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Health Savings Account

Even if you're a young whippersnapper, establishing a health savings account (HSA) is a wise move. Marauding deer, errant snowmobiles, and (gasp!) Packers losses have been known to cause costly injuries to all ages.

An HSA allows for tax-free income to be used for qualified medical expenses. So your earning power increases while you're setting aside funds for future medical needs. Similar to an IRA, it's best to fund an HSA before you need it. So get started today.

Summary

No setup or annual fees
Reduce your income tax*
Earn greater dividends than regular savings
$500 minimum balance to earn dividends
Dividends compound monthly
Withdrawals are tax free when used for qualified medical expenses**
Checking option available
Money rolls over year-to-year automatically
No "use it or lose it" policy
HSA is owned by you, not employer
Easy withdrawal access by check, debit card, online, teller
$5 minimum deposit to open
Federally insured by NCUA

Check out our current rates.

*Direct deposit from your paycheck will reduce your taxable earnings. If contributions are made after income was taxed, the amount deposited is tax deductible. Consult a tax advisor.

**Withdrawals for non-qualified medical expenses are subject to income tax and a 10% penalty. The 10% penalty is waived for persons 65 and over or who have become disabled.

Eligibility

Must be covered under a qualified, high deductible health plan
Cannot be covered by another health plan that is not a high deductible health plan
Cannot be claimed as a dependent on another person's tax return
Cannot be enrolled in Medicare