Health Savings Account

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BEWARE OF CALL SPOOFING SCAMS Our top priority is to keep our members’ information and accounts safe. We’d like you to be aware that scammers are using fake phone calls, text messages, and emails to pose as Florida West Coast Credit Union and trick you into sharing your banking information. Do not click any links or provide your personal banking information or your online banking information to any suspicious phone call, email or text. When in doubt, hang up and call us directly!

save for future medical expenses

A Health Savings Account is like a personal savings account but the money is used only for qualified healthcare expenses. Some other benefits of a HSA:

Allows members with a high deductible health plan to pay for current medical expenses and save for future health expenses on a tax-favored basis
Cannot be enrolled in Medicare to qualify for an HSA account
Withdrawals from HSA accounts are tax free if used for qualified medical expenses
Checks can be written against your HSA at the Credit Union anytime you need to pay for health expenses
No annual or administrative fees
Annual contribution limits are set by IRS
Funds in account can be rolled from one year to the next which means the money in the account can build over time with no limitation

open an account

direct deposit & payroll deduction

Almost every employee group, company and retirement provider participate in direct deposit. Allocate a portion of your check with payroll deduction or direct all of your paycheck to the Credit Union. Members can receive discounted loan rates on certain loan types by having full direct deposit. Payroll deduction is a convenient way to build up your savings or Holiday Club account. Instructions and forms for some of our different employee groups are available here.

Direct Deposit & Payroll Deduction Forms