Coronavirus (COVID-19) Update
The health, safety and well-being of our customers, employees and communities continues to be our top priority. At this time, our branch lobbies will be available by appointment only. We encourage you to use our drive-thrus, which will be open during normal business hours, online and mobile banking and our ATM network. You can schedule an appointment by calling your local banker. Read more.

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