Coronavirus (COVID-19) Update
The health, safety and well-being of our customers, employees and communities continues to be our top priority. Due to varying safety recommendations in the areas surrounding our branches, some locations are open to the public, while others remain open by appointment only. All drive-thru services and hours remain unaffected. Please use our Lobby Reopening Schedule to determine if an appointment is required before your visit. We will be updating the list regularly. Please avoid branch lobby visits if you are sick, have been exposed to the virus, or have traveled to a high-risk area.
Rest assured, we are deeply committed to being responsive to the needs of all of our customers. We appreciate your understanding during this time.
Roth IRA
The main difference between a Roth IRA and a traditional IRA is that deposits into the former are not tax-deductible. The advantage is that when you reach retirement age, withdrawals from your Roth IRA are tax-free.
Additional features of a Roth IRA from Great Western Bank:
- You select the term of the account
- No fees to maintain your account
- No fees for internal transfers or rollovers
- Withdrawals for education or your first home1
1Any money withdrawn is still taxable as regular income and may be subject to bank penalty.
Please consult a tax advisor to determine if the earnings would be taxable or not.