Sandy Spring Bank, headquartered in Olney, MD, launched HSA Manager, Millennium Trust Company’s Health Savings Account (HSA) solution for financial institutions. HSA Manager allows financial institutions to connect a self-directed investment account to their own HSA deposit account, providing an integrated HSA for the client. Sandy Spring Bank will retain the deposit account balances while providing their clients with access to a wide-range of investments through Millennium Trust’s HSA Manager Platform. Clients can view their account through Metavante’s Personal Cash Manager (PCM), which allows clients to view balances, place trades and monitor all HSA activity on one integrated website.
Health Savings Account balances are growing and financial institutions, like Sandy Spring Bank, are using HSA Manager to retain balances while answering the call from their clients for investment opportunities. “HSA Manager provides banks, and other financial institutions, with a great opportunity to increase deposits while getting in on the ground floor of a revolutionary product,” says Reggie Karas, SVP of Millennium Trust. “We are experts in the HSA field and can help financial institutions add the investment component many HSA offerings are missing.”
About Millennium Trust Company
Millennium Trust Company leads the industry in administrative and custodial services. Millennium custodies alternative and traditional assets in Self-Directed IRAs and Solo 401(k)s, creates customized Automatic Rollover programs, provides integrated Health Savings Account solutions, designs unique trading platforms for Investment Advisors and supplies valued Personal Trust Administration.
About Sandy Spring Bank
With $3.2 billion in assets, Sandy Spring Bancorp is the holding company for Sandy Spring Bank and its principal subsidiaries, Sandy Spring Insurance Corporation, The Equipment Leasing Company and West Financial Services, Inc. Sandy Spring Bancorp is the second largest publicly traded banking company headquartered in Maryland. Sandy Spring is a community banking organization that focuses its lending and other services on businesses and consumers in the local market area. Independent and community-oriented, Sandy Spring Bank was founded in 1868 and offers a broad range of commercial banking, retail banking and trust services through 42 community offices in Anne Arundel, Carroll, Frederick, Howard, Montgomery, and Prince George’s counties in Maryland, and Fairfax and Loudoun counties in Virginia. Through its subsidiaries, Sandy Spring Bank also offers a comprehensive menu of leasing, insurance and investment management services. Visit http://www.sandyspringbank.com to locate an ATM near you or for more information about Sandy Spring Bank.
