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United Bank of Michigan Review

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


Established in 1903, United Bank of Michigan has $616 million in assets as well as $475 million in deposits, which makes it a medium-size bank. United Bank of Michigan, whose headquarters are in Grand Rapids, Michigan, lacks premium access to support representatives, 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 4.2 stars out of 5, United Bank of Michigan should be solidly in contention for your choice of bank. United Bank of Michigan has numerous product offerings, which include savings accounts, checking accounts, CDs, IRAs, brokerage accounts, mortgage products and credit cards. It has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, United Bank of Michigan's most basic checking account does not carry a monthly charge. Obtaining a checking account with no monthly fee, in addition to a savings account with a high interest rate at the same bank is your best option for getting the most income from your deposits alongside easy access to your money.

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

United Bank of Michigan has a savings rate of 0.10%, which is poor as compared against the national average. United Bank of Michigan's one-year and five-year term lengths CDs earn at a rate of 0.55% and 1.75%, respectively. Given its noncompetitive savings rate, you should consider looking at the competition to open savings accounts.

How United Bank of Michigan's Savings Rates Compare

United Bank of Michigan Savings 0.10 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

On average, United Bank of Michigan charges its customers extremely low fees in comparison to the national average. With no monthly fee, United Bank of Michigan is ideal for those who want a basic checking account. United Bank of Michigan doesn't reimburse out-of-network ATM fees, which means you will be required to locate a United Bank of Michigan ATM or pay the cost of withdrawal.

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

SmartAsset Average: 3.7

United Bank of Michigan is a brick-and-mortar bank, with 14 total bank locations in Michigan. With mobile and web apps, United Bank of Michigan makes mobile banking convenient, even on the go. United Bank of Michigan gets relatively high marks from customers for its online presence. The United Bank of Michigan mobile app scored a 4.0 out of 5 (with 64 customer reviews on iOS and Android) compared to the national average of 3.8. You can utilize United Bank of Michigan's mobile app to control your funds by checking account balances, transferring money as well as reaching customer service. United Bank of Michigan receives an exceptional consumer satisfaction rating based on relatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

Overall Mobile Rating 4.0/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

United Bank of Michigan is currently a medium-size bank and manages assets totaling $616 million and deposits totaling $475 million. United Bank of Michigan's Texas Ratio is 4.30%, signifying a negligible probability of failure. Additionally, United Bank of Michigan is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

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 United Bank of Michigan to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.1% APY $1
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.55% APY
  • 24 Month: 0.75% APY
  • 36 Month: 1.10% APY
  • 48 Month: 1.35% APY
  • 60 Month: 1.75% APY
$500 for all terms

United Bank of Michigan offers several deposit products like savings accounts, checking accounts and CDs to give you many options to manage your money. United Bank of Michigan does not have the best savings rate, which means you should consider 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 Michigan's CD rates are fair in comparison to the average U.S. bank.

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Find a United Bank of Michigan Near Me

United Bank of Michigan has 14 branches across the U.S.

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