Patelcorp Launches Health Savings Account Investment Service Using SaveDaily Platform

SEAL BEACH, Calif., March 21, 2012 /PRNewswire/ -- SaveDaily, Inc., (OTCBB: SAVY), a leading provider of low cost mutual fund investing platforms used by financial institutions, has announced today that Patelcorp, a division of Patelco Credit Union, will now offer its InvestDaily mutual fund investing program to members who have Health Savings Accounts. This addition to InvestDaily, which is built on the SaveDaily platform, boosts the organization's offerings of truly affordable self-directed mutual fund investing.

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"Our members are looking for better ways to save and grow their money," said Patelco Vice President Mark Hoaglin. "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 earn a higher return versus the rates offered on traditional HSA savings accounts."

HSAs were created by a federal law aimed at helping Medicare recipients pay for their prescription drug coverage.  According to the U.S. Department of the Treasury, any adult with a high-deductible health insurance plan is eligible to create an HSA and can make tax-deductible contributions to the savings plan throughout their plan year. This is a fast-growing segment of the financial services industry, with estimated balances in excess of $12 billion being held in health savings accounts in the US.

"Health Savings Accounts are a perfect fit for our mutual fund investing platform," stated Gregory Vacca, President of SaveDaily. "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. Ideally, these funds will grow at a better rate than traditional checking, savings, and CDs which provide only minimal returns. And that's where we come in. By offering virtually every mutual fund available in the United States, the SaveDaily platform provides an exciting new way for investors to achieve higher returns."

Credit unions, banks and other financial service providers adopting the SaveDaily platform can offer mutual fund investing to their members at extremely low cost under their own brand. For one low flat monthly charge, investors in mutual funds can have unlimited positions and unlimited transactions without transaction fees.

About SaveDaily
SaveDaily offers investment and record-keeping services to its intermediary partners, as well as directly to clients through a variety of white-labeled interfaces. SaveDaily owns its proprietary financial services platform which has been in production for about three years, helping financial intermediaries succeed in bringing suitable and affordable investment services to everyday savers and investors. SaveDaily, through its financial services partners, has the capability of making virtually all mutual funds available to its clients. SaveDaily conducts its business through its wholly owned subsidiary, SaveDaily.com, Inc., which is headquartered in Seal Beach, California and is a Registered Investment Advisor with the Securities and Exchange Commission. For more information, visit www.savedaily.com.

About Patelco Credit Union
Patelco Credit Union ranks among the largest credit unions in the nation and is the fifth largest in California, with more than $3.6 billion in assets and 270,000 members nationwide. Throughout its 75-year history, it has helped its members and their communities prosper through volunteer initiatives and personalized service that focuses on transparency, simplicity in banking, and garnering trust. Patelco is a federally insured, not-for-profit, full-service credit union that offers the same types of products as large banks. Membership in Patelco is free and open to everyone. 

Forward Looking Statements
This release contains forward-looking statements. Actual results may differ from those projected due to a number of risks and uncertainties, including, but not limited to the possibility that some or all of the matters and transactions considered by SaveDaily may not proceed as contemplated, and by all other matters specified in SaveDaily's filings with the Securities and Exchange Commission. These statements are made based upon current expectations that are subject to risk and uncertainty. SaveDaily does not undertake to update forward-looking statements in this news release to reflect actual results, changes in assumptions or changes in other factors affecting such forward-looking information. Assumptions and other information that could cause results to differ from those set forth in the forward-looking information can be found in the SaveDaily's filings with the Securities and Exchange Commission, including its recent periodic reports.

Company Contact:
Greg Vacca
SaveDaily Inc.
562.795.7500 ext 1020
[email protected]

Media Contact:
Krush Creative Group
Katherine Hills
949.753.9069
949.697.9715 (mobile)
[email protected]

Investor Relations Contact:
A.S. Austin Company, Inc.
858.537.7439
[email protected]

SOURCE SaveDaily, Inc.