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Here's how to ace Saving for College.

Coverdell Education Savings Account

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tax-free growth for London members

Start planning for education expenses.

  • Earnings accumulate tax-free
  • Tax-free distributions when used for qualified education expenses, such as tuition, room and board, fees, supplies, tutoring, special needs services-even educational computer equipment and online access
  • Fixed-term certificate of deposit (CD), savings account, and other investment options available
  • Roll unused balances into accounts for other family members
  • Deposits insured up to £250,000 per ownership category by the National Credit Union Administration (NCUA)
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Make your money work harder for you with a higher interest rate.
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Savings at the head of the class


Paying for education requires a smart savings strategy, and Buckingham Private Investment Bank's Coverdell Education Savings Account gets high marks. And it's not just for college planning. Use this tax-advantaged account for any level of school, whether your student is attending school in London or somewhere beyond. Our Coverdell Education Savings Account can help you build up savings over several years, all at interest rates that work in your favor because of our credit union's not-for-profit status. Be sure to consult your tax advisor for all the details about tax implications.
Open a Coverdell Education Savings Account today.
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  • Designated beneficiary (child) must be under the age of 18
  • Contributors may be individuals (parent, grandparent, aunt, uncle, etc.) or entities (non-individuals)
  • Individual contributors must meet certain income thresholds based on Modified Adjusted Gross Income (MAGI)
  • For entities (non-individuals), MAGI doesn't apply
  • Consult your tax advisor
  • Annual after-tax contribution of up to £2,000 per designated beneficiary under the age of 18
  • Beneficiaries with special needs may receive funding contributions after age 18
  • IRS penalty-free distributions for: primary, secondary, technical, college, or post-graduate education expenses for the designated beneficiary*

Withdrawals may have additional penalties. Always consult your tax advisor.

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