The Education Contribution Account (CAE, for its Spanish acronym), allows you to save money for the college education of your children. The contribution can be deducted from your Income Tax Return in addition to other IRA accounts.

More information about Educational Contribution Account (ECA)

  • It can be opened by the person who has parental authority and custody of the beneficiary.
  • Relatives can deposit up to the third degree of consanguinity (parents, grandparents, great-grandparents) or second degree of affinity (step-parents, grandparents-in-law).
  • The principal and interests are insured by the FDIC.
  • Available terms: 1 and 3 years.
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image- Educational Contribution Account (ECA)

More information about Educational Stock Market

  • The interest earned is based on the Standard and Poor's 500 Index (S&P 500.)
  • The principal is insured by the FDIC.
  • Minimum initial deposit $500.
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image - Educational Stock Market