Health Savings account Rates
Compare DuGood Federal Credit Union's best rates and
stop by any one of our convenient locations to open an HSA.
HEALTH SAVINGS ACCOUNT RATES
Rates effective September 21, 2022HSA - Checking Account
0.05% APY*
- Rate: 0.05%
- Minimum Balance: $1,000
HSA - Savings Account
0.20% APY*
- Rate: 0.20%
- Minimum Balance: $100
*APY = Annual Percentage Yield. IRAs/HSAs can be placed in any certificate in which the minimum deposit requirements can be met. Early withdrawal penalties may apply. Any fee incurred could reduce earnings. Please call to verify rates.
Get answers to frequently asked questions
What is a Health Savings Account?
A Health Savings Account (HSA) is a tax-advantaged savings plan that can be used to pay for current and future qualified medical expenses.
What are some benefits of having a HSA?
- Affordability- High health insurance policy deductibles mean lower premiums
- Flexibility- Contributions can be made at any time during the year. Plus, there is no "use it or lose it" rule. Your balance rolls over from year to year
- Protection- You can save money to pay high or unexpected medical bills
- Savings- Enjoy triple the savings¹, tax deductible contributions, tax-free earnings through investments, and tax-free withdrawals for qualified medical expenses
- Controllable- You control the way HSA funds are spent and invested. You can place your money in a savings, checking², or certificate³. Plus, the account is completely portable; it goes where you go
- Convenient- Access at any DuGood location, Online Banking, or Telephone Account Access. You can also set up your HSA as a checking… you’ll be able to write checks or make payments with a debit card
How can I open a HSA?
Stop by any DuGood locations to speak with a credit union representative who can walk you through the process.
Things to consider:
- Must have a savings account before opening a certificate
- Must be covered by a High Deductible Health Plan
- Cannot be covered by other health plans
- Cannot be enrolled in Medicare
- May not be claimed as a dependent on anyone else’s tax return
1 DuGood Federal Credit Union does not offer tax advice. Please consult your tax advisor for potential tax benefits.
2 Overdraft protection and courtesy pay are not available on HSA checking accounts. NSF fees may apply and will be considered a loss of investment.
3 Early withdrawal penalties may apply to HSA certificates. Restrictions apply. Contact the credit union for full details.