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Health Savings Account (HSA)

Just what the doctor ordered to deal with rising healthcare costs

Tax-free savings can help you cope with tomorrow’s emergencies

Here’s how a Health Savings Account could help you bank better:

  • Earn dividends on your deposits and use the money for health-related expenses
  • Tax-free deposits and withdrawals when you use the money for qualified medical expenses, such as doctor visits, dental visits, prescriptions, medical procedures and more
  • Open your account with as little as $1
  • Choose your own physicians and other providers with no restrictions
  • Access your money easily with a special HSA Debit Card linked directly to your account
  • Your balance carries over every year and funds move with you if you ever relocate
  • You're eligible if you're currently enrolled in a High-Deductible Health Plan (HDHP)
  • An HSA is eligible for an annual Loyalty Bonus payout, which has totaled $11.7 million paid to members since we started the program
  • id AllySM : Our identity theft recovery program is included free with this product

No one is immune from medical emergencies.

We share your concerns about the rising costs of health care. One accident or illness can devastate a family’s finances. At Coastal Credit Union, we can’t eliminate those medical bills, but we can make them a little easier to pay with a Health Savings Account.

We’ve made our tax-free account as simple to use as possible for people currently enrolled in an HDHP. Choose the portion of each paycheck you want deposited into your HSA, just as you designate withholdings for your retirement fund. Then withdraw the funds when you need them with our special debit card. The money can be used for a variety of services in North Carolina or elsewhere, ranging from doctor and dentist visits to prescriptions and long-term care.

Truthfully, it’s money we hope you’ll never need. But someday you might be glad it’s there.

Security Commitment
Security Commitment
Protect yourself from fraud and identity theft.

I can take care of all of my banking needs on MY schedule, not a retail bank's inconvenient schedule.
Dwight R.

Frequently Asked Questions

Frequently, we see that direct deposits may not credit your account due to an invalid account number. Be sure to verify with the issuer of the deposit that they are sending funds with your full 14 digit account number. You may also provide the issuer of the deposit a voided check.

You may also want to validate the ABA Routing Number, 253175494.

Transferring funds is easy and free! Simply log into Digital Banking and select Transfer Funds. Follow the displayed prompts. Transfers may take up to 3-5 business days to credit.

You may also transfer funds from your Coastal account to another financial institution via a wire transfer. To initiate a wire transfer, please contact our Call Center at (800)868-4262, ext 6784 or 919-420-8000, ext 6784 or visit the nearest branch location.

Federal Regulations require us to have limitations on the number and types of withdrawals allowed on a savings account. Your savings accounts are limited to 5 teller withdrawals (this includes cash and official checks) per month. Any transactions in excess of 5 are charged a fee for each withdrawal. As an alternative, you can avoid this fee by performing a cash withdraw from your savings account at an ATM. It's good to know that ATM withdrawals from savings accounts do not count against your 5 monthly teller withdrawals, or the 6 monthly electronic withdrawals that are allowed by Federal Regulation D. Transfers made through Telephone Banking, Digital Banking, or our Transaction Call Center count towards the 6 monthly transactions allowed by Federal Regulation D. Any ACH (electronic) debits from savings count towards the 6 as well. Also, if a savings account is used for overdraft protection, then overdraft transfers from savings will also count towards the six transactions per month. If you find yourself coming close or exceeding your limits, you may want to consider a checking account at Coastal.

To set up a direct debit or credit to your account you will want to provide the ABA/Routing Number 253175494. If you have a checking account, please use the 14 digit number on the bottom of your checks. If you want to debit or credit another account with your Coastal account, please give us a call at 800-868-4262 or 919-420-8000. For security reasons, we will mail you the account details to set up direct debit or credit to your account.

If wiring U.S. Dollars, please provide the issuing institution the following instructions:

Bank Name: Coastal Credit Union
ABA/Routing Number: 253175494
Credit Name: (Your name and address)
Account Number: (Your 14-digit Coastal account number)

Please consult your tax advisor for additional tax information.

Need help with Health Savings Account (HSA)?

Call 800-868-4262 to speak with a representative