Spotlight: GlenFed to Offer Medical Savings Accounts

Glendale Federal Bank, one of the largest thrifts in the U.S., said it will offer medical savings accounts. The Glendale-based thrift said it will be the first in the state to offer the accounts, which enable customers to set aside funds earmarked for health expenses.

Contributions are tax deductible. More financial institutions are expected to begin offering the accounts in a bid to attract customers.