Health Savings Accounts

For a wide variety of health expenses

Health Savings Account

Sometimes referred to as "Medical IRAs,” a Health Savings Account (HSA) is a tax-deductible savings account you can use to pay for a wide variety of health expenses. For many consumers, the benefits of the tax deduction make HSAs the smart approach to health insurance.

Government rules determine whether you are eligible and how you operate your account. You must be covered by a high deductible health plan (HDHP) that is HSA-compatible and not enrolled in Medicare, in addition to other requirements. Unlike Flexible Spending Accounts, your HSA has no "use it or lose it" requirement and also stays with you if you change jobs or retire.

Features

  • Competitive Dividend Rate

  • Free Debit card and Bill Pay access

  • Free and unlimited ATM transactions at thousands of Provident and CO-OP Network ATMs

  • Free and unlimited check writing

  • Four (4) free ATM withdrawals at non-Provident ATMs per month138

  • Automatic transfers & Direct Deposit

  • Overdraft Transfer Protection002 
     

HSA Checking

Provident's HSA works like a checking account and earns dividends. Funds for immediate medical expenses are accessed with a debit card.

This high rate certificate also has an add-on feature which gives you the ability to make deposits at any time.135 Tiered rates are available on this certificate giving you the ability to earn higher rates based on the current balance of your certificate.

Features

  • Guaranteed high rates for the term of the certificate

  • Choice of maturity date

  • Federally insured to $250,000 by NCUA

  • Dividends may be transferred to Checking or Savings or withdrawn without penalty at maturity
     

HSA "Add-On" Certificate

This account is available to Health Savings Account (HSA) holders. With an HSA certificate, you have the option to choose either a 12 or 24 month term and can make contributions up to your HSA plan limits.

HSA Accounts

Rates are valid as of and are subject to change.

Type Min. Balance Dividend Rate Annual Percentage Yield (APY) Disclaimers
12 Month Add-on $250 1.943% 1.96% C, D, N
$50,000 1.992% 2.01%
$100,000 2.041% 2.06%
24 Month Add-on $250 2.041% 2.06% C, D, N
$50,000 2.090% 2.11%
$100,000 2.139% 2.16%
HSA Checking $25 0.310% 0.31% P
  • C) Early Withdrawal Penalties: A penalty may be imposed for withdrawals before maturity for certificates: a) If your account has an original maturity of less than 12 months, the penalty we may impose will equal the greater of $100.00 or 90 days earnings. b) If your account has an original maturity of 12 months or more, the penalty will equal the greater of $150.00 or 180 days earnings. For more information, please refer to Provident's Member Agreement. c) For Youth Add-On certificates the penalty we may impose will equal 180 days earnings.
  • D) You can add deposits of any amount, at any time, up to a maximum balance of $1,000,000 without affecting your term. Deposits that bring the balance over $1,000,000 are at the discretion of Provident’s management.
  • N) This account requires concurrent enrollment in a Provident HSA Checking account.
  • P) There is a service charge of $2 per month for this account.

Disclosures

  • 002) In the event of an overdraft, if you have selected certain accounts to be used for Overdraft Transfer Protection and the funds are available to cover the transaction, they are automatically transferred from your other accounts. If you do not have funds available we offer Courtesy Pay Overdraft (there is a per-item fee for Courtesy Pay Overdraft) Service Charge Schedule
  • 135) You can add deposits of any amount, at any time, up to a maximum balance of $1,000,000 without affecting your term. Deposits that bring the balance over $1,000,000 are at the discretion of Provident's management.
  • 138) Provident Credit Union service fees apply on the fifth and all consecutive ATM transactions within a statement period from these networks. Members with ATM Checking accounts are allowed 10 transactions per statement period without a Provident service fee. This fee does not apply to members with Super Reward Checking accounts.