Coverdell CDs
  • $500 minimum deposit to open
  • Terms ranging from seven days to 120 months
  • 10-day grace period
  • At the time of renewal, the interest credited to the account becomes part of the principal for the next term
  • Low annual fee of $5 that covers all accounts under the retirement plan

Coverdell Savings Account
  • Appeals to those who want to save for education a little at a time
  • An initial deposit is required at the time the account is established
  • Low annual fee of $5 that covers all accounts under the retirement plan
  • Monthly statements
  • Interest paid monthly
  • 24-hour telephone banking at (888) 248-6423


Please visit your nearest Flagstar branch to learn more about Coverdell Educational accounts.

Deposits grow tax-free until distributed. Distributions are tax-free as long as they are used for qualified education expenses. Consult your tax advisor.

CONTACT
  • (888) 248-6423