• Earnings are tax-deferred and remain tax-free if they are used to pay for qualified medical expenses
  • Unused HSA funds grow annually at our competitive, tiered rates, allowing you to save for future expenses
  • Dividends are compounded daily and posted monthly
  • Includes an Empower HSA debit card and checks to access funds conveniently
  • No administrative or annual fees
  • Must be covered exclusively by a High-Deductible Health Plan (HDHP)
  • Cannot be covered by another health plan
  • Cannot be enrolled in Medicare or be claimed as a dependent on another person's tax return
  • Deductibles and contribution limits are revised each year by the IRS to reflect cost-of-living increases
  • Contributions for a particular tax year can be made as late as the tax return deadline, generally April 15 of the following year unless noted otherwise
  • In addition to the standard Health Savings Account contribution limits, if you have reached age 55 before the close of a taxable year, you may contribute an additional amount, known as a "catch-up contribution". Contacting your tax advisor or see IRS guidelines for specific details.
  • Set up Direct Deposit to simplify the process
  • Personal contributions are tax-deductible
  • Contribution made through payroll deduction reduces federal income tax liability
  • Earnings (dividends) are tax-deferred and tax-free if used for qualified medical expenses
  • Distributions are tax-free when used for qualified medical expenses
  • Consult your tax advisor to determine if this account is right for you

What do you want out of life?

Empower Federal Credit Union welcomes employees of many companies, immediate family/household members of employees and retirees, as well as our outreach to underserved communities to enjoy personal and business banking solutions including auto loans, mortgages*, credit cards and more. Bank online, in any central NY branch, or call us at 315.477.2200.

* Home mortgages available in FL, PA, CT, NY, NC, SC and TN.

Empower Federal Credit Union rated 5-Stars by Bauer in 2023  Best Companies to work for New York 2023 Logo2023 Winner of Best Companies to Work for in New York State