UFB Direct, a DepositAccounts.com advertiser, 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
6/9 - UFB Direct Cuts Savings And MM Rates From 1.51% To 1.35%
5/27 - UFB Lowers To 1.51% From 1.61%
5/19 - UFB Lowers Rates.
1/24 - UFB Paying 1.6% On Premium Savings & High Yield Money Market. But You Have To Ask,
1/3 - UFB Will Give 1.41% APY On Premium Savings Accounts If You Ask.
9/7/17 - UFB Direct Raises Money Market Savings Rate To 1.41% APY
6/5/17 - Saving Account Up To 1.3% APY
5/3/17 - UFB Direct Adds New Premium Savings Account
1/29/16 - UFB Direct Dramatically Raises Rate On UFB Savings Account
1/29/16 - UFB Direct Savings 1.20%
5/20/15 - UFB Direct Cuts Savings Account Rate To 0.70%
3/16/15 - UFB Direct Cuts Savings Account Rate To 0.95%
3/2/15 - UFB Direct Cuts Top Savings Account Rate
10/9/14 - New High Savings Account Rate at UFB Direct
4/26/13 - UFB Direct Slashes Rates - What’s Going On at BofI Federal?
4/24/13 - Rate Drop At UFB Direct
11/20/12 - Another UFB Direct MMA Rate Cut - Future of BofI's Rewards Checking?
10/31/12 - Another Rate Cut at UFB Direct - Issues To Consider for Rate Chasers
10/10/12 - UFB Direct Money Market Rate Droped To %1.05
9/5/12 - UFB Direct Cuts Money Market Rate - Best Option for Savers?
9/4/12 - MM Rate Slashed At UFB effective 09/04/2012
8/6/12 - Another Money Market Rate Hike at UFB Direct
6/26/12 - UFB Direct Raises Money Market Account Rate
5/30/12 - UFB Direct Launches Money Market Savings Account with a Top Rate
2/28/12 - Another Rate Cut At UFB Direct - 0.85% To 0.80%
2/23/12 - Another Rate Cut at UFB Direct - Lessons for Rate Chasers?
2/13/12 - UFB Savings Droped Yet Again From 0.95% Down To 0.90%. Switching To Mybankingdirect Or Amtrustdirect.
2/7/12 - UFB Airline Rewards Savings Droped Again From 1.05% Down To 0.95%.
2/1/12 - UFB Direct Savings Account Yield Falls From 1.10% To 1.05%
1/18/12 - Rate Cut at UFB Direct - Savings Account Strategies in Today's Environment?
1/18/12 - UFB Direct Rate Drop From 1.30 To 1.10
9/16/11 - Nation's Top Savings Account Rate at Bank of Internet's UFB Direct
8/4/11 - Bank of Internet's New Airline Miles Rewards Savings & Checking Accounts
1/9/10 - UFB Direct's New 2% US Savings Account - How Long Will This Last?
6/22/09 - UFB Direct's No-Min Absolute Savings Account Still Holding at 5.31%
2/22/09 - UFB Direct Increases Yield on its Traveler's Savings Account to 4.00%
11/30/07 - UFB Direct Deposits FDIC Insured by Huntington and Countrywide
6/27/07 - UFB Direct Closes No-Min Savings and Starts New Tiered Savings Account
8/9/06 - CD Rates Go Down Again This Week at UFB Direct
8/1/06 - UFB Direct, Jumbo Money Market Rate Up But CD Rates Down
6/21/06 - 5.50% 1-year CDs Now at UFB Direct, M&T and Tranportation Alliance Banks
1/2/06 - UFB Direct Raisies Money Market Rates
11/2/05 - New CapOne/Costco and UFB Direct Money Market Rates
8/22/05 - The Deal at UFB Direct
Great online savings account...
UFB Bank has a great online savings account. The rate was so much higher than I could find anywhere else, especially local banks. Opening the account was very easy and only took a few minutes. Once the account was open it was easy to transfer money into the account via ACH. The website itself was very nice and was extremely easy to use. It had all the necessary information easily at hand and kept a record of your transactions along with all your old statements. Given that this bank is FDIC insured is a great peace of mind because that means at least 250,000 dollars is insured by the FDIC. If for any reason this bank was to go out of business the FDIC would step in and insure that depositors would get all their money back. I recommend UFB wholeheartedly.
Average Bank...
Warning If you zero out your balance before the end of any month the interest you have accrued for that month will be forfeited and they will account close your account...Account setup is slow takes a few days until you can log into your account.. Rate is not stable they tend to lower it after only a few months...
Thanks.... But No Thanks.
I had a account with UFB a couple years ago. They were always a little difficult to deal with but had good rates. I could usually call and they would raise transfer limits immediately. I stopped using the account when rates fell and they closed it. They called me a couple days ago to entice me to reopen the account with their new rates under Axos ownership. I took the bait. They told me this and that and the people working there seem nice but unfortunately come across very amateurish and not well-informed. They would not raise the ACH limits enough to accomodate a inbound transfer, even though I was told it wouldn't be a problem.. They wanted me to do a wire transfer instead. When I tried to link them to a external bank account to push funds, the other bank said they were having a problem linking to Axos. If it's this hard to get money in, I can only imagine how hard it must be to get money out. No thanks...life is too short to jump through these hoops to make a deposit. There are plenty of other banks easier to deal with.
Watch OUT!
A little over a year ago this bank dangled an interest rate of 1.25%. Within months the interest rate plummeted by .85%, dropping to .40%. Online I easily opened a UFB Direct savings account, but naturally after a few months I left very little in it and then finally closed it. I was told by customer service that I could not set up through UFB Direct ACH transfers so I simply set up these "in & out" ACH transfers to originate from my other banks (trial deposits went smoothly). When logging in the site often demanded a verification code which it offered to send by email or text. Unusual, but not too much work. As long as the savings account balance was over $25,000 the entire balance enjoyed the highest interest rate. When the time comes to close the account you must give UFB Direct notice beforehand, or else you forfeit any outstanding interest. I emptied the account to zero after the end of the month prior to closing it (therefore successfully transferring out all the interest) because it's unclear what that process necessitated. For some odd reason I was required to print, sign, scan, and return a signature card despite not having a checking account. You're responsible for ATM fees using an ATM card linked to the savings account, but you're reimbursed for any ATM fees while using a debit card linked to the checking account. A smart phone app is available for mobile banking including depositing checks and paying bills from a checking account.
Data as of Q4 2021
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 35546 |
| Year Established | 2000 |
| Employees | 1022 |
| Primary Regulator | OCC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.8% |
| Return on Equity - YTD | 18.55% |
| Annual Interest Income | $621.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2021vs Q4 2020 | $14.05B$13.30B |
| Loans | Q4 2021vs Q4 2020 | $12.61B$11.64B |
| Deposits | Q4 2021vs Q4 2020 | $12.37B$11.67B |
| Equity Capital | Q4 2021vs Q4 2020 | $1.40B$1.20B |
| Loan Loss Allowance | Q4 2021vs Q4 2020 | $140.3MM$136.2MM |
| Unbacked Noncurrent Loans | Q4 2021vs Q4 2020 | $142.2MM$166.1MM |
| Real Estate Owned | Q4 2021vs Q4 2020 | $0$6.1MM |