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fiVISION develops HSA module
INDIANAPOLIS (8/3/09)--fiVISION has developed a Health Savings Account (HSA) opening module for credit unions. E FCU, Baton Rouge, La., launched the module--called autoENROLL--in June. With autoENROLL, applicants complete an application to open an account. Applications can be made in person, over the phone or online. Credit unions can choose to be integrated with their host processor on a real-time basis or use the features in a batch environment. With the application process, members and non-members can open an HSA in less than five minutes, fiVISION said. E FCU will use the module to market its HSA accounts to employers. Its initial rollout included moving all of its employees’ HSA accounts to the credit union from a local bank. “We would like to have five to 10 small employers signed up for our HSA product when open enrollment for most employers comes around later this year,” said Stephen Mathews, executive vice president of operations. “We currently have around 100 accounts but would like to increase this to several hundred by the end of the year. We also see HSA accounts as a tool that will assist us when we begin to offer member business services.” E FCU has $221.5 million in assets.


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