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Open An Account

Education Savings

Save for your child’s future today

You can ensure your child is able to receive the education he or she wants by beginning to save today. With an Education Savings Account (ESA) at MECU, you can enjoy the benefits of tax-advantaged savings for all education-related expenses. Tuition, fees, books, supplies, equipment and, in some cases, room and board and computers can be paid for with this college saving plan. You can contribute up to $2,000 per child per year to an ESA. Contributions are not tax-deductible, but withdrawals and earnings may be tax-free!

Account Type Interest Rate Annual Percentage Yield (APY) Minimum Initial Deposit
Education Savings Account * 2.09% 2.11% $25
 

*Early withdrawal penalties may reduce the earnings on the account. The rate may change after the account is opened. Minimum balance in order to earn interest.

 
Smart Saving:

You can open an Education Savings Account at MECU today to ensure your child has room to grow.

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