QualityStocks News - SaveDaily to Supply Alliant Credit Union of Chicago with Tax-favorable Investing Platform

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Alliant Credit Union will utilize SaveDaily platform to bolster member Health Savings Account choices

...the SaveDaily platform provides just about everyone with a low cost means to self-manage investing.

QualityStocks would like to highlight SaveDaily, Inc., a publicly traded company that produces and supports proprietary record keeping and workflow software solutions in the financial services industry worldwide. It owns a proprietary financial services platform, which helps financial intermediaries to provide investment services to everyday savers and investors. The company deploys its platform for use in various account types, including qualified retirement plans, health savings investment accounts, safe harbor automatic individual retirement account rollovers, and the direct to consumer space.

In the company’s news yesterday,

SaveDaily said that Alliant Credit Union of Chicago will use SaveDaily’s investing platform to offer its members additional Health Savings Account (HAS) choices, complementary to the union’s existing suite of member savings options.

The SaveDaily platform gives financial institutions the option to offer mutual fund investing to their members for one low flat monthly charge. Investors in mutual funds are also offered unlimited positions and unlimited transactions without transaction fees, generating continued cost savings.

“Our members are looking for more ways to save and grow their money,” Alliant Vice President Retirement & Investment Services Laura Wallace stated in the press release. “With the high cost of healthcare today, members who have Health Savings Accounts understand how important it is to make their money work for them, and this is a great way to do it.”

SaveDaily explained that HSAs, which were created by a federal law designed to help Medicare recipients pay for their prescription drug coverage, are available to any adult with a high-deductible health insurance plan. Eligible individuals can create an HSA and can make tax-deductible contributions to the savings plan throughout their plan year.

Greg Vacca, president of SaveDaily, said the HSAs are an ideal fit for the company’s mutual fund investing platform, comparable to some retirement plans, in certain aspects.

“Just like an IRA or 401k, which we also offer, the HSA provides another tax-favored vehicle that daily savers can use to earmark money for future needs,” Vacca stated in the press release. “Ideally, these funds offer an investing alternative to traditional checking, savings, and CDs which provide minimal returns. And that’s where SaveDaily comes in. With the ability to offer virtually any mutual fund available in the United States, the SaveDaily platform provides just about everyone with a low cost means to self-manage investing.”

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Forward-Looking Statement:

This release may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All forward-looking statements are inherently uncertain as they are based on current expectations and assumptions concerning future events or future performance of the company. Readers are cautioned not to place undue reliance on these forward-looking statements, which are only predictions and speak only as of the date hereof. Risks and uncertainties applicable to the company and its business could cause the company's actual results to differ materially from those indicated in any forward-looking statements.

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