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

Overview

United Southern Bank was founded in 1937 with headquarters in Umatilla, Florida. It manages assets of $507 million and deposits totaling $457 million, classifying it as a medium-size bank. United Southern Bank has above-average access to customer service with a live chat feature, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. We gave United Southern Bank a 4.1 stars out of 5, indicating that it is a good bank that warrants your consideration. United Southern Bank provides customers with a full suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. United Southern Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, United Southern Bank offers an option without a monthly fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is the best bet for returning the most income on your deposits while maintaining 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

3.2
SmartAsset Average: 3.5

United Southern Bank features a savings rate of 0.05%, which is fair compared to the average U.S. bank. United Southern Bank's one-year CD earns at a rate of 0.20% and the five-year CD has a rate of 0.40%, while its highest-yielding money market account has an APY of 0.20%. Given United Southern Bank's noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.

How United Southern Bank's Savings Rates Compare

United Southern Bank Savings 0.05 National Average 0.09 Compare Offers
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Fees

5.0
SmartAsset Average: 4.4

United Southern Bank has typically extremely low fees in comparison to the average U.S. bank. United Southern Bank's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. United Southern Bank unfortunately does not reimburse out-of-network ATM fees, which means you will need to search for a United Southern 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

4.0
SmartAsset Average: 3.7

United Southern Bank is a brick-and-mortar bank, with 13 total branches. It also offers access to mobile and web apps for straightforward access and banking on the go. It does not offer all-day customer service with representatives. You can get help during its hours, which are Monday through Thursday, 8:00 a.m. to 5:00 p.m. ET; Friday, and 8:00 a.m. to 6:00 p.m. ET. Additionally, United Southern Bank offers a live chat feature, which may provide helpful service without getting on the phone. United Southern Bank gets average marks from customers for its online presence. With 51 customer reviews on both Apple and Android platforms, the United Southern Bank mobile app rates a 3.6 out of 5 (compared to the national average of 3.8). You can utilize United Southern Bank's mobile app to control your accounts by checking monthly statements, transferring funds as well as accessing customer service. United Southern Bank receives a superb consumer satisfaction rating due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.6/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat Yes
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Financial Health

4.3
SmartAsset Average: 4.8

United Southern Bank is currently a medium-size bank owning assets totaling $507 million as well as deposits totaling $457 million. Its Texas Ratio is 14.93%, indicating that the bank is in good financial condition and unlikely to fail. Additionally, United Southern Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

14.93%
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 Southern Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $10
Checking Account 0.05% APY $1
Certificates of Deposit
  • 12 Month: 0.20% APY
  • 24 Month: 0.25% APY
  • 36 Month: 0.35% APY
  • 48 Month: 0.35% APY
  • 60 Month: 0.40% APY
$1000 for all terms
Money Market Accounts 0.05% APY 0.05% APY $10000 $15000

United Southern Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. United Southern 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 Southern Bank's CD rates are fair in comparison to the average U.S. bank.

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Find a United Southern Bank Near Me

United Southern Bank has 13 physical branches in the U.S.

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