Please note that Clackamas Federal Credit Union will be closed on Monday, May 28th in observance of Memorial Day.

Personal

Education Savings

Education Savings Accounts

At Clackamas, we offer two ways to help children and youth to prepare for college.1 If you’re saving for your child’s education, or if you’re a post-secondary student with a limited income, the tools below may help you accomplish your goals.

Coverdell Account

A Coverdell Savings Account lets you set money aside tax-free.2  As long as you use these savings for a child’s educational expenses, you can withdraw them tax-free, too. Unlike 529 savings plans, Coverdell Savings Accounts can be used on a variety of expenses, not limited to tuition, for most public, private, and parochial schools, from elementary school through college. To apply for a Coverdell Account, call (503) 656-0671 or stop by a branch.

MESA Account

We’ve partnered with the Northwest Credit Union Foundation to participate in the Matched Education Savings Account (MESA) program. MESA helps hardworking, post-secondary students with limited incomes develop smart savings habits, increase their financial literacy, and pay for college. For every $1 you save, the Northwest MESA program matches it with $3. Students can save up to $500 for a maximum match of $1,500.

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