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First United Bank & Trust Review

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First United Bank & Trust Savings
0.12% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

First United Bank & Trust started in 1900 and its headquarters are located in Oakland, Maryland. First United Bank & Trust handles $1 billion in assets along with deposits totaling $1 billion, which makes it a medium-size bank. First United Bank & Trust has above-average customer service access with a live chat feature, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. We gave First United Bank & Trust a 3.8 stars out of 5, suggesting it is an average bank that leaves room for improvement. First United Bank & Trust has multiple product offerings, which include savings accounts, checking accounts, money market accounts, IRAs, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're looking for a checking account for everyday use, First United Bank & Trust's most basic checking does not have a monthly maintenance charge. Using an institution with no-fee checking and a high interest rate savings account is the best bet for gaining the most income from your deposits while maintaining convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

3.8/5
National Average: 4.1

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

Rates

2.8
SmartAsset Average: 3.5

First United Bank & Trust has a savings rate of 0.12%, which is poor compared to other U.S. banks. Its CDs feature a rate of 0.35% and 1.20% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account earns at an APY of 0.10%. Given First United Bank & Trust's noncompetitive savings rate, you should think about opting for higher earning savings accounts with other banks.

How First United Bank & Trust's Savings Rates Compare

First United Bank & Trust Savings 0.12 National Average 0.26 Compare Offers
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Fees

4.2
SmartAsset Average: 4.4

On average, First United Bank & Trust charges its customers average fees in comparison to the national average. First United Bank & Trust's checking account has no monthly fee, rating it excellent for anyone looking for a simple account. For those who will need cash in a pinch, it is perfect because it charges no out-of-network ATM fees. Additionally, at $42.00, it has a slightly greater overdraft fee compared to the average overdraft fee charged by U.S. banks. First United Bank & Trust unfortunately doesn't refund out-of-network ATM charges, which means you will need to locate a First United Bank & Trust ATM or accept the ATM charge.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee $42.00 National Average: $35.00
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Service Quality

3.9
SmartAsset Average: 3.7

First United Bank & Trust is a brick-and-mortar bank, with 24 total bank locations in West Virginia. With mobile and web apps, First United Bank & Trust makes mobile banking straightforward, even on the go. First United Bank & Trust also offers a live chat feature, giving customers an easy access point throughout the day. First United Bank & Trust's online and mobile banking platforms get mediocre marks from customers. With 120 ratings on both Apple and Android platforms, the First United Bank & Trust mobile app rates a 3.4 out of 5 (compared to the national average of 3.8). First United Bank & Trust's mobile app lets you manage your funds by looking at monthly statements, transferring money and reaching customer service. First United Bank & Trust receives an excellent consumer satisfaction rating based on relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government-backed consumer protection agency.

Overall Mobile Rating 3.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

4.4
SmartAsset Average: 4.8

First United Bank & Trust is currently a medium-size bank and handles assets totaling $1 billion as well as $1 billion in deposits. First United Bank & Trust's Texas Ratio is 13.33%, denoting that First United Bank & Trust is in good financial condition and improbable to fail. Additionally, First United Bank & Trust is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

13.33%
High Risk 75% 50% 20% 10% Low Risk

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

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Compare First United Bank & Trust to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.12% APY $50
Checking Account 0.03% APY $1
Certificates of Deposit
  • 12 Month: 0.35% APY
  • 24 Month: 0.50% APY
  • 36 Month: 0.55% APY
  • 48 Month: 0.75% APY
  • 60 Month: 1.20% APY
$1000 for all terms
Money Market Accounts 0.1% APY 0.1% APY $10000 $15000

First United Bank & Trust has several deposit products like savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. First United Bank & Trust does not have the best savings rate, which means you should think about other options for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. First United Bank & Trust's CD rates are fair as compared against the national average.

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Find a First United Bank & Trust Near Me

First United Bank & Trust has 24 locations in the U.S.

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