Tired of being charged to have someone else save your money? Apply for membership with us, and start saving your money the smart way. Special Christmas Club accounts and other club accounts are available. Click here to apply.
The following apply to this account:
- $5.00 minimum open deposit is required
- Dividends are compounded and paid quarterly
- Average daily balance is the dividend compounding method
The credit union offers Health Savings Accounts (HSA). An HSA is an account that you can put money into to save for future
medical expenses. There are certain advantages to putting money into these accounts, including favorable tax treatment. Any
adult can contribute to an HSA if they:
- Have coverage under an HSA qualified "high deductible health plan"
- Have no other first-dollar medical coverage
- Are not enrolled in Medicare
- Can not be claimed as a dependent on someone else’s tax return
The advantages of an HSA are:
- Security - Your high deductible insurance and HSA protect you against high or unexpected medical bills.
- Affordability - You should be able to lower your health insurance premiums by switching to health insurance coverage with a higher deductible.
- Flexibility - You can use the funds for current medical expenses or save for future expenses.
- Ownership - Funds remain in the account from year to year, just like an IRA. There are no "use it or lose it" rules for HSAs.
- Tax Savings - An HSA provides you triple tax savings; tax deductions when you contribute to your account; tax-free earnings on the account; and tax-free withdrawals for qualified medical expenses.
Contact the credit union today for more information or open your Health Savings Account today!
