BNY Mellon Corporation is the Custodian of assets of accountholders of health savings accounts administered by Sterling Health Services Inc. and is investment manager of assets in accordance with the Sterling Administrative Services Agreement. Cited as the safest bank in the United States by Global Finance magazine, BNY Mellon custodies more than $25 trillion globally, manages more than $1.2 trillion, and served as Master Custodian of the Troubled Asset Relief Fund (TARP) on behalf of the U.S. Department of the Treasury. The firm is among the largest corporate trustees in the world and traces its legacy to founding father Alexander Hamilton, who founded the Bank of New York in 1784.
Sterling provides administrative services, including preparation of IRS tax documents, managing transfer of funds to individual investment accounts, and accounting for all deposits, disbursements and use of debit cards.
Sterling contracts with several banks for commercial banking services. These include checking, savings, debit card processing, and internet banking. All of these commercial banks carry FDIC insurance and are highly rated by the Federal Government. We are proud partners with First Hawaiian Bank, Alex Brown and City National Bank.