Health Savings Account (HSA)

Invest in your health

Healthcare can be costly and confusing. That’s why NW Preferred has worked tirelessly to find the most cost-effective way for members to save for healthcare expenses.

Find out how NW Preferred can prepare you for the future.

Fantastic rates, multiple tax advantages

A health savings account (HSA) is a special savings account used to pay for qualified medical expenses. You can use the money on a wide variety of medical needs, including prescriptions. With three tax advantages and one of the best rates on the market, we believe our HSA is truly smart way to save.

Tax-deductible contributions

Tax-free accumulation of interest

Tax-free distributions for qualified medical expenses

Open your HSA today

Double check our FAQs to make sure you qualify for an HSA.

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Contact Us
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Account Opening

Rates as high as APY*

All Rates

Frequently Asked Questions

Yes! We offer a safe place for you to save your money, with deposits insured up to at least $250,000 per individual depositor by the NCUA, backed by the full faith of the United States Government.
You must have a high deductible health plan (HDHP) to open an HSA. Check with your insurance carrier or employer to see if you qualify for an HDHP. In addition;
- No other health coverage except what is permitted by IRS Publication 969
- Cannot be enrolled in Medicare
- Cannot be claimed as a dependent on someone else’s tax return
If you meet all the above criteria, you can apply for one of our HSAs right here online.

All rates are subject to change. Early withdrawal penalties may apply. For all other terms and fees for each account, contact your branch for the applicable disclosure statement(s). Any fees assessed could reduce earnings on this account. Other terms and conditions may apply, see Credit Union for full details.

Rates

Health Savings Account (HSA)

HSA⁸ Tier

Base Rate*

APY*

Rates effective as of: September 18, 2024

Rates and terms may vary based on a borrower’s credit qualifications. All loan rates are determined by Credit Union management and subject to change at any time. The Credit Union may offer other rates in the future. All services offered by the Credit Union shall be subject to applicable laws of the State of Oregon, federal laws and regulations, Credit Union bylaws and all regulations, rules and practices now or hereafter adopted by the Credit Union. All loans subject to credit approval.

*The share account Base Rates and Annual Percentage Yields shown are the prospective rates and yields the Credit Union anticipates for the applicable Dividend Periods.

8 Dividends will be compounded daily and credited monthly.

Example table

Column Title

Cell Value