First Banks Coverdell Education Savings Account (CESA) plans are available as an 18-Month Variable-Rate
Certificate of Deposit. The CESA 18-month variable-rate
CDs are FDIC insured up to $100,000. CESA's are insured as an irrevocable trust account and are combined for FDIC purposes with other irrevocable trust accounts the account owner may have at First Bank. You can start to build a child's
education savings with as little as $100 and up to $500
per year. Once the Coverdell Education Savings Account (CESA) certificate balance
reaches $1,000 or more, you could move the funds at
maturity to one of our Fixed-Rate Certificates
of Deposit.
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Available
for Coverdell Education Savings Account (CESA) |
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Interest rate adjusts
quarterly, making it possible to maximize your earnings
by responding to market trends |
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Certificate term
of 18 months |
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For added convenience,
this account automatically renews on the day of
maturity |
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Minimum investment
amount of $100 |
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Deposits may be
made to this account in amounts as low as $10, making
it easy and affordable to save for the future |
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Interest compounds
quarterly |
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Annual statement
mailed by January 31st makes record keeping easy |
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Current rates vary,
according to the term of certificate you choose.
Contact the Automated Telephone Banking line at 1-800-760-2265 to speak to
a Telephone Banking Representative or visit your
nearest First Banks Branch for a listing of rates
in your area |
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