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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.

18-Month Variable-Rate Certificate Features:

Available for Coverdell Education Savings Account (CESA)
Interest rate adjusts quarterly, making it possible to maximize your earnings by responding to market trends
Certificate term of 18 months
For added convenience, this account automatically renews on the day of maturity
Minimum investment amount of $100
Deposits may be made to this account in amounts as low as $10, making it easy and affordable to save for the future
Interest compounds quarterly
Annual statement mailed by January 31st makes record keeping easy
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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