Educational Savings Account - Coverdell Education Savings Accounts (ESA's) began in 1998 as Education IRA's.  An ESA is an education savings plan created exclusively for saving to pay for qualified education expenses of the designated beneficiary.  The contribution and distribution rules for ESA's are different from IRA rules.  Distributions not in excess of amounts spent on qualified education expenses are generally tax-free.

OVCCU offers these types of education savings accounts to its members.  For more detailed information you may contact Angie McKnight @ 800-688-2408 ext 118