YOUR RESERVES HARD AT WORK
Lots of Great Savings Options
Business Money Market
You work hard for your money, so we designed our OlyFed Business Money Market accounts to work hard for you. A Money Market account can put your money to work generating income with interest rates that are typically higher than a traditional savings account. Even better, your money can be withdrawn and deposited easily on an as-needed basis with few restrictions.
Health Savings Account (HSA)
If the only healthcare coverage for you or your employees is a high-deductible insurance policy, an OlyFed HSA lets you put money aside for tomorrow’s medical needs in tax-advantaged accounts.
Fund your HSA account without paying federal income taxes on the amount of your deposit, plus you enjoy tax-free withdrawals for qualified medical expenses. Those dollars are there to benefit you, a spouse or partner, or any of your qualifying dependents.
Best of all, there are no “use it or lose it” rules and OlyFed gives you easy access to your HSA funds via interest-bearing checking account and your own HSA debit card.
- Minimum $1 to open
- Contribute up to $3,500 per individual ($7,000 per family) per year
- Covers healthcare expenses for spouse/partner, dependents
- Access to OlyFed’s Health Savings Professional, Angelina Contreras-Duran, at (360) 754-3400.
Simplified Employee Pension (SEP) IRA
A Simplified Employee Pension (SEP) IRA from OlyFed is a personal time-travel machine for you and your employees, propelling you to a secure future. This tax-advantaged* retirement plan is a great long-term savings vehicle.
A SEP IRA is an attractive option for many business owners because it does not come with many of the start-up and operating costs of most conventional employer-sponsored retirement plans.
Employers often can set up a SEP IRA for their own retirement at higher levels than a traditional IRA allows. One major employee benefit: employer contributions are vested immediately.
To answer questions or set up your SEP IRA, contact OlyFed’s Certified Retirement Professional, Angelina Contreras-Duran, at (360) 754-3400.
Current IRA Rates & Disclosures
*Consult your tax advisor for specific details.
