SaveDaily, provider of mutual fund investing platforms for financial institutions, today said that Alliant Credit Union of Chicago will use SaveDaily's investing platform to offer its members additional Health Savings Account (NASDAQ:HAS) choices, complementary to the union's existing suite of member savings options.
The SaveDaily platform gives financial institutions the option to offer mutual fund investing to their members for one low flat monthly charge. Investors in mutual funds are also offered unlimited positions and unlimited transactions without transaction fees, generating continued cost savings.
"Our members are looking for more ways to save and grow their money," Alliant Vice President Retirement & Investment Services Laura Wallace stated in the press release. "With the high cost of healthcare today, members who have Health Savings Accounts understand how important it is to make their money work for them, and this is a great way to do it."
SaveDaily explained that HSAs, which were created by a federal law designed to help Medicare recipients pay for their prescription drug coverage, are available to any adult with a high-deductible health insurance plan. Eligible individuals can create an HSA and can make tax-deductible contributions to the savings plan throughout their plan year.
Greg Vacca, president of SaveDaily, said the HSAs are an ideal fit for the company's mutual fund investing platform, comparable to some retirement plans, in certain aspects.
"Just like an IRA or 401k, which we also offer, the HSA provides another tax-favored vehicle that daily savers can use to earmark money for future needs," Vacca stated in the press release. "Ideally, these funds offer an investing alternative to traditional checking, savings, and CDs which provide minimal returns. And that's where SaveDaily comes in. With the ability to offer virtually any mutual fund available in the United States, the SaveDaily platform provides just about everyone with a low cost means to self-manage investing."
For more information visit savedaily.com
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