The Credit Union offers Health Savings Accounts (HSAs), and we can help you establish yours if you are covered by a high-deductible health plan. Here are three good reasons to have one:

• • Tax Savings. Federally qualified HSA contributions can be deducted from your gross income on your federal tax return, even if you do not itemize your deductions; distributions are tax-free if used for qualified medical expenses; and accumulated funds grow with tax-deferred earnings.
• • Control. You make all the decisions relating to your account, like whether to save for future expenses or pay current medical expenses and how to invest the funds.
• • Portability. You own your account, and it goes with you if you change jobs or retire. Funds remain in the account from year to year, just like an IRA.

Rate and Fee Schedule Pertaining to Membership Share and Health Savings Checking

Effective date: 3/1/2010	Membership Share	Health Savings Checking
Dividend Rate/Annual Percentage Yield:	.50%/ .50%	.20%/.20%
Dividends Compounded	Monthly	Monthly
Dividends Credited	Monthly	Monthly
Dividends Period	Calendar Month	Calendar Month
Balance Requirements:
Minimum Opening Deposit	$5.00	0.00
Minimum to Avoid Service Fee	$5.00	N/A
Minimum to Earn Stated APY	N/A	N/A

Account Disclosures

The Membership Share and Health Savings Checking are dividend-bearing accounts.

The Membership Share transactions are limited to the initial $5.00 opening deposit required for membership, with no additional deposit or withdrawal activity allowed. The Membership Share is not a part of the Health Savings Account balance. Credit Union membership share par value is $5.00.

Health Savings Checking transactions are limited only to the available balance in the account. Overdraft protection is not available. Checks are optional and should be used for “normal distributions” only. Therefore, for any other type of Health Savings distribution such as death, disability, and excess contribution removal, contact the Credit Union to complete a withdrawal form to document the purpose of the distribution.

Fee Schedule

Membership Share Account Fees			Health Savings Checking/Debit Account Fees
Service charge	$2.00	Per month if minimum balance is not maintained	Check printing	Prices may vary depending on style.
Closing fee	$10.00	If account is opened less than six months	Service charge	-0-

» See Other Service Fees

This rate and fee schedule is accurate as of this date. Rates and fees are subject to change. If you have questions regarding the rate and fee information, please contact the Credit Union. Revised 04/12/2010.

Your savings federally insured to at least $250,000 and backed by the full faith and credit of the United States Government.