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Welcome to LMCU's new Health Saving
Account Investment Platform

You can now invest a portion of your Health Savings Account (HSA) balance in stocks, bonds, mutual funds and other investment caliber products. With this new investment opportunity, you can reap the benefits of investing while saving for future medical expenses.


How it works:

This is a self-directed investment platform, similar to those offered as part of many employee 401k programs. You can invest any balance over $1,000 as you see fit. You'll be able to transfer money from your investment account back to your base HSA balance at any time, to pay for health care needs for you and your dependents.

Maximize your tax savings

  • As a tax-advantaged account, your contributions and gains are not taxable income
  • You select the investment products that fit you best
  • Choose from 20 mutual funds covering a variety of asset classes and recognized fund families

A single sign-on experience allows you to:

  • Access investment balances
  • View and print electronic statements
  • Rebalance, reallocate account holdings
  • View transaction and performance history
  • Choose mutual funds with no loads or commissions, and low expense ratios
  • Use online tools and resources to guide your investment selections

How to get started

Access your HSA account by logging in to your Online Banking account. Click on the Transfers tab, then HSA Investments, or choose the link under our Quick Links tab.

What will I see the first time I access my HSA investment account?

The first time you access your HSA investment account, you'll be directed to the enrollment screen. You'll need to complete a 3-step process to collect your pertinent information and account preferences.

  • From the enrollment screen, you'll need to make your initial investment elections. The money coming into your account will be allocated based on those elections.
  • If you don't establish any investment elections, they will default to a Money Market Account (MMA) until you choose to make a change and realign your holdings.
  • It's very important that you click on the Enroll Me button to complete the process.

If the Enroll Me button is not selected, your enrollment and investment choices will not be applied.

That's it! You can now begin investment of your HSA funds.



FAQ's

How do I access my HSA investment account?

    You can access your HSA account by logging into your Online Banking account. It is accessible from the Quick Links > HSA Investments and under the Transfers > HSA Investments tab.

What will I see the first time I access my HSA investment account?

    The first time you access your HSA investment account, you will be directed to an enrollment screen. Here you need to complete a 3-step process to collect pertinent information about you and your account preferences.

    Through this process, you will select your initial investment elections. Money that goes into the account will be allocated based upon the investment elections you set. If you do not establish investment elections, the money will default to a money market fund until you make your investment selections and realign your holdings. It is important to click on the "Enroll Me" button to complete this process. If the "Enroll Me" button is not clicked, your enrollment and elections will not be finalized.

What investment options are available on the HSA investment platform?

    A list of the mutual funds offered through the HSA investment account as well as information concerning the recent performance of those funds is found by accessing the based Mutual Fund Performance Dashboard link.

    The investment options are also available by logging in to your HSA investment account and selecting “Mutual Fund Information” under “Planning Tools” from the top navigation menu. For more in-depth information concerning the funds offered, you can find each fund’s prospectus, fact sheet and Morningstar® page by clicking the interactive links in the Mutual Fund Performance Dashboard.

Can Devenir or LMCU help me select the mutual funds I should invest in?

    The HSA investment account is self-directed. This means you choose the investments that are right for you. Research and tools are available through your HSA investment account and the Mutual Fund Performance Dashboard to help you make your investment selections. You may view the mutual funds’ prospectuses and fact sheets for important information regarding the objectives and risks associated with investing in the mutual funds.

    *If you work with a personal investment advisor, you may want to speak with them for advice on selecting funds for your HSA.

What other research tools are available to me in the HSA investment account?

    For more in-depth information concerning the mutual funds offered, you may access each fund’s prospectus, fact sheet, and Morningstar® page by clicking the links in the Mutual Fund Performance Dashboard. You can access your plan’s mutual fund performance page by logging in to your HSA investment account and selecting “Mutual Fund Information” under “Planning Tools” from the top navigation menu. The “HSA Asset Allocation Tool” is also available under “Planning Tools” to help allocate investments according to your risk tolerance and objectives for your HSA investment account.

What minimum investment amounts apply to the mutual funds available in my HSA investment account?

    There is no minimum investment amount that applies to the purchase of mutual funds through your HSA investment account.

How often can I make changes to my HSA investment account?

    You may make changes to your HSA investment account as often as you wish, but please be aware that some funds may charge short-term redemption fees or institute trading blocks to prevent market-timing practices. Please read the fund’s prospectus prior to making any changes to your account holdings.

    This information is also available through the HSA investment account website under the “My Investments” top navigation tab, and the “Realign HSA Investments,” dropdown link. If a short-term redemption fee or frequent trading policy applies to a particular fund, an icon will appear under the “Trading Policy” column on the “Realign HSA Investments” page of the HSA investment website. They may view the specific policy by hovering the mouse cursor over the icon.

If a new mutual fund is added within the same asset class, can I be invested in both funds?

    Yes. You may allocate money to any of the funds available in your HSA investment account. Which fund(s) you invest in and the amount you allocate to those funds is your decision.

How often should I be re-balancing my asset allocation in my HSA investment account?

    The HSA investment account is self-directed, and it is up to you to make the investment decisions that are right for you.

    Consider re-balancing your asset allocation as often as life changes, or changes to your investment objectives, risk tolerance, and/or other factors concerning your investments occur, re-balancing allows an investor to maintain an asset allocation consistent with their objectives. The “HSA Asset Allocation Tool” is available through the investment website and can help you determine an appropriate asset allocation after you answer a few simple questions. You may implement changes through the “Realign HSA Investments” link on the HSA investment website.

Where can I find a prospectus for the mutual funds available in my HSA investment account?

    If you would like more in depth information concerning the mutual funds offered, you may access each fund’s prospectus, fact sheet and Morningstar® page by clicking the links in the Mutual Fund Performance Dashboard.

    You can access your plan’s mutual fund performance link by logging in to your HSA investment account and selecting “Mutual Fund Information” under “Planning Tools” from the top navigation menu. You may also obtain a prospectus directly from the mutual fund company through the fund’s website.

Is money I invest in a HSA insured by the NCUA?

    No. Mutual funds are not insured by the NCUA, nor are they guaranteed by Lake Michigan Credit Union. As is the nature of investing, mutual funds may lose value, it is your responsibility to understand the risks of investing your HSA dollars.

What happens to my dividends or interest earned on my mutual fund investments?

    Dividend or interest income earned on your mutual fund investments are automatically reinvested back into your current holdings, based on your investment allocations.

How often does the HSA investment website update my account activity and investment balances?

    Investment balances and transaction history are updated each evening that the New York Stock Exchange is open for business.

How long does it take for my money to move from my Lake Michigan Credit Union HSA base balance to my HSA investment account?

    It can take up to 4 business days before you would see the money moved from your Lake Michigan Credit Union HSA base balance into your HSA investment account.

Why are the changes I made to my investment elections not reflected in my current asset allocation?

    Investment elections are allocations for new money directed to the HSA investment account. For example, money that is transferred from your HSA base balance. If you also wanted to change your current allocations, you will need to realign your account by logging in to your HSA investment account and selecting “Realign HSA Investments” under “My Investments” from the top navigation menu.

How do I update my address on my HSA investment account?

    You must make this change with Lake Michigan Credit Union to update the address on your HSA investment account. Lake Michigan Credit Union collects the address change information and passes it along to the record-keeper of the HSA investment account.

I am having trouble accessing the HSA investment account website. What can I do?

    If you cannot see links in the investment website or cannot open the investment website link, you may first want to try deleting temporary internet files and cookies. Another option is to try a different browser, for example, if Internet Explorer is not working, you may want to try Mozilla Firefox or Google Chrome. If those fixes do not work, you can contact Devenir at 952-446-7400 for further assistance.

Where can I find statements for my HSA investment account?

    You can login to your HSA Investment Account and select “Quarterly Statement” from the “Statements on Demand” top navigation tab. Or, you can enter a specific time period to view and print transactions.

Who is Devenir and what is their role?

    Devenir LLC, is a registered investment adviser that was chosen to research and select the HSA investment account mutual fund investment options.

Who is the first point of contact for questions regarding my HSA investment account?

    Lake Michigan Credit Union is the first point of contact for questions regarding your HSA investment account.

    If there are specific questions in the branch, all questions and concerns should be forwarded to the IRA/Special Accounts department. Call the IRA queue ext. 6335 or email IRA@lmcu.org

Can I close my HSA investment account on the HSA investment website?

    No, you can only close your HSA investment account through Lake Michigan Credit Union.

What additional fees apply to my HSA investment account?

    To curb market timing practices, certain funds may impose short term redemption fees or trading blocks. For information on whether a fund assesses short term redemption fees or blocks, as well as the specifics concerning those policies, please review the fund’s prospectus.

    You can also see these funds on the “Investment Summary” page under the “Account Summary” dropdown tab in your HSA investment account.

What commissions or loads apply to the mutual funds in my mutual fund HSA investment account?

    The mutual funds in this program are load-waived or no-load funds. Typical loads or commissions do not apply to these funds.

Where can I find out if the funds I choose are subject to redemption or frequent trading policies?

    Please refer to the fund’s prospectus for information concerning redemption or frequent trading policies. The prospectus can be found via link on the HSA Platform and by using the “Resources” link on the website. This information is also available through your HSA investment account under the “My Investments” top navigation tab, and the “Realign HSA Investments,” dropdown link.

    If a short-term redemption fee or frequent trading policy applies to a particular fund, an icon will appear under the “Trading Policy” column on the “Realign HSA Investments” page of the HSA investment website. You may view the specific policy by hovering the mouse cursor over the icon.

What is the expense ratio of the mutual funds in my HSA investment account?

    All mutual fund companies charge a fee to manage the mutual funds known as the expense ratio, which is already built into the fund’s performance. Expense ratios vary by fund. To find information about a fund’s expense ratio, please consult the Mutual Fund Performance Dashboard, the fund’s prospectus, and/or view the fund’s current Morningstar® page.