Save for a rainy day or a special holiday with a Meridian Trust account to make reaching your savings goals easy.  You can choose either a primary share account or a customized share for your vacation or holiday shopping.

Primary Share Account
A primary share represents your member share in Meridian Trust and entitles you to all other services of the Credit Union including voting rights.  Only a $10 deposit is required to open a primary share, and balance of $100 or more earn quarterly dividends.

Customized Shares
You may choose to optimize your savings with a customized share account and enjoy all the advantages and conditions of a primary share with the added benefit of saving for a specific goal - like holiday shopping or a vacation.

Health Savings Accounts (HSAs)
The Credit Union is now offering Health Savings Accounts for your convenience.  The HSA offers a way to save for future medical expenses.  If you would like to open an HSA with Meridian Trust, please contact memberservicestaff@meridiantrustfcu.org.

Qualifying for an HSA

• Adults with HSA-qualified High Deductible Health Plans
• Individuals who have no other first-dollar medical coverage
• Adults not enrolled in Medicare
• Individuals who cannot be claimed as a dependent on someone else’s tax return

You, your employer, or both can make contributions to your HSA.  However, total contributions have annual limits.  Contributions that you make are deductible from your federal income tax return.  Once you are enrolled in Medicare, the contributions to your HSA must stop.  However, you can keep the money in your account and use if to pay for medical expenses tax-free.

View current Savings Rates.

High Deductible Health Plans (HDHP)s

Generally, this is health insurance that does not cover first dollar medical expenses.  Federal law requires that the health insurance deductible be at least:

$1,000  for self only coverage
$2,000  for family coverage

In addition, annual out-of-pocket expenses under the plan (including deductibles, co-pays, and co-insurance) cannot exceed:

$5,000  for self only coverage
$10,200  for family coverage

HSA Contributions

You can make a contribution to your HSA each year that you are eligible.  You can contribute up to the amount of your HDHP deductible but no more than:

$2,650*  for self only coverage
$5,250*  for family coverage

Individuals age 55 and older can also make additional "catch-up" contributions.  The maximum annual catch-up contribution is as follows:

2006 - $700
2007 - $800
2008 - $900
2009 and after $1,000

Using Your HSA

You can use the money in your HSA to pay for any "qualified medical expense" permitted under federal tax law.  This includes most medical care and services, and dental and vision care, and also includes over-the-counter drugs such as aspirin.

*these figures are adjusted annually for inflation.
Information adopted from the Department of the Treasury Health Savings Account brochure, April 2006