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HSA Checking Account

Health Savings Accounts offer a tax-advantaged way to pay qualified expenses




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Checking HSA Savings Account

DCU Health Savings Checking Account

  • Conveniently pay for qualified healthcare expenses
  • For members with high-deductible health plans
  • Earn competitive dividends on your entire daily balance
  • No minimum balance to open
  • Debit card
  • Free online, mobile, and branch access
  • Unlimited check writing
  • Federal insured to $250,000 by NCUA

Please refer to Details and Rates tabs for more information.

"HSA is a handy tool"

Open quote Having an HSA is a great way to manage medical expenses. DCU's is very easy to administer Close quote

— SimonB, Boxborough, MA

HSA Checking Account Details

  • Conveniently pay for qualified healthcare expenses – As a checking account, DCU's HSA makes it easy to pay for medical expenses incurred by you, your spouse, or your dependents.
  • For members with high-deductible health plans – By IRS rules, you must have this type of health plan to have an HSA. In exchange for paying a larger deductible up front, members of these programs tend to see lower insurance premiums.
  • Earn competitive dividends on your entire daily balance – From day of deposit to day of withdrawal, compounded daily and paid monthly.
  • No minimum balance to open – or to earn dividends.
  • Debit card – Your HSA debit card makes it convenient to pay for qualified expenses at thousands of locations that accept Visa debit cards.
  • Free online, mobile, and branch access – You can access your HSA Checking Account 24 hours a day using Online Banking, Mobile Banking, Easy Touch Telephone Teller, and at DCU ATMs with your HSA Debit Card. You can also access your account with your HSA checks, at any DCU branch.
  • Unlimited check writing
  • Federally insured to $250,000 by NCUALearn more about this coverage.

HSA Checking Account Rates*

Balance Tiers Dividend Rate Annual Percentage Yield
When daily balance is $100,000 or more 0.20% 0.20%
When daily balance is $50,000 to $99,999 0.20% 0.20%
When daily balance is $25,000 to $49,999 0.20% 0.20%
When daily balance is $10,000 to $24,999 0.15% 0.15%
When daily balance is $1,000 to $9,999 0.10% 0.10%
When daily balance is less than or equal to $999 0.05% 0.05%

Rates are effective .

*Rates are subject to change weekly. Funds earn dividends from the first business day of deposit and are compounded daily and posted monthly. HSA Checking Account dividends are calculated on the full balance using the highest applicable dividend rate. Accrued dividends are forfeited if account is closed prior to monthly dividend posting. Fees or other conditions may reduce earnings. Refer to DCU's Truth-in-Savings Disclosures and Account Agreements and Schedule of Fees and Service Charges.


Rated 4.6 out of 5 by 47 reviewers.
Rated 5 out of 5 by DCU is overall awesome Hi, I am a DCU member since 2008 and i am big fan of DCU . its a big no nonsense bank and hats off to DCU for it. Other banks charge interest rates,fees here and there but DCU scores over everyone in this regard. I have credit card , Savings ,HSA everything with DCU . Also , i have referred to n no. of my friends in DCU. Cheers !!! Ankur January 6, 2017
Rated 5 out of 5 by It was extremly easy to set up the account. The customer service department was very easy to work with and helped me set up the account very quickly. December 24, 2016
Rated 5 out of 5 by Simple n very quick to open Opening this ac is simple, please include email id :asc@dcu.org in ur website to send the scanned docs. July 16, 2016
Rated 5 out of 5 by DCU has a lot of great discounts and offers to Members The HSA Account features provided by DCU are Awesome. May 23, 2016
Rated 5 out of 5 by Hsa Free and great service. I Definitely recommend this. February 10, 2016
Rated 5 out of 5 by Great and easy access Great and easy access to open the account. It was so fast. January 9, 2016
Rated 5 out of 5 by Quick and easy setup with my existing account. No Fees! I choose DCU for the convenience, but was quite surprised by the no fee plan. It's a no brainer! September 19, 2015
Rated 5 out of 5 by True online I was able to open HSA account and fund it 100% online - after couple of hours, received confirmation by email. Way to go DCU. May 16, 2015
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(19 Questions : 24 Answers)

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1) We set up an HSA with another credit union and just recently found out that we have maxed out the contributions we can make for the year because it was set up as an individual account. The IRS limit is higher for a family account, but that CU doesn't offer a family account.
2) can I scan a check online to deposit into your HSA. I know you offer it for checking account deposits, but does it work with the HSA?
State: Georgia
Age: 35-44
DCU Member for: 5 to 10 years
5 years, 3 months ago
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Matt
Woodstock
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Answer: 
1) Yes, you can setup a family HSA account with DCU.
2) Not at this time but you can scan the check into your checking/savings account and then do an online transfer into your HSA a/c.
State: California
Age: 35-44
DCU Member for: 10 to 20 years
5 years, 2 months ago
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Sher
Los Angeles
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Answer: 
Your CU should not care whether the account is individual or family. All that matters is how much you contribute to all your HSA accounts, and you can have more than one. (DCU is my main one but I had to open another one at my health plan's preferred bank as otherwise I would be ineligible for certain benefits.) Each year the CU/bank will send a form indicating how much you contributed before and after tax. This information goes on your tax return.

Perhaps what you need to do is open an HSA with DCU and make up the difference.

Yes, DCU lets you do "PC Deposit" to an HSA.
State: New Hampshire
Age: 55-65
DCU Member for: Over 20 years
5 years, 3 months ago
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HesletQ
Nashua
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Answer: 
DCU does offer family HSA Checking Accounts. The total contribution allowed for 2011 is $6,150.00 for a family HSA Checking Account. If each spouse is between 55 and 65 you can make an additional contribution of $1,000 for a total contribution of $7,500 for 2011.

At this time, we do not offer the option to make a deposit into an HSA Checking Account using our PC Deposit service. However, you can regularly transfer money into your HSA Checking Account from your other DCU accounts. Set up automatic transfers on PC Branch.
State: Massachusetts
5 years, 3 months ago
Member avatar
by
DCU Staff
Marlborough
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My current employer makes pretax deposits in an exisiting HSA account with HSA bank.
I would like to switch over to DCU because of all the fees associated with the HSA bank account.
Can my employer deposit my withholdings directly into my HSA account with DCU?
Is there any information on how to do this?
State: Massachusetts
Age: 35-44
DCU Member for: Less than 1 year
4 years, 11 months ago
Member avatar
by
Al
Gardner
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Answer: 
The link has changed. You will now have to go <Account Manager>. Then select <Account Info>. Then select <Manage Accounts>. Select <Direct Deposit>.

Hope this helps anyone trying to do the same. DCU customer service rocks!!
State: Georgia
DCU Member for: 10 to 20 years
2 years, 1 month ago
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by
Peter V
Alpharetta
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Answer: 
Contributions can be made by anyone for the eligible HSA owner; however, for Contributions made between January 1 and April 15 a Contribution form must be completed. To obtain a direct deposit letter to provide to your employer, you will want to login to PC Branch, select the Forms/Services tab, click the Direct Deposit link, and complete the Direct Deposit Request form for your HSA Checking.
State: Massachusetts
 
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4 years, 11 months ago
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DCU Staff
Marlborough
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State: Colorado
Age: 35-44
DCU Member for: 10 to 20 years
2 years, 10 months ago
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by
Narayan
Norwalk
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Answer: 
Yes, that's the benefit on HSA. Depending on the institution or service provider, you will have option to trade funds.
State: North Carolina
2 years, 1 month ago
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Charlotte, NC
Charlotte
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Answer: 
There is no limit on the balance that can be maintained in the HSA Checking, as long as, you are not exceeding your yearly contribution limits.
State: Massachusetts
 
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2 years, 10 months ago
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DCU Staff
Marlborough
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I have recently become unemployed and will be buying private health insurance.
State: New Hampshire
Age: 55-65
DCU Member for: Over 20 years
1 year, 1 month ago
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mkt1954
Nashua
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Answer: 
No. Only for medical expenses.
State: Maryland
Age: 45-54
DCU Member for: 10 to 20 years
1 year ago
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by
Santee
Silver Spring
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Answer: 
Any eligible individual may establish an HSA. Eligibility is determined on a monthly basis. To be eligible, an individual must meet all of the following requirements:

• Covered under a high deductible health plan (HDHP) on the first day of the month
• Generally not covered by any health plan that is not an HDHP (exceptions exist for coverage that is not part of an HDHP for accidents, disability, dental care, vision care, long-term care, or permitted insurance)
• Not enrolled in Medicare
• Not able to be claimed as a dependent on another person’s tax return

Qualified medical expenses are expenses incurred after an HSA has been established, are not covered by insurance, and are paid by the HSA owner, his or her spouse, or dependents. Types of qualified medical expenses include:

• diagnosis, cure, mitigation, treatment or prevention of disease, or for the purpose of affecting any structure or function on the body;
• transportation for the essential medical care listed above;
• qualified long-term care services;
• premiums for qualified long-term care insurance, COBRA health care continuation coverage, health care coverage while an individual is receiving unemployment compensation;
• for individuals over age 65, premiums for Medicare Part A or B, Medicare HMO, and the employee share of premiums for employer-sponsored health insurance, including premiums for employer-sponsored retiree health insurance; and
• certain amounts paid for lodging while away from home that is essential to medical care.
State: Massachusetts
 
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1 year, 1 month ago
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DCU Staff
Marlborough
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Can I use my HSA account money to invest to maximize my returns like other HSA providers (Chase, OptumHealth, ect) ?
State: Michigan
 
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4 years ago
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Jay
TROY
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Answer: 
The only option DCU offers at this time for Health Savings Accounts is the HSA Checking account. Rates vary based on the balance maintained and can be found on our web site at https://www.dcu.org/prodserv/r_certificate.html#hsa .
State: Massachusetts
4 years ago
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DCU Staff
Marlborough
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"Great Account"

Open quote In addition to the tax benefits of the program, DCU makes it easy to set up and utilize. It's visible with my other accounts and the check card makes it even easier to use. Close quote

— Jblades3, Leominster, MA

Opening and Managing Your HSA Checking Account

If you have any questions, please speak with a Member Service Representative at your nearest DCU branch or call our Information Center at 508.263.6700 or 800.328.8797, weekdays 8:00am to 9:00pm and Saturdays 9:00am to 3:00pm ET.

"Easy and efficient"

Open quote I've been using my HSA account for the last few years and the whole process was extremely simple and convenient. No minimum balances or fees. I love DCU. Close quote

— vistify, Willoughby Hills, OH

Related Links

  • HSA Service Center – Includes information about Health Savings Accounts and an HSA Planner. Open a new DCU HSA Checking Account or service your existing one.
  • About NCUA Insurance – Complete information and details about NCUA Insurance.
  • Order Checks – Complete information about reordering checks.
  • Affidavit of Forgery (.pdf format) – Use the Affidavit of Forgery to report checks which have been fraudulently cashed on or against your Digital Federal Credit Union account.

Related Applications/Disclosures