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Still time to fund 2016 HSA, IRA at LAFCU before April 18 tax-filing deadline

Michigan Business Network
April 14, 2017 10:30 AM

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Filing Deadline Tuesday April 18th 

LANSING, Mich. — Two types of savings accounts may be the solution for some last-minute tax savings for people who act quickly. LAFCU offers health savings accounts (HSAs) and IRAs that can be opened and funded before the tax-filing deadline of April 18 for possible savings on 2016 taxes.

“HSAs and IRAs offer tax benefits designed to encourage savings,” said Kelli Ellsworth Etchison, LAFCU senior vice president of marketing. “LAFCU is a not-for-profit organization that exists to serve its members. Based on this philosophy, LAFCU offers attractive credit union rates that help balances in HSAs and IRAs grow.”

Ellsworth Etchison said HSAs are relatively new, so many people may not be aware of the benefits.

An HSA is a tax-sheltered account set aside for qualified medical expenses. Balances carry over from year to year. HSAs are available to those who have an eligible high-deductible health insurance policy. Individuals can have multiple HSA accounts within designated limits.

LAFCU also offers traditional, Roth and Simplified Employee Pension (SEP) IRAs that offer tax advantages.

Anyone who lives, works, worships or attends school in the counties of Barry, Calhoun, Clinton, Eaton, Gratiot, Ingham, Ionia, Jackson, Livingston, Montcalm and Shiawassee can become a member and access LAFCU products.

For more information, contact LAFCU at 517.622.6600 or visit one of its nine branch offices in Greater Lansing and Owosso. Branches will be open Thursday, April 13, 9 a.m. to 5:30 p.m.; Saturday, April 15, 9 a.m. to noon; and Monday - Tuesday, April 17-18, 9 a.m. to 5:30 p.m. All branches will be closed Friday, April 14, in observance of Good Friday.

About LAFCU
Chartered in 1936, LAFCU is proud to be mid-Michigan’s credit union, serving the counties of Barry, Calhoun, Clinton, Eaton, Gratiot, Ingham, Ionia, Jackson, Livingston, Montcalm and Shiawassee. A recipient of the Dora Maxwell Social Responsibility Award, LAFCU takes pride in bringing value to the financial lives of its members, neighbors, families and community. Offering a comprehensive range of personal and business financial products, LAFCU provides services that include checking and savings accounts, auto and mortgage lending, business accounts and business lending. LAFCU serves nearly 60,000 members, holds more than $600 million in assets, and maintains nine locations throughout Greater Lansing and Shiawassee County. Anyone who lives, works, worships or attends school in its designated counties is eligible to join. Members enjoy benefits, such as lower interest rates on loans, higher yields on savings, insurance discounts, preferred seating for LAFCU-sponsored events, and access to 28,000 surcharge-free ATMs through the CO-OP ATM network. LAFCU supports and enriches mid-Michigan by donating funds and employee volunteer hours to many organizations and causes. To learn more about LAFCU, please call 517.622.6600 or find us online:
• Website: www.lafcu.com
• Facebook: www.facebook.com/LAFCU
• Twitter: @LAFCULansing

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