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Union Bank Review

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Union Bank Savings
0.10% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations


Union Bank first started operating in 1891 and is headquartered in Morrisville, Vermont. It manages assets of $745 million and deposits totaling $649 million, which makes it a medium-size bank. Union Bank lacks premium access to support representatives, with no live chat or all-day service options available. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile apps. SmartAsset experts rated the bank 3.9 out of 5 stars, indicating that Union Bank is a respectable bank that you should consider. Union Bank offers a full array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Union Bank has a fair savings rate; other popular banks have higher rates. The bank's standard checking product has a monthly fee of $5.00, although banks sometimes have requirements that allow you to waive the fee. Locating a checking account with no monthly fee and a savings account with a high interest rate at the same institution is your best option for returning the most income from your deposits while having easy access to your funds.

How We Rated It

SmartAsset's Overall Rating

National Average: 4.1

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


SmartAsset Average: 3.5

With a savings rate of 0.10%, Union Bank ranks poorly in comparison to the average U.S. bank. Union Bank's one-year CD has a rate of 0.30% and the five-year CD earns at a rate of 1.28%, while its highest-yielding money market account earns at a rate of 0.10%. Given its poor savings rate, you should think about choosing another bank to earn more on your deposits.

How Union Bank's Savings Rates Compare

Union Bank Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Union Bank has typically average fees as compared against the national average. At $5.00/month, Union Bank is less than the best product for those who want a simple banking experience. For those who will need cash in a pinch, it is ideal because it has no out-of-network ATM fees. Union Bank does not refund out-of-network ATM fees, which means you'll be required to search for a Union Bank ATM or eat the ATM charge.

Monthly Fee $5.00 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Union Bank is a brick-and-mortar bank, with 18 total branches in New Hampshire and Vermont. With mobile and web apps, Union Bank makes account access easy, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its hours, which are Monday through Thursday, 8:00 a.m. to 5:00 p.m. ET; Friday, and 8:00 a.m. to 6:00 p.m. ET. Union Bank gets moderate feedback from customers for its mobile banking services. The Union Bank mobile app rates a 3.9 out of 5 (out of 85 ratings on iOS and Android) compared to the national average of 3.8. You can use Union Bank's app to manage your funds by reviewing account balances, sending and receiving money as well as reaching customer service. Union Bank gets an outstanding consumer satisfaction score due to comparatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.9/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Union Bank ranks as a medium-size bank with $745 million in assets and deposits totaling $649 million. Union Bank's Texas Ratio is 2.43%, indicating a low likelihood of failure. Additionally, Union Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 Union Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $25
Checking Account 0.02% APY $300
Certificates of Deposit
  • 12 Month: 0.30% APY
  • 24 Month: 0.45% APY
  • 36 Month: 0.65% APY
  • 48 Month: 1.14% APY
  • 60 Month: 1.28% APY
$500 for all terms
Money Market Account 0.1% APY $10000

Union Bank has several deposit products including savings accounts, checking accounts, money market accounts and CDs that provide you with many options to manage your money. Union Bank 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. Union Bank's CD rates are fair as compared against the national average.

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Find a Union Bank Near Me

Union Bank has 18 locations in the U.S.

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