DRAPER, Utah--(BUSINESS WIRE)--
HealthEquity, Inc. (NASDAQ: HQY) today announced that it had entered
into a partnership with M&T Bank (NYSE: MTB) to transition M&T Bank's
health savings account (HSA) portfolio to HealthEquity beginning March
11, 2016. The ongoing partnership also establishes HealthEquity as the
HSA custodian for future M&T Bank HSA business.
"We are thrilled to extend our world-class member services and
educational resources to M&T Bank's HSA customers," said HealthEquity's
SVP of Product and Corporate Development, Brad Bennion. "With experience
in several similar partnerships, we anticipate a smooth transition for
members who will be delighted with our enhanced offerings."
Since 2002, HealthEquity has focused solely on health accounts and, as
of October 31, 2015, manages more than 1.6 million HSAs with deposits
totaling over $2.7 billion. The company is distinguished by its engaging
education, robust investment platform and around-the-clock member
support.
"We truly value our HSA customers, and through HealthEquity they will
gain access to even more support, resources and value," stated John
Rumschik, Senior Vice President, M&T Bank.
For more information about the transition, visit www.HealthEquity.com/MTBank.
About HealthEquity
Founded in 2002, HealthEquity is one of the nation's oldest and largest
dedicated health savings custodians. The company's innovative technology
platform and tax-advantaged accounts help members build health savings,
while controlling health care costs. HealthEquity services more than 1.6
million health savings accounts for 80 health plan partners and
employees at more than 32,000 companies across the United States.
About M&T Bank
M&T Bank Corp. is a financial holding company headquartered in Buffalo,
New York. M&T's principal banking subsidiary, M&T Bank, operates banking
offices in New York, Maryland, New Jersey, Pennsylvania, Delaware,
Connecticut, Virginia, West Virginia and the District of Columbia.
Trust-related services are provided by M&T's Wilmington Trust-affiliated
companies and by M&T Bank.
View source version on businesswire.com: http://www.businesswire.com/news/home/20160121006180/en/
HealthEquity
Cody Dingus, 801-633-5466
Vice President of
Marketing
cdingus@healthequity.com
Source: HealthEquity, Inc.
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