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HSAs bring value to community says NCUAs Hood
ALEXANDRIA, Va. (3/23/09)--Credit unions that provide health savings accounts (HSAs) to businesses and individuals in their fields of membership offer an exceptional advantage, according to National Credit Union Administration Vice Chair Rodney Hood. “Credit unions must embrace a proactive strategy to stay competitive in the marketplace while continuing to focus on education for both the credit union employees and the consumer,” Hood told attendees of the Members Health Network first annual credit union HSA roundtable at Allegacy FCU, Winston-Salem, N.C. “Given the close relationship between credit unions and their members, you are well-poised to spread awareness of HSAs before other larger financial institutions.” The roundtable brought together credit union leaders to discuss the HSA market, focusing on the opportunities facing credit unions to expand member services while advancing business development through HSA programs. Credit unions offering HSAs help businesses with HSA plans, education and employee satisfaction, and provide employees and individuals increased membership to offer more products and services, Hood said. As more credit unions begin to offer HSAs, they will be better positioned to be a full-service provider for businesses, he added.


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