Coverdell Education Savings Account
If college is in your family’s future, open a Coverdell Education Savings Account today.
A Coverdell Education Savings Account (CESA) is similar to a traditional IRA, but differs in two key ways: It’s typically set up with an educational purpose in mind, and anyone can contribute to it. That includes students, parents, grandparents, relatives, friends, employers, etc.
You can set up a separate CESA for multiple children under 18. Funds must be redeemed before each account holder is 30. Other features of a Great Western Bank CESA include:
- Qualified educational uses are tax-free
- Contribute up to a maximum amount allowed by law per child, per year
- No fees to maintain your account
- No fees for internal transfers or rollovers