Research

We published our latest analysis of how health savings accounts are faring among credit unions, finding at the end of 2020 credit unions held about $1.97 billion in HSA deposits.

HSA investments have grown rapidly in recent years, as more account holders invest and existing investors grow their balances. At the end of 2020 nearly $24 billion dollars were invested, accounting for roughly 29% of total HSA assets (up from 24% at the end of 2019).

Devenir’s quarterly credit union HSA update finds almost $2 billion in HSA assets were held in credit unions as of 12/31/2020.

On February 23rd and 24th, Federal Reserve Chairman Jerome Powell testified before Congress that the Federal Reserve does not plan to change their current monetary policy in the near term. Since the onset of the pandemic, consumers have seen the effect of these decisions on their bank deposits. The average deposit rate, for an account holder with $1,000 in their health savings account (HSA) has dropped 10bps since 2019.

Devenir, a national leader in providing investment solutions for health savings accounts (HSAs), released the results of its 21st semi-annual health savings account survey and resulting research report. Devenir found that the number of HSAs has grown to now exceed 30 million, holding an estimated $82.2 billion in assets at the end of 2020.