WATERBURY, Conn., May 16 /PRNewswire-FirstCall/ -- HSA Bank(TM), a
division of Webster Bank, N.A., a subsidiary of Webster Financial Corporation
(NYSE: WBS), announced Friday that it had increased interest rates on its
FDIC-insured Health Savings Accounts (HSA). The annual percentage yield (APY)*
for balances of $15,000 or greater will see an increase from 3.82% to 4.00%#.
In addition to offering high interest rates, HSA Bank continues to charge
lower than industry average fees. HSA Bank charges $2.25 per month, and waives
the fee for balances of $3,000 or more. In comparison, two major competitors
charge monthly fees of $3.50 per month and $4.25 per month. HSA Bank has one
of the broadest product offerings and a dedicated HSA Client Assistance Center
to provide convenient customer service.
"Our accountholders have excellent earning potential with our competitive
interest rates and low fees. A look at the market shows that our interest
rates are higher than other major banks and our dedication to customer service
sets us apart," said Kirk Hoewisch, president of HSA Bank.
HSA Bank serves customers in every state in the nation and is one of the
first financial institutions nationwide to offer health savings accounts. HSA
Bank combines convenience, service and savings with low account maintenance
fees, high interest rates for investments, 24-hour account access online or
through an automated telephone system and outstanding personal service. For
more information about HSA Bank, visit the HSA Bank website at
http://www.hsabank.com.
* APY effective as of May 6, 2005 and subject to change. Fees could
reduce earnings.
# HSA Bank's tiers and APY's are:
$15,000 and greater 4.00%
$5,000 up to $15,000 3.04%
$500 up to $5,000 1.61%
Less than $500 0.00%
Webster Financial Corporation is the holding company for Webster Bank,
National Association and Webster Insurance. With $17.4 billion in assets,
Webster provides business and consumer banking, mortgage, insurance, financial
planning, trust and investment services through 153 banking offices, 291 ATMs,
telephone banking and the Internet. Webster Bank owns the asset-based lending
firm Webster Business Credit Corporation, the insurance premium finance
company Budget Installment Corp., Center Capital Corporation, an equipment
finance company headquartered in Farmington, Connecticut and provides health
savings account trustee and administrative services through HSA Bank, a
division of Webster Bank, Member FDIC.
For more information about Webster, including past press releases and the
latest annual report, visit the Webster website at
http://www.websteronline.com.
Media Contact: Investor Contact:
HSA Bank: Becky Seefeldt 920-803-4215 Terry Mangan 203-578-2318
bseefeldt@hsabank.com tmangan@websterbank.com
Webster: Meghan Thompson 203-578-2287
mthompson@websterbank.com
SOURCE Webster Financial Corporation
-0- 05/16/2005
/CONTACT: Media: Becky Seefeldt of HSA Bank, +1-920-803-4215,
bseefeldt@hsabank.com; or Meghan Thompson of Webster Bank, +1-203-578-2287,
mthompson@websterbank.com; Investor: Terry Mangan of Webster Bank,
+1-203-578-2318, tmangan@websterbank.com/
/Web site: http://www.websteronline.com
http://www.hsabank.com /
(WBS)
CO: HSA Bank; Webster Bank, N.A.; Webster Financial Corporation
ST: Connecticut
IN: FIN
SU:
AA
-- NYM232 --
0363 05/16/2005 14:19 EDT http://www.prnewswire.com