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Health Savings Accounts


A SouthWest Bank Health Savings Account (HSA) is a great way to save for medical expenses. An HSA account is similar to a personal savings account and is available to those with a qualified high deductible health plan (HDHP). The funds from an HSA account can be used for qualifying medical expenses such as doctor visits, prescriptions, vision care and dental work. HSA accounts at SouthWest Bank are subject to a $5 service charge.

  • Contributions in the account are tax-deductible provided you follow IRS guidelines.
  • Interest earned on an HSA is tax-free.
  • Withdrawals for qualified medical expenses are tax-exempt.
  • You will never lose your funds if you don’t use them.
  • Your funds are rolled over and kept in your account from year to year.
  • The account belongs to you, which means it can move with you.
  • Easy access to your funds with a SouthWest Bank ATM/Debit Card.

Health Savings

$0.00

Minimum to Open
  • Unlimited transactions and interest bearing* account.
  • $0.01 Minimum Daily Balance to Obtain APY
  • Interest Paid: Daily Balance Method**
  • $5 Monthly Service Charge

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* This account is an interest bearing account. The interest rate and annual percentage yield (APY) are included in the Rate Chart. The interest rate and APY may change. At our discretion, we may change the interest rate on the account daily. Interest begins to accrue no later than the business day we receive credit for the deposit of noncash items (for example, checks). Interest will be compounded monthly and will be credited to the account monthly. If the account is closed before interest is credited, you will not receive the accrued interest.

** This method applies a daily periodic rate to the collected principal each day your balance is above the stated account minimum. Interest begins to accrue no later than the business day the bank receives credit for your deposit.

Cybersecurity


What is cybersecurity?

It seems that everything relies on computers and the internet now — communication (email, cellphones), entertainment (digital cable, mp3s), transportation (car engine systems, airplane navigation), shopping (online stores, credit cards), medicine (equipment, medical records), and the list goes on. How much of your daily life relies on computers? How much of your personal information is stored either on your own computer or on someone else’s system? Cybersecurity involves protecting that information by preventing, detecting, and responding to attacks.

What are the risks?

There are many risks, some more serious than others. Among these dangers are viruses erasing your entire system, someone breaking into your system and altering files, someone using your computer to attack others, or someone stealing your credit card information and making unauthorized purchases. Unfortunately, there’s no 100% guarantee that even with the best precautions some of these things won’t happen to you, but there are steps you can take to minimize the chances.

What can you do?

The first step in protecting yourself is to recognize the risks and become familiar with some of the terminology associated with them. Hacker, attacker, or intruder – These terms are applied to the people who seek to exploit weaknesses in software and computer systems for their own gain. Although their intentions are sometimes fairly benign and motivated solely by curiosity, their actions are typically in violation of the intended use of the systems they are exploiting. The results can range from mere mischief (creating a virus with no intentionally negative impact) to malicious activity (stealing or altering information). Malicious code – Malicious code, sometimes called malware, is a broad category that includes any code that could be used to attack your computer. Malicious code can have the following characteristics:

  • It might require you to actually do something before it infects your computer. This action could be opening an email attachment or going to a particular web page.
  • Some forms propagate without user intervention and typically start by exploiting a software vulnerability. Once the victim computer has been infected, the malicious code will attempt to find and infect other computers. This code can also propagate via email, websites, or network-based software.
  • Some malicious code claims to be one thing while in fact doing something different behind the scenes. For example, a program that claims it will speed up your computer may actually be sending confidential information to a remote intruder.
  • Viruses and worms are examples of malicious code.

Vulnerability – In most cases, vulnerabilities are caused by programming errors in software. Attackers might be able to take advantage of these errors to infect your computer, so it is important to apply updates or patches that address known vulnerabilities For more information on cybersecurity tips, visit https://www.us-cert.gov/ncas/tips for more information about how to recognize and protect yourself from attacks.