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Home Bank Savings Coverdell ESA

Their future'stoo important to leave to chance.

A Coverdell ESA is a tax-advantaged savings account built to cover qualified education expenses from kindergarten all the way through college. We help you set it up, grow it steadily, and use it when the time comes.

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Designed for their education. Built for your life.

Competitive dividends Your contributions don't just sit there. They earn dividends at a competitive rate, putting your money to work from day one.
Tax-free growth Dividends earned in your Coverdell ESA grow completely tax-free.
Tax-free withdrawals When you use the funds for qualified education expenses, you don't pay a cent in tax on the distribution.
Contribute up to 2,000 a year Contributions can come from parents, grandparents, or anyone else who wants to invest in that child's future.
$1 Minimum opening deposit With a minimum opening deposit of just $1, it's easy to start building your savings today.
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How your Coverdell ESA works.

No complexity. No guesswork. Just a smart, tax-advantaged way to save.

  • Account must be opened before the beneficiary turns 18.
  • Beneficiary must be under 30 to use the funds. Any unused funds may be transferred to another qualifying family member.
  • Funds can be used for qualified K–12 expenses, including tuition, books, tutoring, uniforms, and special needs services.
  • Funds can also be used for qualified higher education expenses, including college tuition, fees, room, board, and required equipment.
  • Distributions for qualified expenses are completely federal income tax-free.
  • Contributions are not federally tax-deductible, but your money grows sheltered from tax while it's in the account.
  • Competitive dividend rate applied from the day you open your account.
  • No monthly maintenance fees.
  • Easy account management online or in branch, whichever works best for you.
  • For full contribution eligibility requirements, speak with one of our financial specialists or visit IRS.gov.
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Smarter Banking. More Living. Built for Members. Designed for Life. Life Comes First. Simple. Smart. Human. Banking Built for Real Life. Move Forward with Confidence. Better Banking, Better Living. Smarter Banking. More Living. Built for Members. Designed for Life. Life Comes First. Simple. Smart. Human. Banking Built for Real Life. Move Forward with Confidence. Better Banking, Better Living.

Your Coverdell ESA questions, answered.

The ones we hear most. Answered plainly, without the fine print.

The short answer: just about everyone. Anyone who becomes a member of Arise Financial can open a LiveUp Savings Account. If you live outside our servicing areas, you may still qualify through one of our community partners—and we'll even cover the cost of joining on your behalf. If you're unsure about eligibility, don't worry. We have your back and are happy to help you get started. Contact us to learn more.

Just $1.

No, LiveUp Savings has no monthly maintenance fee.

Dividends are tiered — the more you save, the more you earn.

Yes, your funds are NCUA insured up to $250,000.

Yes, you can open a LiveUp Savings Account entirely online.

No, a checking account is not required, though bundling can unlock additional benefits.

Terms and Conditions

To qualify for the featured APY, members must maintain an active Arise Financial checking account with at least six (6) qualifying transactions per month. Eligible members will automatically receive the applicable rate. A checking account is not required to open a LiveUp Savings Account; however, additional benefits may be available when accounts are bundled. Rates are variable and subject to change without notice.

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