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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.

Social Engineering


What is a social engineering attack?

In a social engineering attack, an attacker uses human interaction (social skills) to obtain or compromise information about an organization or its computer systems. An attacker may seem unassuming and respectable, possibly claiming to be a new employee, repair person, or researcher and even offering credentials to support that identity. However, by asking questions, he or she may be able to piece together enough information to infiltrate an organization’s network. If an attacker is not able to gather enough information from one source, he or she may contact another source within the same organization and rely on the information from the first source to add to his or her credibility.

What is a phishing attack?

Phishing is a form of social engineering. Phishing attacks use email or malicious websites to solicit personal information by posing as a trustworthy organization. For example, an attacker may send email seemingly from a reputable credit card company or financial institution that requests account information, often suggesting that there is a problem. When users respond with the requested information, attackers can use it to gain access to the accounts.

Phishing attacks may also appear to come from other types of organizations, such as charities. Attackers often take advantage of current events and certain times of the year, such as

  • natural disasters (e.g., Hurricane Katrina, Indonesian tsunami)
  • epidemics and health scares (e.g., H1N1)
  • economic concerns (e.g., IRS scams)
  • major political elections
  • holidays

How do you avoid being a victim?

Be suspicious of unsolicited phone calls, visits, or email messages from individuals asking about employees or other internal information. If an unknown individual claims to be from a legitimate organization, try to verify his or her identity directly with the company.

Do not provide personal information or information about your organization, including its structure or networks, unless you are certain of a person’s authority to have the information.
Do not reveal personal or financial information in email, and do not respond to email solicitations for this information. This includes following links sent in email.

Don’t send sensitive information over the Internet before checking a website’s security.

Pay attention to the URL of a website. Malicious websites may look identical to a legitimate site, but the URL may use a variation in spelling or a different domain (e.g., .com vs. .net).

If you are unsure whether an email request is legitimate, try to verify it by contacting the company directly. Do not use contact information provided on a website connected to the request; instead, check previous statements for contact information. Information about known phishing attacks is also available online from groups such as the Anti-Phishing Working Group.

Install and maintain anti-virus software, firewalls, and email filters to reduce some of this traffic.

Take advantage of any anti-phishing features offered by your email client and web browser.

What do you do if you think you are a victim?

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

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

Immediately change any passwords you might have revealed. If you used the same password for multiple resources, make sure to change it for each account, and do not use that password in the future.

Watch for other signs of identity theft.

Consider reporting the attack to the police, and file a report with the Federal Trade Commission.

Source: [https://www.us-cert.gov/ncas/tips/ST04-014]