High Yielding Health Savings Account
June 16, 2008
A credit union in the Chicago-area is offering a Health Savings Account (HSA) with a 5.15% APY on average daily balances of $100 or more which depending upon a person's tax bracket can be a tax equivalent yield of over 6.00%. Alliant Credit Union offers the high rate to members who work or live in the Chicago suburbs of Arlington Heights, Bensenville, Des Plaines, Elk Grove, Elmhurst, Franklin Park, Harwood Heights, Itasca, Mount Prospect, Northlake, Niles, Norridge, Park Ridge, Prospect Heights, River Grove, Rolling Meadows, Rosemont, Schiller Park, Wood Dale or Chicago O'Hare Airport property. To open a HSA account you must be enrolled in a High Deductible Health Plan (HDHP) or roll over funds from an existing HSA account.
More benefits of the Alliant Credit Union HSA account include:
- Easy access to funds via a free VISA® HSA Debit Card or HSA checks
- Free HSA checks
- No fees for account opening, maintenance or transactions
- No initial deposit or minimum balance requirement
- Free 24/7 personal customer service
Unused funds in a HSA account can remain in the account to be used at a future date and earnings on a HSA account compound tax-deferred. Deposits with Alliant Credit Union are insured by the National Credit Union (NCUA) up to $100,000 per depositor.
