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HSA Cds -- Who Offers Them?

racecar
  |     |   616 posts since 2014

Please post here if you know of any CUs or banks that offer HSA CDs -- as long as there are no fees (ie, no yearly, or monthly fees for the HSA account).

Since HSA savings rates are still in the toilet, and I don't need my HSA money now, I thought I should look around. I found one CU (that I'm not a member of) that offers them at their normal CD rates, but before I decide, was wondering if anyone else out there can let me know of any others.

Again, please no places that charge a monthly or yearly upkeep fee. Places that basically let you use your HSA money to open up an HSA CD at their normal (hopefully somewhat decent) CD terms, just with the HSA money.

Thanks!

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4


Answers
JDubs
  |     |   69 posts since 2016
The only one I know of off the top of my head is Beacon CU in Indiana: https://www.beaconcu.org/savings-rates/
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alan1
  |     |   877 posts since 2015
For starters, you can look near the top of this page for "Savings Accounts" -- go up to it, don't click, just look at the listings under "Savings Accounts"; then click on "Health Savings Accounts".
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alan1
  |     |   877 posts since 2015
just to clarify my earlier comment -- the reason I suggested you look at HSA savings accounts listings on this site is that I'm unaware of any websites that list HSA CD issuers or rates. Looking at the HSA savings accounts will give you an idea of which institutions offer HSAs. I think you may have to check out the individual banks and credit unions to determine which ones offer HSA CDs.
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bwk1954
  |     |   25 posts since 2011
Interior Federal CU (easy membership) offers HSA CDs. I have not used them, but their fee schedule shows no annual fee for an HSA.
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RickZ
  |     |   218 posts since 2010
Timely thread - I just noticed that Tropical Financial, where I have my HSA account, lowered its rate last week from 2% to 1.5%. No monthly fee there but what's with lowering their rate in a rising rate environment.
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steved
  |     |   24 posts since 2014
Fidelity now has no-fee HSA accounts. You can buy brokered CDs from a variety of banks (as well as invest in T-bills, stock and mutual funds).
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RJM
  |     |   499 posts since 2011
Fidelity brokerage now has free HSAs and you can buy brokered CDs within it. I was formerly with LMCU and they also allowed it.
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RJM
  |     |   499 posts since 2011
I had hoped that Fidelity would allow me to use some of my free trades within the HSA but they said its strictly forbidden. The rep was willing but apparently the laws don't allow it.
..
Because I have free trades in my other accounts, I find myself less likely to buy in the HSA.

I guess I will wait for perfect pitches to buy in that account. So far its 100% cash.
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SYC
  |     |   312 posts since 2017
Evansville Teachers FCU offers HSA CDs. Easy for anyone to join on-line with a $5 contribution.

https://etfcu.org/accounts/hsa/
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bwk1954
  |     |   25 posts since 2011
NASA FCU (easy membership) offers HSA CDs. Their schedule of fees shows $35 to close the account.
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racecar
  |     |   616 posts since 2014
Thanks but that's not going to help much, because HSA savings accounts are everywhere (there are hundreds or thousands of places that offer them -- including where my HSA currently is, as well as the places where it used to be) but almost none offer HSA CDs.

So that's why I'm hoping those here in this community, who might happen to have HSA CDs, or know of a place that does, can help.

A great many institutions offer HSA savings accounts. But only a few offer things like HSA CDs or HSA Investments. And I'd like to find a place that offers HSA CDs. If anyone knows of any (as long as there are no monthly or yearly upkeep fees) please post. Thanks!
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Anon456
  |     |   249 posts since 2011
I posted about BOP - Bank of the Panhandle. They do have a two year HSA CD with rates in the 2% range based on CD size, but also do have a $5 a month fee. The money coming in easily handles that fee, so I have my HSA there. Best I have been able to locate.

AND you are correct. When HSA accounts first came out, many did not have fees, and offered mutual fund type holdings. Most I see today are savings ONLY, very low rates, and also charge a monthly or annual fee. BOP, again, is the best I have seen. Pls post to everyone if find anything better.
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bwk1954
  |     |   25 posts since 2011
To Anon456: Connexus CU (easy membership) has an HSA savings account which pays 2% on a balance of $15,000 and above. No monthly fee although their fee schedule shows $2 a month which they choose not to charge.
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bwk1954
  |     |   25 posts since 2011
The fee schecule of Connexus also shows a charge of $30 to transfer out.
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racecar
  |     |   616 posts since 2014
Thanks for the replies, everyone. Hopefully the thread will keep active and others over time will see it and add more places. I'm getting 1.5% too where I am now and think I'm going to move it to a CD somewhere.
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SYC
  |     |   312 posts since 2017
Michigan State University FCU offers HSA CDs:

https://www.depositaccounts.com/banks/michigan-state-university-cu.html#promo35974
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