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Health Savings Accounts (HSA)

Your HSA works just like a regular checking account. You can either write a check or use your debit card to pay for qualified medical expenses. Statements can be mailed or viewed online, and you’ll receive a year-end report for tax purposes. Your account features:
  • Free Debit Card
  • Free First Set of Checks
  • Free Internet Banking
  • Monthly e-Statements
  • Earn Interest
  • Year-End Report

Advantages of Health Savings Accounts

  • Cost Savings – Although the deductibles generally are higher, premiums for HSA-compatible high deductible health plans are usually much lower than premiums for other health plans, creating cost savings for covered individuals and employers.
  • Tax Advantage – HSA savings are tax-free if used to pay for qualified medical expenses.
  • Covers Wide Range of Expenses – HSA assets can be used to pay for a wide range of medical expenses, including medical, dental, and vision care.
  • Flexibility – HSA owners control their HSAs and make all decisions about whether to pay health care expenses from the HSAs or save the assets for future medical expenses.
  • No “Use It or Lose It” Rule – Unlike flexible spending account (FSAs), HSA assets not used during a tax year are not forfeited; the assets remain in the HSA to be used by the HSA owner in the future.
  • Portability – HSA owners may move their HSA assets to another financial organization, even if the contributions were made by their employers.


Rates are accurate as of February 14, 2018

Account Type Minimum Deposit to Open Account Minimum Balance to obtain APY* APY* Interest Rate
Health Savings Account $50.00 $1,000.00 .10% .10%
 $2,500.00 .10% .10%
 $5,000.00 .15% .15%
$10,000.00 .20% .20%

*Annual Percentage Yield

Email us today or contact your nearest branch to set up an account.

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