Health Savings Account (HSA)
Tech CU's Health Savings Account offers a tax advantage† to help offset health care expenses.
What is a Health Savings Account?
Health Savings Accounts (HSAs) were created by Congress to combat rising medical costs by providing and incentive for more consumers to help pay medical deductible expenses.
In order to take advantage of our Tech CU’s HSA, you must first have HSA eligible health insurance.
Save fast with a Tech CU HSA!
Earn 5.50% APY* on the first $1,000 of your contributions and benefit from the many great features of this account!
- No maintenance, transfer, rollover and termination fees
- $5 minimum opening balance*
- Free Online Banking account management
- Debit Card Access
- Free checks
Tech CU's HSAs come with a separate CheckCard, and you may also access your account in person, via checks or view the account in Online Banking.
| |
Health Savings Account |
| Tiers |
Dividend Rate** |
Annual Percentage Yield** |
| $0.1 to $1,000 |
5.380% |
5.50% |
| Balance over $1,000 |
1.630% |
1.650% | |
For more information, visit the HSA Answer Center, HSA Faq Page or the HSA Service Center.
How to open a Tech CU HSA
- Step 1: Apply for HSA eligible insurance (aka: High Deductible Health Insurance Plan) if you do not currently have one.
- Step 2: Download, print, and complete a Tech CU membership application (even if you’re already a Tech CU member).
- Step 3: Submit it with your Health Savings Account forms (found in the HSA Service Center). (Don’t forget to show your ID or make a copy of your valid license and send it in with your application!)
You can either drop your paperwork off at a local Tech CU Financial Center or mail it in to the address below:
Technology Credit Union
Attn: HSA/IRA Department
2010 North First Street
San Jose, CA 95131
†Please consult a tax advisor
*$5 minimum opening deposit. There is a 10% IRS penalty on non-qualified withdrawals.
** Dividends are compounded and paid on the last day of the month. APY = Annual Percentage Yield. Rates are subject to change without notice.
Your savings federally insured to at least $100,000 and backed by the full faith and credit of the United States Government.