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.

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BENEFITS	CONDITIONS
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Contributions are allowed regardless of Traditional or Roth IRA participation	The money must be withdrawn by the time the beneficiary turns 30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