Overview / Commentary
804-327-5720
1051 E. Cary St., Suite 1200
Richmond, VA 23219

Union Bank & Trust is headquartered in Richmond and is the 6th largest bank in the state of Virginia. It is also the 112th largest bank in the nation. It was established in 1997 and as of June of 2018, it had grown to 1,702 employees at 152 locations. Union Bank & Trust's money market rates are 14% higher than the national average, and it boasts an A+ health rating.

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Reviews (5)

Very good bank! Happy with experience!

Posted by: SalindaMay | Jun 9, 2015

I use Union Bank regularly after a recent merger. They took over for my previous bank, Stellar One. At first, I was disappointed that I would be losing my previous bank. I had been a long time customer of my previous bank and I did not want to switch, but Union Bank made the switch so easy. Customer service was a bit slow at first with the high call volume but now I am very happy with the service. I use them primarily for a checking account. I really like their online services. It is easy to monitor deposits and withdrawals as well as all spending and categories of spending. I do miss having my old Virginia Tech alumni checking account that Stellar One offered, which is why I marked a 4 on competitive products, but otherwise I am happy with the checking account options. I really enjoy their bill pay features. It is easy to pay bills online with Union. Much easier than it ever was with my previous bank. I would recommend this bank to others. For a small local branch it is top notch.

Customer service

I really enjoy this bank for my basic needs. Usually I go to the same branch. Most of the time I get the same person dealing with me so she knows me by name. She is always very kind and helpful. She is easy to talk to and knowledgeable. Most of the other people are good as well all helpful and easy to deal with. I have only had one person I did not enjoy working with. I feel that the good far outweighs the bad. This is why I continue to use them as a bank. I like having a smaller bank in town that i can go to. Its very convenient and if I know I have a problem it can just go in there to work it out if I need. I have been using their app more now as I dont have to leave my home and is convenient. Overall they have treated me well and I enjoy banking with them.

Phenomenal Service but High Fees

The service at Union Bank is unbelievable. Whether on the phone or in person, they really go out of their way to make sure you are happy. They handle issues and problems quickly and effectively. When my account was used fraudulently while I was overseas they went out of their way to assure me they would take care of the problem and they handled it well. They also communicate very well. My only problem I have with them are the fees. I pay quite a lot just for a standard checking account. Also, overdrafts are incredibly expensive as well, but you can avoid that issue just by keeping abreast of the account. Their online services through their website are very good, and they even have a feature where you can access other bank account balances through their website. I find that convenient.

Poor Interaction Makes Me Think Twice...

Posted by: sharriem84 | Jun 4, 2018

I had a recent interaction with a sales and service representative via email. The tone of the email was cold and unprofessional and the individual did not answer my question stating privacy policies as a reason. I am thankful the bank takes privacy and security seriously, but this individual could use some lessons in email etiquette. There was no greeting, empathy, and the person did not leave his/her name in the email. This is far from the service I have received in previous years of being a customer of Union Bank & Trust. I wanted to return to the bank, but if today's interactions are indicative of the service I will receive, I definitely need to think twice.

Worst Bank EVER

Posted by: Sondge | Jun 25, 2018

I have been banking with Union Bank for the past 10 years when they were still Union Bank and Trust. I think when they changed, not sure if it was just a name change or management or whatever but the service begin to decline. Banked with them in Ladysmith for about 3-4 years and just kept the account bc of convenience but when going out of town, was always being charged for not using a Union Bank ATM, however, there never were any outside of Virginia so I had to use other ATMs. Not to mention, fees are EXTREMELY high at this bank. Finally I left and went to Navy Federal Credit Union (they are awesome). Decided to open a second account after 6 years or so, decided to give Union one more chance. Here it is 2018, we can make deposits from our phones by taking pictures, ATMs count our money and read our checks for us, technology is great, however, if you make a deposit into a Union Bank ATM, your deposit will not be available until the bank goes outside MANUALLY and then MANUALLY inputs each deposit... My deposit was CASH mind you, not like it was a check that needed to be cashed or anything... so I made the deposit with CASH on Saturday after they closed and here it is Monday and I am told that the CASH won't be ready for me to use AT ALL until after 2pm. So I was left all weekend with $20 to my name (thank goodness I didn't deposit everything I had because I would have been screwed). EVERY and I mean EVERY other Bank I have checked with today, at least 6, cash deposits through ATM deposits go into a persons account immediately upon depositing... Really just confused as to why the bank upgraded to these new fancy ATMs if they aren't able to be used properly. Needless to say Union will not get anymore chances. Thumbs down Union Bank.



Health
A+

Health Grade Components

Overall
FDIC Certificate #34589
Year Established1997
Employees1702
Primary RegulatorFED
Profit Margin
Return on Assets - YTD1.26%
Return on Equity - YTD8.2%
Annual Interest Income$256.8MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$13.03B$8.90B
LoansQ2 2018vs Q2 2017$9.29B$6.77B
DepositsQ2 2018vs Q2 2017$9.81B$6.77B
Equity CapitalQ2 2018vs Q2 2017$2.13B$1.24B
Loan Loss AllowanceQ2 2018vs Q2 2017$41.3MM$38.2MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$45.8MM$30.0MM
Real Estate OwnedQ2 2018vs Q2 2017$8.0MM$9.5MM
Rates
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Always verify rates and promotions with the bank or credit union. We are not Union Bank & Trust; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Union Bank & Trust Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.40%--IRA Variable
0.30%*$25k*-Health Savings Account
OTHER TIERS: 0.10% $1 - $10k | 0.20% $10k - $25k
0.20%*$25k*-Loyalty Savings
OTHER TIERS: 0.10% Up to $5k | 0.15% $5k - $25k
0.10%--Statement Savings
0.10%--Deluxe Savings Club (w/ Auto Debit)

Union Bank & Trust Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$500k*-Loyalty Money Market Account
OTHER TIERS: 0.30% Up to $10k | 0.35% $10k - $25k | 0.40% $25k - $50k | 0.45% $50k - $100k | 0.55% $100k - $500k
0.50%*$500k*-Money Market
OTHER TIERS: 0.30% Up to $25k | 0.35% $25k - $50k | 0.40% $50k - $100k | 0.45% $100k - $500k

Union Bank & Trust Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.25%*$1m*-Preferred Banking
OTHER TIERS: 0.05% Up to $50k | 0.10% $50k - $250k | 0.15% $250k - $500k | 0.20% $500k - $1m
0.05%*$10k*-Loyalty Checking
OTHER TIERS: 0.03% Up to $10k
0.05%*$10k*-ThankU Checking
OTHER TIERS: 0.03% Up to $10k

Union Bank & Trust CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.00%$5k-52 Month CD Special
2.30%$5k-30 Month CD Special
2.20%$5k-19 Month CD Special
1.60%$1k$100k5 Year Loyalty CD
1.55%$5k-13 Month CD Special
1.35%$1k$100k5 Year CD
1.15%$1k$100k4 Years Loyalty CD
1.05%$1k$100k3 Year Loyalty CD
0.90%$1k$100k4 Year CD
0.85%$1k$100k2 Year Loyalty CD
0.80%$1k$100k3 Year CD
0.65%$1k$100k1 Year Loyalty CD
0.60%$1k$100k2 Year CD
0.45%$100k-1 Year Jumbo CD
0.40%$1k$100k1 Year CD
0.35%$100k-180 Day Jumbo CD
0.30%$1k$100k6 Month CD
0.30%$100k-60 Day Jumbo CD
0.30%$100k-90 Day Jumbo CD
0.25%$1k$100k3 Month CD
0.25%$100k-30 Day Jumbo CD
0.20%$1k-1 Year Loyalty No Penalty CD
0.15%$1k-1 Year No Penalty CD

Union Bank & Trust IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.60%$1k$100k5 Year Loyalty IRA
1.35%$1k$100k5 Year IRA
1.15%$1k$100k4 Years Loyalty IRA
1.05%$1k$100k3 Year Loyalty IRA
0.90%$1k$100k4 Year IRA
0.85%$1k$100k2 Year Loyalty IRA
0.80%$1k$100k3 Year IRA
0.65%$1k$100k1 Year Loyalty IRA
0.60%$1k$100k2 Year IRA
0.40%$1k$100k1 Year IRA
0.30%$1k$100k6 Month IRA
0.25%$1k$100k3 Month IRA
0.20%$1k-1 Year Loyalty No Penalty IRA
0.15%$1k-1 Year No Penalty IRA
Locations

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