Health Savings Account (HSA)

hsawebHealth Savings Account (HSA) is designed to help you save for medical expenses by maintaining an account separate from your Regular Share savings account.

Health Savings Accounts include individual and family plans, which are governed by the IRS.


Saves you money by providing significant tax benefits:

  • Contributions are tax deductible; consult a tax advisor.
  • HSA earnings are tax-deferred.
  • If used for qualified medical expenses, HSA assets are tax free.
  • HSA debit card provides convenient access to HSA funds.

Consult a tax advisor concerning tax implications.

Minimum opening deposit $5
Minimum balance to earn dividends
Monthly service fee None
Debit card fee $15 for initial card, then every two years
Withdrawals/Transfers Withdrawals and transfers will be made according to IRS guidelines.
Contributions Contribution limits are determined by IRS annual limits.
Dividends Check Truth-in-Savings Rate and Fee Disclosure for current rates. Dividends are calculated daily and credited monthly.
Account access You may access the account in person, through direct deposit, payroll deduction, ATM card, PAL, Online Banking, Mobile Banking or Share Branch Network.
Statements You will receive statements either monthly or quarterly, depending on your account activity.