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.
$0.00Minimum to Open
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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.
Why a Community Bank like SouthWest Bank?
Community banks like SouthWest Bank take in deposits, distribute loans and feed into a self-sustaining micro-economy by keeping funds in the communities we serve – Odessa, Midland and Lubbock. There are plenty of reasons why eating, dining and banking locally makes good economic sense.
It’s all part of a symbiotic relationship that community banks have with their communities. Funds taken in by the community are put to productive use by lending that money back into the West Texas economic ecosystem—to local small businesses and residents just like you.
When you deposit money at SouthWest Bank, those funds are used to support local businesses, homebuyers, and everyday consumers. And the proceeds from those businesses employ local residents, fund municipalities, and continue the cycle of locally based economic growth.
Think about what it means to bank locally. Help sustain our local communities tomorrow and for generations to come.
Stop by SouthWest Bank today to discuss your financial situation and learn how a community bank can help you realize your financial dreams—and contribute to a more vibrant and sustainable economy here at home!