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United Savings Bank Review

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United Savings Bank Savings
0.05% APY
1. Overview 2. How We Rated It 3. Products Offered 4. Branch Locations

Overview

Established in 1923, United Savings Bank has $342 million in assets as well as deposits totaling $254 million, making the institution a small bank. United Savings Bank, whose headquarters are in Philadelphia, Pennsylvania, 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 in-person service, in addition to its online and mobile offerings. Coming in at a commendable 4.1 out of 5 stars, United Savings Bank proves it is a respectable bank that deserves your consideration. United Savings Bank offers a full selection of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. It has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, United Savings Bank offers an option without a maintenance or monthly fee. Institutions that offer no-fee checking as well as a high savings APY are your best bet for accruing the most income from your deposits while having convenient access to your funds.

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

With a savings rate of 0.05%, United Savings Bank ranks poorly as compared against the national average. United Savings Bank's CD rates are 0.40% and 2.25% for the one-year and five-year term lengths, respectively, while its highest-yielding money market account has an APY of 0.15%. Given its below average savings rate, you should think about looking at the competition to open savings accounts.

How United Savings Bank's Savings Rates Compare

United Savings Bank Savings 0.05 National Average 0.26 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

United Savings Bank charges customers extremely low fees compared to the average U.S. bank. United Savings Bank's checking account has no monthly fee, making it excellent for anyone looking for a simple account. United Savings Bank does not reimburse out-of-network ATM charges, meaning you will have to find a United Savings 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 Savings Bank is a brick-and-mortar bank, with six total branches in Pennsylvania. It also offers access to mobile and web apps for simple access and banking on the go. United Savings Bank's online and mobile banking platforms receive mediocre feedback from users. The United Savings Bank mobile app scored a 3.4 out of 5 (out of 4,900 ratings on Apple and Android) compared to the national average of 3.8. You can utilize United Savings Bank's app to manage your finances by reviewing current statements, sending and receiving funds and reaching customer service. United Savings Bank gets an outstanding consumer satisfaction score due to relatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government agency that protects consumers in the financial sector.

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

5.0
SmartAsset Average: 4.8

United Savings Bank ranks as a small bank and manages assets totaling $342 million as well as $254 million in deposits. Its Texas Ratio is 0.04%, denoting that United Savings Bank is in outstanding financial well-being and improbable to fail. Additionally, United Savings Bank 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.

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Compare United Savings Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $250
Checking Account 0.1% APY $1000
Certificates of Deposit
  • 12 Month: 0.40% APY
  • 24 Month: 1.85% APY
  • 36 Month: 2.05% APY
  • 48 Month: 2.15% APY
  • 60 Month: 2.25% APY
$1000 for all terms
Money Market Account 0.15% APY $2500

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

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Find a United Savings Bank Near Me

United Savings Bank has six physical locations in the U.S.

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