Loading
Tap on the profile icon to edit
your financial details.
Advertiser Disclosure

United Bank of Iowa Review

Your Details Done
by Updated
United Bank of Iowa Savings
0.50% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

United Bank of Iowa first started operating in 1932 and has its headquarters in Ida Grove, Iowa. It owns $1 billion in assets as well as deposits totaling $1 billion, classifying it as a large bank. United Bank of Iowa lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile offerings. With a score of 4.2 out of 5 stars, United Bank of Iowa should be solidly in contention for your choice of bank. United Bank of Iowa offers a variety of banking products, including savings accounts, checking accounts, CDs, IRAs, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. The bank's standard checking account features a $7.00 monthly fee, which places it at the higher end of monthly fees. Banks that offer free checking as well as a high interest rate savings account are the best option for accruing the highest income on your deposits while having convenient access to your funds.

How We Rated It

SmartAsset's Overall Rating

4.2/5
National Average: 4.1

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

Rates

4.5
SmartAsset Average: 3.5

United Bank of Iowa features a savings rate of 0.50%, which is poor compared to other U.S. banks. United Bank of Iowa's one-year CD earns at a rate of 1.46% and the five-year CD earns at a rate of 2.70%, while its highest-yielding money market account has an APY of 0.75%. Given United Bank of Iowa's poor savings rate, you should think about looking elsewhere to open savings accounts.

How United Bank of Iowa's Savings Rates Compare

United Bank of Iowa Savings 0.50 National Average 0.26 Compare Offers
Back to Overview

Fees

3.5
SmartAsset Average: 4.4

On average, United Bank of Iowa charges its customers high fees compared to other U.S. banks. Its checking account has a monthly fee of $7.00, making it fair for anyone looking for a simple account. Also, United Bank of Iowa has an overdraft fee of $30.00, which is significantly lower than that of other U.S. banks. United Bank of Iowa unfortunately does not refund out-of-network ATM fees, meaning you'll need to find a United Bank of Iowa ATM or accept the ATM charge.

Monthly Fee $7.00 National Average: $3.21
Non-network ATM Fee N/A National Average: $1.20
Overdraft Fee $30.00 National Average: $35.00
Back to Overview

Service Quality

4.0
SmartAsset Average: 3.7

United Bank of Iowa is a brick-and-mortar bank, with 28 total branches in Iowa. It also offers access to mobile and web apps for an easy mobile-banking experience. United Bank of Iowa gets fairly decent feedback from users for its online presence. The United Bank of Iowa mobile app rates a 4.1 out of 5 (out of 14 ratings on iOS and Android) compared to the national average of 3.8. United Bank of Iowa's mobile app allows you to control your finances by looking at account balances, sending and receiving money as well as reaching support representatives. United Bank of Iowa receives an outstanding consumer satisfaction score based on comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 4.1/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
Back to Overview

Financial Health

4.9
SmartAsset Average: 4.8

United Bank of Iowa ranks as a large bank with assets totaling $1 billion as well as deposits totaling $1 billion. It has an excellent Texas Ratio of 3.04%, signifying that United Bank of Iowa is in excellent financial health and improbable to fail. Additionally, United Bank of Iowa is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

3.04%
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.

Back to Overview

Compare United Bank of Iowa to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.5% APY $200
Checking Account 0.4% APY $2500
Certificates of Deposit
  • 12 Month: 1.46% APY
  • 36 Month: 2.10% APY
  • 48 Month: 2.55% APY
  • 60 Month: 2.70% APY
$10000 for all terms
Money Market Account 0.75% APY $10000

United Bank of Iowa has several deposit products including savings accounts, checking accounts and CDs that provide you with many options to manage your money. United Bank of Iowa does not have the best savings rate, which means you should think about taking a look 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. United Bank of Iowa's CD rates are fair compared to the national average.

Back to Overview

Find a United Bank of Iowa Near Me

United Bank of Iowa has 28 physical locations in the U.S.

Back to Overview
Save more with these rates that beat the National Average
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure
Unfortunately, we are currently unable to find savings account that fit your criteria. Please change your search criteria and try again.
Searching for accounts...
Ad Disclosure