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The Union Bank Company Review

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The Union Bank Company Savings
0.01% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

The Union Bank Company started in 1904 with its headquarters in Columbus Grove, Ohio. The Union Bank Company manages assets of $779 million as well as $635 million in deposits, which makes it a medium-size bank. The Union Bank Company lacks premium access to support representatives, with no options for live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. We gave The Union Bank Company a 4.3 out of 5 stars, suggesting it is a great choice and should warrant serious consideration. The Union Bank Company has a complete suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, The Union Bank Company offers an option without a monthly fee. Locating a checking account with no monthly fee as well as a savings account with a high APY at the same institution is the best option for gaining the most income from your deposits while having easy access to your money.

How We Rated It

SmartAsset's Overall Rating

4.3/5
National Average: 4.1

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

Rates

3.2
SmartAsset Average: 3.5

The Union Bank Company features a savings rate of 0.01%, which is poor compared to the average U.S. bank. Its one-year and five-year term lengths CDs earn at a rate of 0.75% and 2.10%, respectively, while its highest-yielding money market account has an APY of 0.25%. Given its noncompetitive savings rate, you should consider looking at the competition to open savings accounts.

How The Union Bank Company's Savings Rates Compare

The Union Bank Company Savings 0.01 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

The Union Bank Company typically has extremely low fees compared to the average U.S. bank. With no monthly fee, The Union Bank Company is perfect for people who want a simple banking experience. The Union Bank Company does not refund out-of-network ATM fees, meaning you'll need to locate a The Union Bank Company ATM or eat the withdrawal fee.

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

4.0
SmartAsset Average: 3.7

The Union Bank Company is a brick-and-mortar bank, with 19 total branches in Ohio. With mobile and web apps, The Union Bank Company makes account access easy, even on the go. The Union Bank Company receives moderately positive feedback from customers for its online presence. The The Union Bank Company mobile app has been given a 4.1 out of 5 (out of 46 customer reviews on Apple and Android) compared to the national average of 3.8. You can access The Union Bank Company's mobile app to control your funds by looking at current statements, transferring funds and reaching support representatives. The Union Bank Company receives an exceptional consumer satisfaction score due to relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.9
SmartAsset Average: 4.8

The Union Bank Company ranks as a medium-size bank owning $779 million in assets as well as deposits totaling $635 million. The Union Bank Company has an excellent Texas Ratio of 3.77%, indicating that the bank is in terrific financial health and far from failure. Additionally, The Union Bank Company is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.77%
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 The Union Bank Company to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.01% APY $50
Checking Account 0.05% APY $1000
Certificates of Deposit
  • 12 Month: 0.75% APY
  • 24 Month: 0.75% APY
  • 36 Month: 1.50% APY
  • 48 Month: 1.75% APY
  • 60 Month: 2.10% APY
$500 for all terms
Money Market Account 0.15% APY $1

The Union Bank Company has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. The Union Bank Company does not have the best savings rate, which means you should think about looking elsewhere 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. The Union Bank Company's CD rates are fair in comparison to the national average.

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Find a The Union Bank Company Near Me

The Union Bank Company has 19 physical branches in the U.S.

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