IRA and HSA Accounts

While savings and money market deposit accounts are designed to keep your money accessible, comprehensive financial planning includes long-term savings.

If you are saving for retirement, Individual Retirement Accounts (IRAs) allow you to earn a higher interest rate with the possibility of deferring taxes until later in life.

We are also proud to offer Health Savings Accounts (HSA). Set aside pre-tax dollars in an HSA to help cover qualifying medical expenses. Must have a qualifying high deductible health plan to be eligible for an HSA account.

Be sure to consult your tax advisor to see how an IRA or HSA might apply to you and your financial goals.


Contact your local branch to open an account or learn more.

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Individual Retirement Accounts (IRAs)

An IRA is a great way to save for your retirement.  IRAs offer potential tax savings and the ability to compound your money through contributions and interest earnings.

Most IRAs fall into one of two categories — the Roth IRA or the Traditional IRA.  1st Security Bank can offer you a variety of options within each category. 

Another type of deferred-tax account that is growing in popularity is the Coverdell Education Savings Account, or “CESA.”

We offer each of these deferred-tax investments and will be happy to help you find the account best suited to you.  Please contact your branch to get started.

If you have questions about our IRA accounts, would like to use our planning tools, calculators, or read more about IRAs, please visit our IRA Central page. 

Contact your local branch to open an account or learn more.

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Health Savings Account (HSAs)

Save more with less by using pre-tax dollars to cover qualifying medical expenses with an HSA account.

What is a Health Savings Accounts (HSA)? It is a unique tax-advantaged account that can be used to pay for current or future healthcare expenses. When combined with a high deductible health plan (HDHP), it offers savings and tax advantages that a traditional health plan can’t duplicate.

  • HSAs are Tax-advantage savings account that can be used for qualified medical expenses
  • HSA funds that are not used will roll over from year to year
  • Accessibility to HSA funds through checks, debit card and online banking (coming soon)
  • HSAs can be used for an additional retirement savings account. After age 65, funds can be withdrawn for any purpose without penalty, but may be subject to income tax if not used for qualified medical expenses

There are several eligibility requirements that must be met to qualify for an Health Savings Account:

  • Have to be covered under a High Deductible Health Plan (HDHP)
  • Cannot be covered under any other Non-HDHP Plan – such as a Spouses insurance plan
  • Cannot be enrolled in Medicare
  • Cannot receive benefits from TRICARE (insurance for military members)
  • Cannot have received VA benefits within the last 3 months
  • Cannot be claimed as a dependent on another person’s tax return
  • Cannot be covered by a flexible spending account (FSA) or health reimbursement account (HRA)

Contact your local branch to open an account or learn more.

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