Everence Federal Credit Union
Quick Summary
- HSA savings account
The Verdict
Everence Federal Credit Union provides essential HSA features with a monthly fee of $3.00 and self-directed brokerage access, mutual fund investing, CD options, earning a 0/5.0 rating from HSA Orbit.
Everence Federal Credit Union health savings accounts (HSAs), administered by Everence Insurance Company, are designed to help you save and pay for qualified medical expenses. You can make tax-deductible contributions and withdraw money tax-free to pay for medical expenses. Your earnings are never taxed as long as you use the money in your account for qualified medical expenses. And, there’s no “use it or lose it” rule – the money in your account carries over from year to year.
Key Features
Banking & Access
Includes debit card and check-writing.
Investment Options
Offers self-directed brokerage, mutual fund investing and CDs.
Security & Insurance
Deposits are FDIC/NCUA insured for your protection.
Account Details
Requires $5 minimum balance. no account opening fees.
Fee Analysis
| Fee Type | This Provider | Industry Average | Verdict |
|---|---|---|---|
| Monthly Maintenance* | $3.00 | $0.69 | ABOVE AVG |
| Account Opening | $0.00 | $1.88 | EXCELLENT |
| Account Closing | $25.00 | $1.95 | ABOVE AVG |
* Account Opening Fee
Industry averages calculated from 853 providers in the HSA Orbit database.
Investment Options
Brokerage Access
Everence Federal Credit Union provides a self-directed brokerage window for investing your HSA funds in the broader market.
Mutual Fund Investing
Access mutual fund investments through your HSA with Everence Federal Credit Union.
- Minimum Threshold$1,000
- FeesA 0.125% quarterly investment asset management fee ($1.25 per $1,000 balance, $2.50 minimum) will be deducted from your mutual fund account, but there are no separate fees or sales charges for your investment transactions. The maximum annual fee is $500.
Interest Rates
Standard Rates
| Balance Range | APY |
|---|---|
| $0+ | 0.50% |
Last updated: 01-23-2025
Contact Information
Address
1110 N. Main St. Goshen, IN 46527 Customer Service Mailing Address
Customer Service
At a Glance
Pros & Cons
The Good
- •Self-directed brokerage access
- •FDIC/NCUA insured deposits
The Bad
- •Monthly fee of $3.00
- •$1,000 minimum to invest
- •No online banking
User Sentiment
Based on community feedback
Sentiment data coming soon
Compare with Related Providers
New Direction Trust Company
New Direction Trust Company is a trusted custodian for self-directed HSAs. An HSA with NDTCO can invest in a wide array of assets including private equity, real estate, private loans, precious metals and more. We are commonly used in a 2 HSA system (an HSA at a bank for convenience and an HSA at NDTCO) to maximize the tax benefits of this account type. Ask us how!
Read Review →Bankers Trust
Our tradition is one of strength, progress, local ownership, and support for individuals and the community - this is a tradition we pledge to maintain. If you've already entrusted us with your business, thank you. If you are considering Bankers Trust, we look forward to also providing you exemplary products, expertise, and a level of customer service that's second to none. You can be confident with your decision to do business with Bankers Trust. We can be reached using our toll-free line, our website, or our 24-hour, 7-day Easy Access automated line. However you reach us, we appreciate the opportunity to serve your financial needs.
Read Review →Flex HSA
Flexible Benefit Service Corporation (Flex) offers integrated HSAs for anyone with a qualified high deductible health plan. Since 1988, Flex has helped individuals and families save on healthcare expenses with our full portfolio of consumer-driven accounts. Our HSA simplifies the health plan experience for our account holders by giving them real-time resources to help them manage their money, including our easy-to-use Mobile App and a web site with videos, calculators, tutorials and more.
Read Review →Latest HSA Strategies
View all articles
Ineligible HSA Contribution? How to Fix It and Avoid Penalties
Made an ineligible HSA contribution? Learn how to fix excess contributions, avoid the 6% penalty, and handle Form 8889 before the tax deadline.
Why Does Tax Software Say My HSA Contribution Is Taxable?
Your tax software shows HSA contributions as taxable income? Learn why it happens, how to fix it in TurboTax and FreeTaxUSA, and avoid penalties.