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United Community Bank Review

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United Community Bank Savings
0.30% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

United Community Bank was founded in 1965 with headquarters located in Chatham, Illinois. United Community Bank has $2 billion in assets along with deposits totaling $1 billion, which makes it a large bank. United Community Bank 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 in-person service, in addition to its online and mobile offerings. At a SmartAsset rating of 4.1 stars out of 5, United Community Bank should be solidly in contention for your choice of bank. United Community Bank has an array product offerings, including savings accounts, checking accounts, money market accounts, mortgage products and credit cards. It has a fair savings rate; you can find higher rates with other banks. If you're interested in stress-free personal checking, United Community Bank's standard checking account does not have a monthly fee. Banks that offer free checking as well as a high savings APY are the best bet for accruing the highest income from your deposits while having convenient access to your money.

How We Rated It

SmartAsset's Overall Rating

4.1/5
National Average: 4.1

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

Rates

2.9
SmartAsset Average: 3.5

United Community Bank has a savings rate of 0.30%, which is fair compared to the average U.S. bank. Its one-year CD has a rate of 0.85% and the five-year CD has a rate of 2.17%, while its highest-yielding money market account earns at a rate of 0.50%. Given its below average savings rate, you should think about other options to earn more on your deposits.

How United Community Bank's Savings Rates Compare

United Community Bank Savings 0.30 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

United Community Bank charges its customers extremely low fees in comparison to the national average. Its checking account has no monthly fee, rating it excellent for anyone looking for a hassle-free account. United Community Bank unfortunately does not refund out-of-network ATM charges, meaning you'll need to locate a United Community Bank ATM or eat 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

3.6
SmartAsset Average: 3.7

United Community Bank is a brick-and-mortar bank, with 40 total branches in Illinois. With mobile and web apps, United Community Bank makes account access easy, even on the go. United Community Bank receives inferior marks from customers for its online presence. Out of 370 customer reviews across Apple and Android platforms, the United Community Bank mobile app rates a 3.4 out of 5 (compared to the national average of 3.8). You can access United Community Bank's mobile app to control your bank accounts by checking monthly statements, sending and receiving money and accessing support representatives. United Community Bank gets an exceptional consumer satisfaction rating due to relatively few complaints reported to the Consumer Financial Protection Bureau (CFPB), a government-sponsored consumer protection agency.

Overall Mobile Rating 3.4/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

4.8
SmartAsset Average: 4.8

United Community Bank is currently a large bank with $2 billion in assets as well as $1 billion in deposits. United Community Bank has a strong Texas Ratio of 5.63%, denoting that the bank is in fine financial health and unlikely to fail. Additionally, United Community Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

5.63%
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 Community Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.3% APY $100
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 0.85% APY
  • 24 Month: 1.76% APY
  • 36 Month: 1.97% APY
  • 48 Month: 2.07% APY
  • 60 Month: 2.17% APY
$1000 for all terms
Money Market Accounts 0.35% APY 0.5% APY $10000 $15000

United Community Bank has several deposit products including savings accounts, checking accounts and money market accounts that provide you with many options to manage your money. United Community Bank does not have the best savings rate, which means you should think about looking 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 Community Bank's CD rates are fair in comparison to other U.S. banks.

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Find a United Community Bank Near Me

United Community Bank has 40 locations across the U.S.

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