Receive tax benefits & save on medical expenses
A Health Savings Account (HSA) enables you to take advantage of tax benefits while you save for medical expenses, if you are currently covered by a High-Deductible Health Insurance Policy (HDHP)*.
With a Team One Health Savings Account you can:
• Make tax-free withdrawals for payment of qualified medical expenses
• Conveniently make deposits to your account in person, by mail, by electronic transfer or through payroll deduction
• Earn interest on your account
• Make withdrawals by check
• View account balance online through Team One Online Banking
• Receive a detailed statement including deposits and withdrawals
• Contribute up to $3,250 for individual or $6,450 for family coverage per year
• Roll over your balance from year to year to accumulate your tax-free savings To open a HSA, or if you have any questions, Contact Us Today!
* HDHP Minimum deductible amounts for insurance are $1,250 for individual and $2,500 for family coverage. HDHP maximum out-of-pocket amounts are $6,350 for individual and $12,700 for family coverage.
Direct Deposit makes depositing hands free
With Direct Deposit, you arrange to send your entire net pay, Social Security or pension check directly to the credit union each payday. It's fast, safe and easy! Direct Deposit gives you the security of knowing your money is automatically deposited into your Team One account(s). It can even be automatically divided among different accounts based on your direction. You'll have immediate access to your money without waiting in line.
To begin enjoying the convenience of direct deposit, simply give your Payroll Department our Routing Transit Number, #272484470, and your Team One account number, or provide them with a voided check and tell them you would like Direct Deposit with Team One.
If you receive Social Security payments, you can sign up to have these payments direct deposited into your Team One account by visiting godirect.org or calling 1-800-772-1213.
Reminder: Please use your MICR number for any direct deposits or automatic debits.
Save Effortlessly with Payroll Deduction
With Payroll Deduction you authorize your employer to send part of your paycheck directly to the credit union each payday. Your deposit can be divided into any of your accounts or used to make loan payments at your direction. Payroll deduction encourages you to save effortlessly by having the funds deducted right out of your paycheck.
All you need to get started is to provide your payroll provider with Team One's routing/transit number (272484470) and your appropriate TOCU account number.
Disclosures
