A Health Savings Account (HSA) enables you to save and conveniently pay for qualified medical expenses while you earn tax-free interest and pay no monthly service fees. The money in your HSA is yours even if you change jobs, switch your health plan, or retire. Your unused HSA balance rolls over from year to year. And, best of all, HSAs allow for tax-free deposits, tax-free earnings and tax-free withdrawals (for qualified medical expenses).1 Also, after age 65, you can withdraw funds from your HSA penalty-free.1


Key features:

  • Save money tax-free for health-care expenses1
  • No monthly service fees
  • Earn interest on your balance
  • Interest paid monthly
1 Contributions, investment earnings, and distributions are tax free for federal tax purposes if used to pay for qualified medical expenses, and may or may not be subject to state taxation. A list of Eligible Medical Expenses can be found in IRS Publication 502, http://www.irs.gov/pub/irs-pdf/p502.pdf. As described in IRS publication 969, http://www.irs.gov/pub/irs-pdf/p969.pdf, certain over-the-counter medications (when prescribed by a doctor) are considered eligible medical expenses for HSA purposes. If an individual is 65 or older, there is no penalty to withdraw HSA funds. However, income taxes will apply if the distribution is not used for qualified medical expenses. For more information consult a tax adviser or your state department of revenue. All contributions and distributions are your responsibility and must be within IRS regulatory limits.

HSA Investment Option Through CFS2:

In addition to your Interest-bearing health savings account, you may choose to invest your HSA funds through our broker/dealer, CUSO Financial Services, L.P. (CFS). Our knowledgeable CFS Financial Advisors will meet with you to understand your goals, set-up your investment account and help you uncover which options are best for you, your family, and your situation. Learn More

2Non-deposit investment products and services are offered through CUSO Financial Services, L.P. (“CFS”), a registered broker-dealer (Member FINRA / SIPC) and SEC Registered Investment Advisor. Products offered through CFS: are not NCUA/NCUSIF or otherwise federally insured, are not guarantees or obligations of the credit union, and may involve investment risk including possible loss of principal. Investment Representatives are registered through CFS. EECU has contracted with CFS to make non-deposit investment products and services available to credit union members.

Current Rates:

Health Savings Account
$0 - $2,499.99 N/A N/A
$2,500 - $4,999.99 0.10% 0.10%
$5,000 - $9,999.99 0.20% 0.20%
$10,000+ 0.30% 0.30%
3 Minimum opening deposit and balance of $.01 required. You will receive a Health Savings Account Agreement and Disclosures at enrollment. Please refer to those documents for complete terms and conditions. A free, no annual fee EECU HSA Debit Mastercard® will be sent to you separately. And, an EECU Health Savings Account Specialist is available to assist you with any questions you may have about your EECU HSA.

4 APY (Annual Percentage Yield) is accurate as of March 2, 2021 and is subject to change at any time. Average daily balance is required to earn the disclosed Annual Percentage Yield. Fees could reduce the earnings on the account. Dividend and interest is compounded daily and credited monthly. See Truth-In-Savings for Health Savings Account for more details.

Is an HSA right for you?

You must have:
A high deductible health plan and no other health coverage

You must not be:
Enrolled in Medicare or claimed as a dependent on someone else's return

Open Account Schedule an Appointment

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Additional HSA benefits.

  • Direct Deposit
  • Free Online Financial Management Program
  • Free Online and Mobile Banking
  • Free Electronic Bill Pay
  • Free Debit Mastercard®

It's better with EECU

Here are a few reasons why banking is friendlier, easier, and more enjoyable with EECU.

Important Resources

From program details to critical forms, here are a list of important resources necessary to make the most of your HSA. Interested in learning more about managing your account? Visit the Savings Resource Center to find common support topics, answers to frequently asked questions, and important program details.

Visit the Savings Resource Center

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Real members. Real stories.

Multiple generations of our families have taken advantage of the benefits of being EECU members. From checking, savings, CDs, car & home loans, we have trusted EECU for well over 50 years! No matter what the dollar amount, they always take a personal interest in our needs and make us feel like our business is valuable.

Bill & Joyce Baker
Member Since 1984

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