Oak Brook, IL (PressExposure) May 17, 2008 -- On April 1, 2008, Sandy Spring Bank, headquartered in Olney, MD, launched HSA Manager, Millennium Trust Companyâs 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 Trustâs HSA Manager Platform. Clients can view their account through Metavanteâs 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. âHSA 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,â says Reggie Karas, SVP of Millennium Trust. âWe are experts in the HSA field and can help financial institutions add the investment component many HSA offerings are missing.â
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 Georgeâs 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.