Started in 1997, Union Bank & Trust has assets totaling $9 billion as well as $7 billion in deposits, ranking the institution as a large bank. Union Bank & Trust, whose headquarters are in Richmond, Virginia, lacks premium access to customer service, with no live chat or all-day service options available. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. At a SmartAsset rating of 4.3 out of 5 stars, Union Bank & Trust should be solidly in contention for your choice of bank. Union Bank & Trust offers a complete array of product offerings, including savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products and credit cards. Union Bank & Trust has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, Union Bank & Trust's most basic checking does not have a monthly fee. Institutions that offer no-fee checking as well as a high interest rate savings account are the best bet for gaining the highest income on your deposits while maintaining easy access to your money.
The overall rating is a weighted average of rates, fees, service quality and financial health.Read more
With a savings rate of 0.10%, Union Bank & Trust ranks poorly compared to the average U.S. bank. Its one-year CD earns at a rate of 0.55% and the five-year CD earns at a rate of 1.50%, while its highest-yielding money market account earns at a rate of 0.35%. Given its noncompetitive savings rate, you should think about other options to earn more on your deposits.
How Union Bank & Trust's Savings Rates Compare
On average, Union Bank & Trust charges customers extremely low fees in comparison to other U.S. banks. With no monthly fee, Union Bank & Trust's checking account is perfect for those who need a hassle-free banking experience. Union Bank & Trust unfortunately does not refund out-of-network ATM charges, meaning you'll be required to search for a Union Bank & Trust ATM or pay the fee.
Union Bank & Trust is a brick-and-mortar bank, with 152 total branches in North Carolina and Virginia. It also offers access to mobile and web apps for simple access and banking on the go. It does not offer all-day customer service with representatives. You can get help during its customer service hours, which are Monday through Friday, 8:00 a.m. to 8:00 p.m. ET; Saturday, and 9:00 a.m. to 5:00 p.m. ET. Union Bank & Trust receives high praise from customers for its mobile platform. Out of 5,000 ratings on Apple and Android platforms, the Union Bank & Trust mobile app rates a 4.6 out of 5 (compared to the national average of 3.8). Union Bank & Trust's mobile app allows you to control your finances by checking account balances, transferring funds and accessing support representatives. Union Bank & Trust receives an excellent consumer satisfaction rating due to comparatively few complaints brought to the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.
Union Bank & Trust is a large bank and has assets totaling $9 billion and deposits totaling $7 billion. Its Texas Ratio is 2.62%, suggesting a minute probability of failure. Additionally, Union 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
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.Back to Overview
Compare Union Bank & Trust to Other Competitive Offers
|Product||Current Terms and Rates||Minimum Balance for APY|
|Savings Account||0.1% APY||$1|
|Checking Account||0.03% APY||$2500|
|Certificates of Deposit|| ||$1000 for all terms|
|Money Market Account||0.3% APY||$10000|
Union Bank & Trust has several deposit products including savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. Union Bank & Trust does not have the best savings rate, which means you should consider 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 & Trust's CD rates are fair in comparison to other U.S. banks.Back to Overview
Find a Union Bank & Trust Near Me
Union Bank & Trust has 152 physical locations across the U.S.Back to Overview