Deal of the Day: Empower Federal Credit Union Savings Account at 1.20% APY

By Gregg Gethard October 18, 2013 Savings Accounts 101

Getting sick is an unfortunate part of life. Almost everyone will face a large doctor’s office or hospital bill at some point. Perhaps you have an insurance plan with a high deductible that you’d have to pay off before any insurance benefits kick in. This could result in quite a bit of financial hardship at a time when you’re already stressed out.

In order to counter this, many banks offer health savings accounts, which allow individuals and families to put money aside in a tax-deferred product in order to pay for future medical costs. Empower Federal Credit Union of Syracuse, N.Y., offers its members a health savings account with a 1.20% APY, allowing money to grow into an amount that could help pay off a major bill.

Empower Federal Credit Union Savings Account: Terms and Conditions

Members enrolling in this plan must be covered exclusively by a high-deductible health plan and cannot be covered by another health plan. Savers also cannot be enrolled in Medicare or be claimed as a dependent on another person’s tax return.

About Empower Federal Credit Union

Membership is open to anyone who lives, works, worships or attends school in the cities of Buffalo, Binghamton, Syracuse, Utica and Elmira, N.Y. Residents, workers and employees in the towns and villages of Geddes, Cheektowga, Union, Liverpool, New York Mills, Elmira Heights and Horseheads can also join. Eligibility is also extended to residents of Oswego and Montgomery counties.

Save for Your Future

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Other Terms and Conditions may apply. Additionally, interest rates are based on the institution’s online published rates and may have changed since this offer was posted. Please contact the financial institution for the most recent rate updates and to review the terms of the offer.