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Union Savings Bank (OH) Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
Union Savings Bank Savings
0.03% APY

Overview

Our Rating: 4.1/5 How we calculated this rating

Union Savings Bank was founded in 1904 with its headquarters in Cincinnati, Ohio. Union Savings Bank handles $3 billion in assets and $2 billion in deposits, classifying it as a large bank. Union Savings Bank has above-average customer service access with all-day support available, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank, which means easier access to service representatives at a physical location, in addition to its online and mobile apps. Coming in at a commendable 4.1 stars out of 5, Union Savings Bank is a respectable bank that should be given a look. 

Union Savings Bank has a complete suite of banking products, including savings accounts, checking accounts, CDs, IRAs and mortgage products. It has a fair savings rate, which means other popular banks have higher rates. Perfect for basic banking needs, Union Savings Bank offers one without a monthly fee. Why keep checking and savings accounts with one bank? Convenient transferring between the two accounts translates to higher interest rates in your savings account with the versatility of spending from your checking.

Service Quality

Union Savings Bank is a brick-and-mortar bank, with 30 total bank locations in Indiana and Ohio. With mobile and web apps, Union Savings Bank makes account access straightforward, even on the go. It provides all-day access to representatives. 

You can use Union Savings Bank's app to control your finances by monitoring current statements, transferring funds as well as accessing support representatives. Union Savings Bank receives an excellent consumer satisfaction score based on relatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.15% APY $100 Compare Offers
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 0.70% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.25% APY
  • 60 Month: 0.15% APY
$500 for all tiers Compare Offers
Money Market Accounts 10K tier: 1.01% APY $5,000 Compare Offers
Checking Accounts 0.10% APY $300 Compare Offers

It offers several deposit products which include savings accounts, checking accounts and CDs, meaning you have many options to manage your money. It does not have the best savings rate, which means you should consider taking a look elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. Union Savings Bank's CD rates are competitive in comparison to the national average.

Rates

Union Savings Bank has a savings rate of 0.15%, which is fair compared to the average U.S. bank. Its one-year CD earns at a rate of 0.50% and the five-year CD earns at a rate of 0.15%, while its highest-yielding money market account has a rate of 1.01%. It has a fair savings rate, which means you can find higher rates with other banks. Consider higher earning savings accounts with other banks.

Compare Union Savings Bank to Other Competitive Offers

Fees

On average, Union Savings Bank charges its customers extremely low fees as compared against the national average. Union Savings Bank's checking account has no monthly fee, ranking it excellent for anyone looking for a simple account. For those who will need cash in a pinch, Union Savings Bank is perfect because it offers no ATM fees. 

Financial Health

Union Savings Bank ranks as a large bank and owns $3 billion in assets and $2 billion in deposits. Its Texas Ratio is 5.75%, indicating a tiny opportunity of failure. Additionally, Union Savings Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a Union Savings Bank Near Me

Union Savings Bank has 30 physical branches in the U.S.

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