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Health Savings Account

Invest in your health

Healthcare can be costly and confusing. That’s why NW Preferred has worked tirelessly to find the most cost-effective way for members to save for healthcare expenses. Find out how NW Preferred can prepare you for the future.

Contact Us to Apply

Fantastic rates, multiple tax advantages

A Health Savings Account (HSA) is a special savings account used to pay for qualified medical expenses. You can use the money on a wide variety of medical needs, including prescriptions. With three tax advantages and one of the best rates on the market, we believe our HSA is truly smart way to save.

  • Tax-deductible contributions
  • Tax-free accumulation of interest
  • Tax-free distributions for qualified medical expenses


Open your HSA today

Double check our FAQs to make sure you qualify for an HSA. Then, feel free to apply online below.

  • Online Application
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  • Account Opening
Apply Now

Rates as high as

5.00 % APY*

All Rates


All rates are subject to change. Early withdrawal penalties may apply. For all other terms and fees for each account, contact your branch for the applicable disclosure statement(s). Any fees assessed could reduce earnings on this account. Other terms and conditions may apply, see Credit Union for full details.

In an effort to help mitigate the spread of the coronavirus (Covid-19) and to protect the health of our members and employees, NW Preferred will be closing access to our Stayton and Portland (Tigard) branch lobbies beginning Tuesday, March 24th. After Monday, we will be available to assist members with specific or unique needs, by appointment only, based on our available resources.

Remember you can easily access your NW Preferred accounts, 24 hours a day, via online or mobile banking. You can also locate nearby ATMs by using our mobile app or texting your location (address, intersection, or zip code) to 91989.

Most importantly, stay well.