BECOME A MEMBER APPLY FOR HOME LOAN APPLY FOR OTHER LOAN Search toggle Online Banking Login MENU YOUth Education Savings Home > Save > For YOUth > YOUth Education Savings Tax-free savings for education expenses This Coverdell Education Savings account with NGFCU allows you to earn dividends with no federal taxes when savings are used for educational expenses. It’s a great way to save for a student beneficiary’s tuition, tutoring, books, supplies, room and board, computers and other essentials. Start saving with as little as $5 Here are just a few of the benefits for Coverdell Education Savings account holders: Save for the beneficiary’s primary or vocational school through higher education Make after-tax contributions through the beneficiary’s 18th birthday Open an Accumulation Account with as little as $5 More than one person can open an account for the same beneficiary (total annual contributions not to exceed $2,000) Tax-free withdrawals when not exceeding beneficiary’s annual education expenses Funds available until 30 days after beneficiary’s 30th birthday E-mail memberservices@ngfcu.us or call us at 800-633-2848 to open an account. Or stop by your NGFCU branch. Related Links Holiday Club IRAs Money Market NGFCU for YOUth Account Savings Savings Rates Term Savings Tax benefits for education savings The Internal Revenue Service offers tax benefit guidelines when saving or paying for higher education expenses. Learn more Important Numbers Call Toll Free 800-633-2848 (available 24/7) Credit Card Cardholder Services: 800-633-2848 (available 24/7) Debit Card Fraud Center: International Lost or Stolen Card: 727-227-9012 After hours Lost or Stolen Card: 800-754-4128 Members traveling or who reside outside of the US: 727-227-2447 Routing #322276088 Your savings insured to at least $250,000 by the National Credit Union Administration, a U.S. Government Agency. Northrop Grumman Federal Credit Union does business in accordance with the Federal Fair Housing Law and the Equal Credit Opportunity Act.