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4350 La Jolla Village Drive,
San Diego, CA 92122

UFB Direct serves customers nationwide who are looking for a way to get higher savings rates and lower fees on FDIC insured products by leveraging their Efficient Banking Platform ™. Skip the long lines at the branch, skip the traffic, do all of your banking by Internet, by telephone, and by mail – it saves the Bank money and those savings are passed on to you. In the end, you get one of the highest savings rates in the country, lower fees, better benefits, and you never have to go into a branch again!

Related Posts

Not FDIC Insured (Moderator Note: UFB Direct is FDIC insured)

According to the Google Advisor, the UFB Direct accounts are FDIC insured.  That is not true per the FDIC and even the fine print at the bottom of the bank's website. 

UFB? FDIC Insurance

I read the posts about FDIC insurance. I reviewed my bank statements on accounts I have at UFB. August and September were printed on Bank of the Internet USA bank statements. October is on BofI Federal Bank Statement. On those statements it states UFB Direct accounts powered by Bank of the Internet etc.

I talked to the FDIC and they said they would not have a list of internet subsidiary banks of BofI Federal....that you should contact them directly, which I did, and they state that both B of Internet and UFB Direct are subsidiarys on the same FDIC Charter.

They are not insured seperately, so the totality of deposits at the banks divisions are subject to the insurance of the one FDIC certificate; account holder is insured to $250k in entirety for accounts owned by BofI Federal; is how I am understanding this.

If anyone has more info, I am interested in knowing how FDIC is not informed of all operating divisions of a Bank? This is pretty unsettling to me!

Bad Service

I just closed my account here. It was very problematic to even log on to the account. Every time, I had to request an "access code" (because they didn't recognize my computer?). And transferring money in and out of the account was also very complex. Forget about getting Quicken access. The customer service people sound very unknowledgeable, too. I'd love to get the 1.3% interest (I'm getting 1.1% now at Captial One), but I just don't trust this place. 5 stars for interest rate, one start for everything else.

Avoid. Bank Pockets Accrued Interest Through Disclosure Loophole!

Had online MM account for about a year then moved funds to another bank via ACH transfer on the last day of the month. Bank refused to deposit ~$50 in interest accrued for the month because of the obscure provision in their disclosure agreement that I have to notify the bank that I'm about to remove all the funds from it.

Customer service calls didn't help. I contacted SEC, FDIC and BBB to complain.

Looks to me they just want to find a way to pocket customer's funds. Stay away!



Data for Q2 2014

Institution Health


Texas Ratio


The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of June 30, 2014 UFB Direct had $20.16 million in non-current loans and owned real-estate with $390.45 million in equity and loan loss allowances on hand to cover it. This gives UFB Direct a Texas Ratio of 5.16% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for UFB Direct decreased dramatically from 7.43% as of June 30, 2013 to 5.16% as of June 30, 2014, resulting in a positive change of 30.49%.This indicates that the balance sheet and financial strength for UFB Direct has improved dramatically in recent periods.

Deposit Growth


In the past year, UFB Direct has increased its total deposits by $934.24 million, resulting in 44.27% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth UFB Direct has shown is excellent.



Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. UFB Direct has $4.4 billion in assets with $390.45 million in equity, resulting in a capitalization level of 8.88%, which is average.

Institution Statistics

FDIC Certificate #35546
Year Established2000
Primary RegulatorOCC
Assets and Liabilities
Assets$4.40 billion
Loans$3.67 billion
Deposits$3.04 billion
Equity Capital$372.07 million
Loan Loss Allowance$18.37 million
Unbacked Noncurrent Loans$20.16 million
Real Estate Owned$0
Historic Data - June 2013
Assets$3.09 billion
Equity Capital$257.27 million
Loan Loss Allowance$14.18 million
Unbacked Noncurrent Loans$20.16 million
Real Estate Owned$1.87 million
Profit Margin - Quarterly
Return on Assets1.64%
Return on Equity18.96%
Interest Income$96.71 million
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UFB Direct Savings Account Rates

0.20%--Airline Rewards Savings

UFB Direct Money Market Rates

0.20%$5k-Money Market

UFB Direct is an Internet only bank and does not have branch locations. Its headquarters is located at 4350 La Jolla Village Drive, - San Diego, CA 92122