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Education Savings Accounts (ESAs)

Start saving money to help a child, grandchild or any young person pay for education expenses.

Coverdell Education Savings Accounts (ESAs) are an ideal way to begin saving money to help a child, grandchild or any young person pay for education expenses.

ESA contributions are not tax-deductible, but they may earn interest tax-deferred until distributed.

ESA Features

  • Qualified expenses for K-12 school costs
    This includes home computer equipment, Internet access and tutoring.
  • Waiver of age limitations for children with special needs
    The law allows contributions for individuals with special needs beyond age 18 and no mandatory pay-out at age 30.

ESA Investment Options

  • Savings Account - $100 minimum deposit or $25 with automated deposits
  • Certificate Accounts - $100 minimum deposit or $25 with automated deposits, 6-month, 1-year and 2-year terms

ESA Summary

ESA Dividend APYs

IRA / ESA Savings



APY (0.50% rate)

6-Month IRA / ESA



APY (0.50% rate)

1-Year IRA / ESA



APY (0.55% rate)

2-Year IRA / ESA



APY (0.60% rate)


Open an ESA


Service your ESA


ESA Information and Help


Scam and Fraud Alert

Please remember that Star One employees will never call you to verify or ask for your personal information.

Hang up immediately if someone claiming to be a Star One employee asks for any banking information—such as your Online Banking login information, account numbers, card PINs, or one-time passcodes.

A fraudster may try to reassure you that it's OK to share your information—please hang up, it's not OK.

Several Star One members have received phone calls from a person claiming to be a Star One employee—with a caller ID forged to look like a Star One phone number—and whose goal is to gain access to members' bank accounts online.