Help protect yourself against rising medical costs.
Tax breaks help you set aside more money for health care.
Covers wide range of services
Contribute as much as you wish
Grow tax-free interest
Ensure your family can afford the best treatment possible
Health care costs continue to rise, putting a strain on family budgets. Even if you’re fortunate enough to avoid serious illness and injury, routine matters like eye exams and dental work can get expensive. At Michigan First, we offer Health Savings Accounts (HSAs) that help stretch your medical care dollars by providing tax advantages and competitive dividends.
- HSAs are for individuals and families with high-deductible medical plans
- Funds can be used for a wide range of medical, dental and eye care, as well as prescription costs
- Contribute as much as you want to annually, up to $3,550 for individuals and $7,100 for families
- Contributions are made with pre-tax dollars and dividends earned are not taxable
- All withdrawals are tax-free
- Unused funds can be rolled over to the next year with no penalty
Michigan First is a full-service credit union with branches that are easily accessible around Metro Detroit, Grand Rapids and mid-Michigan.
Michigan First Credit Union Offers Peace of Mind with $500,000 Coverage!
At Michigan First, we go the extra mile for our members by making sure your money is protected. Deposits at Michigan First Credit Union are federally insured up to $250,000 by the National Credit Union Administration (NCUA). To further protect your deposits, Michigan First provides additional coverage through Excess Share Insurance (ESI), creating a combination of federal and private share deposit insurance that protects your deposits for a total of $500,000 — including savings accounts, checking accounts, money market accounts, and certificate accounts.
This combination of NCUA and ESI coverage ensures that:
- All individual savings, checking and certificate accounts held by the same member are added together and insured up to $250,000 by the NCUA and an additional $250,000 by ESI.
- All joint accounts held by the same member are added together and insured up to $250,000 by the NCUA and an additional $250,000 by ESI.
- All IRA accounts held by the same person are added together and insured up to $250,000 by the NCUA and an additional $250,000 by ESI.
Both ESI and NCUA offer coverage payable upon failure and liquidation of the credit union. In order to continue providing the expanded protection, Michigan First adheres to strict underwriting criteria and reports monthly to ESI. If you have questions regarding this valuable member benefit, please call 800.664.3828.
