            1.24% APR                                  1.25% APY
                          $50,000 and over              1.49% APR                                  1.50% APY

  • ESA contributions can be made by payroll deduction, share transfer, or check.
  • Members up to age 18 are eligible to have contributions made on their behalf. This age limit does not apply to special needs beneficiaries. This is a person who requires additional time to complete his/her education because of a physical, mental or emotional condition (including a learning disability).
  • Single filer members with MAGI up to $95,000 may contribute up to $2,000 per child. Contributions of less than the full amount can be made if MAGI is between $95,000 and $110,000.
  • Joint filer members with MAGI up to $190,000 may contribute up to $2,000 per child. Contributions of less than the full amount can be made if MAGI is between $190,000 and $220,000.
  • Married filing separate with MAGI of $95,000 may contribute $2,000 per child. Contributions of less than the full amount can be made if MAGI is between $95,000 and $110,000.
  • Total contributions per Coverdell ESA cannot exceed $2,000 per year.
  • Contributions are not tax deductible.
  • Withdrawals are tax-free provided they are used for qualified education expenses and can be withdrawn at any time prior to the beneficiary reaching age 30. A portion of the withdrawal may be subject to income tax and a 10% penalty if not used for the intended purpose.
  • Funds may stay in Coverdell ESA until the beneficiary reaches age 30.
  • Money left in one child’s Coverdell ESA may be rolled over, tax-free to another child’s Coverdell ESA as long as the new beneficiary is member of the original beneficiary’s family and under age 30.
  • Contributions to traditional or Roth IRAs have no effect on the contribution you can make to each Coverdell ESA.
  • NCUA insured up to $250,000 collectively for all savings products excluding IRAs.

The Coverdell ESA contribution deadline is the same as the Roth and Traditional IRAs; April 15th or the tax deadline for the year of the contribution.

Ready to Get Started? Need Help? Have Questions?

 

Call our IRA Specialist, Jolynn Stuebner at 800.288.6423, ext. 4053 or contact her via email at  jstuebner@UECU.org

Open Account Forms and Disclosures

*APY=Annual Percentage Yield.

share savings
health savings account
special savings account
money market savings account
certificate of deposit
I R A

0.70% APY* UECU Share Savings Account

UECU’s Share Savings Account is the foundation for membership and a great savings tool! Open one today and begin enjoying the advantages of membership!

  • Saving money has never been easier with a low minimum balance of $5.00. Earn a high yield dividend.
  • Convenient access to your money anytime day or night through Advantages Online

Convenient payroll deduction into your account means you won’t miss the money and you’ll be surprised when you see how much you have saved!

 

Not a UECU Member Yet? Join Today!
To Get Started, Call 
800.288.6423 or Join Online.
Join Today  Learn More

 

 Forms and Disclosures

*APY=Annual Percentage Yield.

 

Quick Cash Card

0.70% APY** Health Savings Account

With the rising cost of health care and many companies offering high deductible health care plans, UECU’s HSA helps you defray the cost of health care expenses. Our HSA earns a great high-yield dividend while helping you manage your health care.

  • Make medical purchases with the free HSA Visa Debit Card everywhere Visa is accepted - and earn VantagePoints™ rewards on your signature-based, point of sale card purchases
  • With UECU’s HSA you don’t have to worry about moving the account if you switch jobs

Contributions are tax-deductible, earnings are tax-deferred, and qualified distributions are tax-free and penalty-free

 

Have Questions? Need Help Getting Started? Call 800.288.6423.
To open an HSA, complete the application and return it to UECU. 
HSA Application Learn More

Forms and Disclosures

**APY=Annual Percentage Yield.

 

health savings account card

0.70% APY* UECU Special Goal Savings Account

Our Special Savings Accounts are the perfect solution for budgeting your finances. Tailor your account titles to help you realize your savings goals.

  • Easy and convenient way of setting aside funds for taxes, car insurance, etc.
  • No minimum balance helps you avoid fees and earn a great rate on your funds no matter how much you deposit
  • Convenient access to your funds anytime, anywhere day or night through Advantages Online
  • Convenience of payroll deduction, you won’t miss the money going into your account and you’ll be surprised when you see how much you have saved

 

Ready to Get Started?
Call 800.288.6423 or Open Your Account with Advantages Online™.
Open Account Learn More

Forms and Disclosures

*APY=Annual Percentage Yield. 

Quick Cash Card

Earn Up To 1.60% APY*

This higher dividend-earning account is an ideal alternative to certificates, allowing you to earn a great rate of return plus your money is available to you at any time.

  • Convenient access to your funds anytime, anywhere day or night through Advantages Online
  • Use your Quick Cash Card at any ATM you want and we won’t charge you, in fact we will rebate up to $8.00 a month when the others do!
  • Convenience of payroll deduction, you won’t miss the money going into your account and you’ll be surprised when you see how much you have saved

 

Ready to Get Started?
Call 800.288.6423 or Open Your Account with Advantages Online™.
Open Account Learn More

Forms and Disclosures

*APY=Annual Percentage Yield.

 

Quick Cash Card
  • Competitive Rate – 2.60% APY* on regular and IRA CDs
  • Guaranteed Return – Rate is locked in for 20 months
  • Flexibility - Invest as little as $500
  • NCUA Insurance – Funds are insured
  • Interest Payments – Can be reinvested in the CD or deposited in your UECU deposit (savings) account
  • Savings Calculator - Calculate your savings below
 
Ready to Get Started? Call 800.288.6423. 
Learn More

Forms and Disclosures

*Dividend rate and Annual Percentage Yield (APY) are stated as of 1/1/2019. $500 minimum deposit required to open account. You may not make additional deposits after the account is opened. APY assumes principal and dividends remain on deposit until maturity. A penalty is imposed for partial or full withdrawals prior to maturity. Fees could reduce earnings on the account. Certificate renews automatically. 20 month certificate renews automatically for 18 months. APY is subject to change and may be withdrawn without notice.

 

Dream big and save big with an IRA (Individual Retirement Account) from UECU. Our IRAs offer above average dividend yields to help you make the most of your heard-earned money!
  • Enjoy peace of mind knowing your funds are protected from market swings that affect other accounts
  • Don’t worry if you switch jobs – you can make contributions to your IRA from your new job
  • Set up payroll deduction to make saving easy
  • Choose from a variety of savings options – check out our IRA E-brochures for details and benefits. Click on Learn More below.
Ready to Get Started? Need Help? Have Questions?
Call our IRA Specialist, Jolynn Stuebner at 800.288.6423, ext. 4053 or contact her via email at  jstuebner@UECU.org
Learn More

Forms and Disclosures

 

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All products and services available on this website are available at Utilities Employees Credit Union at 11 Meridian Boulevard in Wyomissing, Pennsylvania.


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