UniBank for Savings is headquartered in Whitinsville and is the 24th largest bank in the state of Massachusetts. It is also the 489th largest bank in the nation. It was established in 1870 and as of September of 2019, it had grown to 280 employees at 14 locations. UniBank for Savings' money market rates are 82% higher than the national average, and it has an A health rating.
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Reduced Maximum For Reward Checking
Unibank is capable, no issues with service. Never did set foot in a branch, set account up online and used debit card, mobile app and customer service phone line when necessary.
Closing account because as of 4/1/2016 they are reducing the maximum balance for reward checking account from $25,000 to $15,000.
Hopefully I have the same good luck with Randolph Savings Bank. Better reward rate, lower (waived) monthly service fee of $10 vs $35 for Unibank, and maximum balance for reward checking is $25,000.
Grest Customer Service, Stupid Anti Customer Policies
I've been very happy with Unibank's Reward Checking until they dropped the limit on each of our two accounts from $25K to $15K which makes Randolph bank where I also have 2 accounts much more desirable. At the end of June I transferred the $15K from one acct to the other as I was considering whether or not to put our $30K elsewhere. I accidentally charged $0.04 using the wrong debit; I immediately transferred $15K back to that acct but, because the acct was negative by 4 cents for an hour or so, I not only lost my expected $28 in interest for June, but also I was assessed a $35 fine.
Yes, the $63 loss on a technicality was my mistake, but the outstanding customer service I have experienced over several years could not override extremely ridged & in my opinion stupid policies, I closed both accts today.
Data as of Q3 2019
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 90290 |
| Year Established | 1870 |
| Employees | 280 |
| Primary Regulator | FDIC |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 0.61% |
| Return on Equity - YTD | 7.08% |
| Annual Interest Income | $49.2MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q3 2019vs Q3 2018 | $1.76B$1.64B |
| Loans | Q3 2019vs Q3 2018 | $1.29B$1.26B |
| Deposits | Q3 2019vs Q3 2018 | $1.59B$1.49B |
| Equity Capital | Q3 2019vs Q3 2018 | $158.2MM$140.7MM |
| Loan Loss Allowance | Q3 2019vs Q3 2018 | $14.4MM$12.4MM |
| Unbacked Noncurrent Loans | Q3 2019vs Q3 2018 | $6.8MM$12.2MM |
| Real Estate Owned | Q3 2019vs Q3 2018 | $765.00K$765.00K |
