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Unity Bank Review

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


Unity Bank first started operating in 1991 with headquarters in Clinton, New Jersey. Unity Bank manages $1 billion in assets and deposits totaling $1 billion, ranking it as a large bank. Unity Bank lacks premium access to customer service, with no options for live chat or all-day service. 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. With a commendable 4.2 stars out of 5, Unity Bank proves it is a solid contender in your bank search. Unity Bank offers a varied selection of product offerings, including savings accounts, checking accounts, money market accounts, CDs, mortgage products and credit cards. Unity Bank has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, Unity Bank's standard checking does not have a monthly fee. Banks that offer no-fee checking, in addition to a high savings APY are the best bet for gaining the highest income from your deposits while having convenient 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

Unity Bank features a savings rate of 0.05%, which is fair in comparison to the national average. Its one-year and five-year term lengths CDs earn at a rate of 0.50% and 1.75%, respectively, while its highest-yielding money market account earns at a rate of 0.10%. Given Unity Bank's noncompetitive savings rate, you should think about taking a look at other banks for savings accounts.

How Unity Bank's Savings Rates Compare

Unity Bank Savings 0.05 National Average 0.26 Compare Offers
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SmartAsset Average: 4.4

Unity Bank charges 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 simple account. For those who visit the ATM often, Unity Bank is ideal because it charges no out-of-network ATM fees. Unity Bank unfortunately does not reimburse out-of-network ATM charges, which means you'll be required to find a Unity Bank ATM or pay the withdrawal fee.

Monthly Fee $0 National Average: $3.21
Non-network ATM Fee $0 National Average: $1.20
Overdraft Fee N/A National Average: $35.00
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Service Quality

SmartAsset Average: 3.7

Unity Bank is a brick-and-mortar bank, with 20 total bank locations in New Jersey and Pennsylvania. With mobile and web apps, Unity Bank makes mobile banking straightforward, even on the go. It does not have all-day customer service with actual service representatives. You can get help during its customer service hours, which are Monday through Friday, 8:30 a.m. to 6:00 p.m. ET; Saturday, and 9:00 a.m. to 12:00 p.m. ET. Unity Bank receives moderate marks from users for its mobile app. The Unity Bank mobile app scored a 3.5 out of 5 (with 18 customer reviews on iOS and Android) compared to the national average of 3.8. Unity Bank's mobile app allows you to control your finances by monitoring current statements, transferring money as well as reaching support representatives. Unity Bank gets a superb consumer satisfaction rating due to comparatively few complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

Overall Mobile Rating 3.5/5
Consumer Satisfaction Rating 5.0/5
Online Banking Portal No
Live Chat No
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Financial Health

SmartAsset Average: 4.8

Unity Bank ranks as a large bank owning assets totaling $1 billion as well as deposits totaling $1 billion. Unity Bank's Texas Ratio is 2.54%, denoting that the bank is in terrific financial shape and far from failure. Additionally, Unity 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 Unity Bank to Other Competitive Offers

Products Offered

Product Current Terms and Rates Minimum Balance for APY
Savings Account 0.05% APY $100
Checking Account 0.05% APY $100
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 1.00% APY
  • 36 Month: 1.25% APY
  • 48 Month: 1.50% APY
  • 60 Month: 1.75% APY
$1000 for all terms
Money Market Account 0.1% APY $10000

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

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Find a Unity Bank Near Me

Unity Bank has 20 physical branches across the U.S.

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