CHICAGO – Alliant CU said this morning it signed with SaveDaily to offer its members additional investment choices for its Health Savings Accounts.
Like an IRA or 401k, an HSA provides a tax-favored vehicle that savers can use to earmark money for future needs. The funds offer an investing alternative to traditional checking, savings, and CDs.
“Our members are looking for more ways to save and grow their money,” said Laura Wallace, vice president retirement & investment services for the $8 billion credit union. “With the high cost of healthcare today, members who have Health Savings Accounts understand how important it is to make their money work for them, and this is a great way to do it.”
Credit unions adopting the SaveDaily platform can offer mutual fund investing to their members at low cost under their own brand. For one flat monthly charge, investors in mutual funds can have unlimited positions and unlimited transactions without transaction fees.