Average User Rating:
4 star rating based on 1 review.

Union Center National Bank

2003 Morris Avenue
Union, NJ 07083
(1-800-862-3683)
www.ucnb.com

OverView
Rates
Health
Reviews

Union Center National Bank is headquartered in Union and is the 19^st largest bank in the state of New Jersey. It is also the 481^st largest bank in the nation. It was established in 1923 and as of September of 2011, it had grown to 161 employees at 11 locations. Union Center National Bank has a 4-star health rating.

Union Center National Bank Drop Rate From 2.75% To 2.50% (Forum) - 11/15/2011

NJ local bank

Reward Checking Account at Union Center National Bank in New Jersey - Local Only - 8/13/2009

Union Center National Bank is offering a reward checking account called Super Heart Smart Checking. The account has the following rates and features if certain monthly requirements are met:4.00% APY on balances up to $30,0000.50% APY on portion of...

Report an Issue

See Rates for: Checking | Savings | Money Market | CD

Union Center National Bank Checking Account Rates

Apy	Min	Max	Product
2.50%	-	$30k	Super Heart Smart Checking
0.30%	$300k	-	Max NOW Checking

Union Center National Bank Savings Account Rates

Apy	Min	Max	Product
0.57%	$300k	-	Max Plus Savings
0.23%	$300k	-	Statement Savings

Union Center National Bank Money Market Rates

Apy	Min	Max	Product
0.50%	$300k	-	ULTIMATE Money Market
0.50%	$300k	-	Business ULTIMATE Money Market
0.40%	$300k	-	Money Market

Union Center National Bank CD Rates

Apy	Min	Max	Product
1.67%	$1k	-	36 Month CD
1.18%	$1k	-	24 Month CD
0.93%	$1k	-	18 Month CD
0.83%	$1k	-	12 Month CD
0.55%	$1k	-	6 Month CD

Rates updated: 2/11/2012

Data for Q3 2011

Institution Statistics

Union Center National Bank
FDIC Certificate #	6431
BankRate Report	View
Year Established	1923
Employees	161
Primary Regulator	OCC
Assets and Liabilities
Assets	$1.38 billion
Loans	$712.07 million
Deposits	$1.06 billion
Equity Capital	$136.72 million
Loan Loss Allowance	$9.54 million
Unbacked Noncurrent Loans	$14.53 million
Historic Data - September 2010
Assets	$1.22 billion
Equity Capital	$122.73 million
Loan Loss Allowance	$8.77 million
Unbacked Noncurrent Loans	$11.74 million
Real Estate Owned	$1.93 million
Profit Margin - Quarterly
Net Interest Margin	3.33%
Return on Assets	1.09%
Return on Equity	10.87%
Interest Income	$38.66 million

Institution Health

Overall Score:

4 out of 5

Texas Ratio
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of September 30, 2011 Union Center National Bank had $14.53 million in non-current loans and owned real-estate with $146.25 million in equity and loan loss allowances on hand to cover it. This gives Union Center National Bank a Texas Ratio of 9.94% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend
The Texas Ratio for Union Center National Bank held steady from 10.39% as of September 30, 2010 to 9.94% as of September 30, 2011, resulting in a positive change of 4.39%.This indicates that the balance sheet and financial strength for Union Center National Bank has held steady in recent periods.
Deposit Growth
In the past year, Union Center National Bank has increased its total deposits by $221.06 million, resulting in 26.28% 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 Union Center National Bank has shown is excellent.
Capitalization
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. Union Center National Bank has $1.38 billion in assets with $146.25 million in equity, resulting in a capitalization level of 10.63%, which is above average.

Nice And Friendly
4 stars

- iadlowed - Thursday, November 17, 2011 - 9:26 PM

This is a nice and friendly community bank although their employees sometimes can be slightly incompetent. I am saying this from the point of view of a person living temporarily in the US.

I was trying to open an account but first, I was not allowed to open one since I did not have enough "documentation". I had taken my passport and local(american) credit card but apparently that is not enough(even though his list of acceptable documents clearly states "Any picture ID document from a foreign government establishing nationality."

The guy kept saying, I don't want to loose my job by screwing things up (no idea what that means but hey it was just after the crisis).

Anyways, once past that hurdle, they are very nice and friendly, very accessible and the bank is almost always free to help you (never had to wait too long in line). All in all, a great experience compared to the big national banks (although as I said, the employee training does leave a lot lacking. )

Union Center National Bank

Related Posts