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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

Find Out More
* 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.

IRS Scam


Throughout the year, scam artists pose as legitimate entities—such as the Internal Revenue Service (IRS), other government agencies, and financial institutions—in an attempt to defraud taxpayers. They employ sophisticated phishing campaigns to lure users to malicious sites or entice them to activate malware in infected email attachments. To protect sensitive data, credentials, and payment information, US-CERT and the IRS recommend taxpayers prepare for heightened risk this tax season and remain vigilant year-round.

Remain alert

Phishing attacks use email or malicious websites to solicit personal information by posing as a trustworthy organization. In many successful incidents, recipients are fooled into believing the phishing communication is from someone they trust. An actor may take advantage of knowledge gained from research and earlier attempts to masquerade as a legitimate source, including the look and feel of authentic communications. These targeted messages can trick any user into taking action that may compromise enterprise security.

Spot common elements of the phishing lifecycle

  • A Lure: enticing email content.
  • A Hook: an email-based exploit.
    • Email with embedded malicious content that is executed as a side effect of opening the email
    • Email with malicious attachments that are activated as a side effect of opening an attachment
    • Email with “clickable” URLs: the body of the email includes a link, which displays as a recognized, legitimate website, though the actual URL redirects the user to malicious content
  • A Catch: a transaction conducted by an actor following a successful attempt.
    • Unexplainable charges
    • Unexplainable password changes

Understand how the IRS communicates electronically with taxpayers

The IRS does not initiate contact with taxpayers by email, text messages or social media channels to request personal or financial information.

This includes requests for PIN numbers, passwords or similar access information for credit cards, banks or other financial accounts.

The official website of the IRS is www.irs.gov.

Take action to avoid becoming a victim

If you believe you might have revealed sensitive information about your organization or access credentials, report it to the appropriate contacts within the organization, including network administrators. They can be alert for any suspicious or unusual activity.

Watch for any unexplainable charges to your financial accounts. If you believe your accounts may be compromised, contact your financial institution immediately and close those accounts.

If you believe you might have revealed sensitive account information, immediately change the passwords you might have revealed. If you used the same password for multiple accounts, make sure to change the password for each account and do not use that password in the future.

Report suspicious phishing communications

Email: If you read an email claiming to be from the IRS, do not reply or click on attachments and/or links. Forward the email as-is to phishing@irs.gov (link sends e-mail), then delete the original email.

Website: If you find a website that claims to be the IRS and suspect it is fraudulent, send the URL of the suspicious site to phishing@irs.gov (link sends e-mail) with subject line, “Suspicious website”.

Text Message: If you receive a suspicious text message, do not reply or click on attachments and/or links. Forward the text as-is to 202-552-1226 (standard text rates apply), and then delete the original message (if you clicked on links in SMS and entered confidential information, visit the IRS’ identity protection page).

If you are a victim of any of the above scams involving IRS impersonation, please report to phishing@irs.gov (link sends e-mail), file a report with the Treasury Inspector General for Tax Administration (TIGTA), the Federal Trade Commission (FTC), and the police.

Source: [https://www.us-cert.gov/ncas/tips/ST15-001]