Health Savings Accounts

If you have a high deductible healthcare plan, a Health Savings Account may be for you.

Health Savings Accounts


A Health Savings Account, or HSA, is a medical savings account that allows you to set aside money to pay for health care expenses on a pre-tax basis. 

When you have a large, unanticipated medical expense, your insurance might not cover it unless you have already met your plan's deductible. If you’ve been paying into a Health Savings Account, however, you’ll have a store of tax-free money with which to pay your deductible. If you’ve already reached your deductible, these funds can be used to pay other out-of-pocket, health-related expenses.

Why have an HSA?

  • Flexibility to pay for current medical expenses or save for future needs
  • Tax-deductible contributions
  • Tax-deferred earnings
  • Tax-free distributions if used properly
  • Remains with you even with change of health coverage or employment

Call us at (207) 897-0900 for more information. Consult with your tax advisor for any tax-related questions.

Savings Rates

Account Type Dividend Rate Annual Percentage Yield Minimum Opening/Required Balance
Membership Share (Savings) 0.05% 0.05% $25.00
Coindexter Club (Youth Savings - Under 13 years of age) 0.05% 0.05% $5.00
Share Draft (Checking) 0.00% 0.00% $0.00
Clubs 0.05% 0.05% $0.00
Holiday Club* 0.05% 0.05% $0.00
*Withdrawals made more than 7 days after the account is opened and before the maturity date of October 18, 2021 are subject to a $5.00 penalty. Rates effective 4/1/2021.

Savings Rates effective 11/1/2020.

Money Management**

Rates Effective 11/1/2020

$2,000.00
Tier 1 0.03% 0.03% $0.00 to $1,999.99
Tier 2 0.15% 0.15% $2,000.00 to $20,000.00
Tier 3 0.20% 0.20% $20,000.01 plus
**Withdrawals must be $500.00 or more and limited to 3 withdrawals per month at no charge.
Excess withdrawal will be charged a $1.00 thereafter. Rates effective 4/1/2021.
IRA Share 0.05% 0.05% $25.00
Roth IRA Share 0.05% 0.05% $25.00
Coverdell Educational IRA Share 0.05% 0.05% $25.00
Health Savings*** $0.00
Tier 1 0.03% 0.03% $0.00 to $1,999.99
Tier 2 0.15% 0.15% $2,000.00 to $20,000.00
Tier 3 0.20% 0.20% $20,000.01 plus

*** Fees for stop payment, overdrawn/NSF share drafts, fee based ATM withdrawals, replacement cards and the like, may not be deducted or withdrawn from health savings accounts.  These fees shall be deducted from other accounts in which the health savings account owner has an interest.Minimum balance required to obtain the Annual Percentage Yield for the dividend period. All Rates are subject to change without notice. Truth in Savings Disclosure