Education Savings Accounts

Get on the fast track to your dream with an Education Savings Account!

Education is one of the best investments you can make—but it can also become a financial burden. A Coverdell Education Savings Account (ESA) is designed to help lighten the load, from kindergarten to college.

BENEFITSCONDITIONS
Set aside funds for your child's education Designated beneficiary must be under 18 when contributions are made
Dividends grow tax-free* To contribute to a Coverdell ESA, certain income limits apply*
Withdrawals are tax-free and penalty-free when used for qualifying education expenses* Contributions are not tax deductible
The Coverdell ESA may be transferred without penalty to another member of the family $2,000 maximum annual contribution per child
Contributions are allowed regardless of Traditional or Roth IRA participation The money must be withdrawn by the time the beneficiary turns 30

*Consult a tax advisor.

Del-One Scholarship Program

Calling all Delaware High School Seniors!

Think you could use some extra help with college costs? Each year, Del-One Federal Credit Union will award two $2,500 scholarships to students that meet the eligibility requirements. We will award scholarships to students who meet the following conditions:

  • Del-One member, son or daughter of a Del-One member, or grandchild of a Del-One member
  • Student must begin an accredited college program no later than fall of current year
  • Must be a student in good standing
  • Must demonstrate community involvement
  • Must submit a one to two page essay explaining how this scholarship will assist in reaching educational goals
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