Health Savings Accounts (HSAs) are designed to cover individual and family medical expenses.

Savings Rates

Dividend Rate: 0.50%

APY: 0.50%

APY=Annual Percentage Yield

Rates current as of 08/21/2008
Last changed on 02/01/2008
The above rates are subject to change at any time without notice. Rate may change after opening account. Fees could reduce earnings on account.

Some great reasons to open an HSA include:

Tax Savings— Deduct the money you contribute to your HSA from your income on your federal taxes. If your employer contributes, it is done pre-tax. Consult your tax advisor for more detailed information about the tax benefits of an HSA.

Earned Dividend— Earn tax-deferred dividend on your account balance. We offer HSAs that pay the same dividends as regular savings accounts.

Extra Savings— Save any unused contributions. With an HSA, the balance carries over from year to year.

Portable— Take your HSA with you when you change jobs or move. Even if your employer contributes to your account, the money you accumulate in your HSA is yours.

Easy to Use— Use your HSA just like a checking account. Write checks or use your RCU HSA Check Card at your doctor’s office, pharmacy, or anywhere else you make medical payments or purchases. The account must be a single account, but a named power-of-attorney can also access the account.

Visit the IRS website on Health Savings Accounts.

HSA Charges

Set-up Charge	$10
Dividend Paid	Yes
Checks First 30 FREE
Check Card	FREE
ePay	FREE

Accessing Your HSA at RCU
RCU will provide your first 30 checks FREE. The checks are gray with a health symbol and have a unique cover to help differentiate between your RCU Health Savings/Checking Account and your regular RCU Checking Account. You will also receive an ATM/Check Card with “Health Savings Account” added to the name section to help you identify the card. You may withdraw funds directly from your HSA using an ATM, but you will not be able to make deposits through an ATM.

We also offer FREE CompuTeller, eBranch, and ePay services to Members with a Health Savings Account. Transfers can be made through CompuTeller and eBranch. Transfers made online will register under the current year.