Search Locations Contact Log in MENU Personal IRA, HSA, and CESA Accounts IRA, HSA, and CESA Accounts There’s more than one way to save for the future. Our retirement, health, and education savings accounts help you stretch each dollar further through special tax benefits. IRA and HSA Accounts Savings Accounts Money Markets and CDs 1st Insured Cash Sweep Checking Accounts 1st Rewards Traditional IRA Make pre-tax or tax-deductible contributions (conditions apply) Income tax applies on all withdrawals 10% federal penalty tax applies to all withdrawals before age 59½ Required minimum distributions apply starting at age 72 (Contact us for details) Best if you expect to be in the same or lower tax bracket when you retire Roth IRA Make after-tax contributions No income tax applies to withdrawals No penalties on early withdrawal of contributions, but a 10% federal penalty tax applies to withdrawals of earnings before age 59½ (Early CD withdrawal fees may apply. Contact us for details) No required minimum distributions Best if you expect to be in a higher tax bracket when you retire Health Savings Accounts If you have a high deductible health plan (HDHP), a Health Savings Account (HSA) can help you pay for certain medical expenses with pre-tax dollars. It’s a great tool for lowering your health care costs and planning for medical emergencies. Unlike Flexible Spending Accounts, your HSA rolls over from year to year, which lets you build up funds for future expenses. Contact your local branch to see if you qualify. Education Saving Account Coverdell ESAs are created on behalf of a child beneficiary who is under 18 or has special needs. These accounts earn tax-free interest, which make them an idea way to boost education savings. Withdrawals made for qualifying education expenses are also tax-free. Unlike 529 plans, the Coverdell ESA isn’t restricted to college expenses. Select K-12 items also qualify. Contact your local branch to learn more or set up an account. Get ready for all the great things to come with specialized savings accounts that help you reach your goals faster. Let us help you sort through your options. Contact Us Find a Local Branch 1st Security Bank is a bank that believes in you, our customer and friend. We want to be your banking partner and advisor. Let us know how we can help. CUSTOMER SERVICE (800) 683-0973 Mon-Fri: 9am - 5pm ROUTING NUMBER 325182289 NAME EMAIL PHONE MESSAGE Do not send personal information like your account, credit card or social security number or travel dates. Submit Facebook (Opens an external site in a new window) Instagram (Opens an external site in a new window) Twitter (Opens an external site in a new window) YouTube (Opens an external site in a new window) LinkedIn (Opens an external site in a new window) © 2021 1st Security Bank of Washington. All rights reserved. Accessibility | Sitemap