Union Bank & Trust
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | ACCOUNT NAME |
|---|---|---|
| 1.20% | 5-year CD | 5 Year CD 2.40% - Goldman Sachs Bank USA 5 Year CD |
| 0.05% | 1-year CD | 1 Year No Penalty CD |
| 0.75% | 4-year CD | 4 Year CD 1.90% - Goldman Sachs Bank USA 4 Year CD |
Union Bank & Trust is headquartered in Richmond and is the 6th largest bank in the state of Virginia. It is also the 139th largest bank in the nation. It was established in 1997 and as of June of 2017, it had grown to 1,432 employees at 113 locations. Union Bank & Trust has an A+ health rating.
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Very good bank! Happy with experience!
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.
ONLINE BANKING UNSATISFACTORY
THEIR SECURITY PROCEDURES ARE DRACONIAN AND RIDICULOUS. APPLICATION FOR ONLINE BANKING IS LENGTHY, COMPLEX AND INTRUSIVE. THE LATEST REQUIREMENT WAS TO REGISTER YOUR COMPUTER TO AVOID HAVING TO VERIFY IDENTITY BY TELEPHONE EACH TIME YOU SIGN ON EVEN AFTER YOU HAVE ENTERED PASSWORD. I STRONGLY DISLIKE HAVING TO REGISTER MY COMPUTER WITH ANYONE. I HAVE BEEN A CUSTOMER FOR OVER 12 YEARS, BUT THE SEARCH FOR A NEW BANK STARTS TOMORROW.
Health Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34589 |
| Year Established | 1997 |
| Employees | 1432 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1% |
| Return on Equity - YTD | 7.08% |
| Annual Interest Income | $157.9MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q2 2017vs Q2 2016 | $8.90B$8.09B |
| Loans | Q2 2017vs Q2 2016 | $6.77B$5.95B |
| Deposits | Q2 2017vs Q2 2016 | $6.77B$6.10B |
| Equity Capital | Q2 2017vs Q2 2016 | $1.24B$1.07B |
| Loan Loss Allowance | Q2 2017vs Q2 2016 | $38.2MM$35.1MM |
| Unbacked Noncurrent Loans | Q2 2017vs Q2 2016 | $30.0MM$18.1MM |
| Real Estate Owned | Q2 2017vs Q2 2016 | $9.5MM$13.4MM |
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* 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.30%* | $25k* | - | Health Savings Account | ||
| OTHER TIERS: 0.10% → Up to $10k | 0.20% → $10k - $25k | |||||
| 0.25% | - | - | IRA Variable | ||
Union Bank & Trust Money Market Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.30%* | $500k* | - | Money Market | ||
| OTHER TIERS: 0.10% → Up to $25k | 0.15% → $25k - $50k | 0.20% → $50k - $100k | 0.25% → $100k - $500k | |||||
| 0.30%* | $500k* | - | Business Money Market | ||
| OTHER TIERS: 0.10% → Up to $25k | 0.15% → $25k - $50k | 0.20% → $50k - $100k | 0.25% → $100k - $500k | |||||
Union Bank & Trust CD Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.75% | $5k | - | 52 Month CD Special | |
| 1.55% | $5k | - | 30 Month CD Special | |
| 1.40% | $5k | - | 19 Month CD Special | |
| 1.35% | $1k | $100k | 5 Year Preferred CD | |
| 1.20% | $1k | $100k | 5 Year CD | |
| 0.90% | $1k | $100k | 4 Year Preferred CD | |
| 0.80% | $1k | $100k | 3 Year Preferred CD | |
| 0.75% | $1k | $100k | 4 Year CD | |
| 0.65% | $1k | $100k | 3 Year CD | |
| 0.60% | $1k | $100k | 2 Year Preferred CD | |
| 0.45% | $1k | $100k | 2 Year CD | |
| 0.40% | $1k | $100k | 1 Year Preferred CD | |
| 0.30% | $100k | - | 1 Year Jumbo CD | |
| 0.25% | $1k | $100k | 1 Year CD | |
| 0.25% | $1k | $100k | 18 Month CD | |
| 0.20% | $100k | - | 180 Day Jumbo CD | |
| 0.15% | $1k | $100k | 6 Month CD | |
| 0.15% | $100k | - | 60 Day Jumbo CD | |
| 0.15% | $100k | - | 90 Day Jumbo CD | |
| 0.10% | $1k | $100k | 3 Month CD | |
| 0.10% | $100k | - | 30 Day Jumbo CD | |
| 0.10% | $1k | - | 1 Year Preferred No Penalty CD | |
| 0.05% | $1k | - | 1 Year No Penalty CD |
Union Bank & Trust IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 1.35% | $1k | $100k | 5 Year Preferred IRA | |
| 1.20% | $1k | $100k | 5 Year IRA | |
| 0.90% | $1k | $100k | 4 Year Preferred IRA | |
| 0.80% | $1k | $100k | 3 Year Preferred IRA | |
| 0.75% | $1k | $100k | 4 Year IRA | |
| 0.65% | $1k | $100k | 3 Year IRA | |
| 0.60% | $1k | $100k | 2 Year Preferred IRA | |
| 0.45% | $1k | $100k | 2 Year IRA | |
| 0.40% | $1k | $100k | 1 Year Preferred IRA | |
| 0.25% | $1k | $100k | 1 Year IRA | |
| 0.25% | $1k | $100k | 18 Month IRA | |
| 0.15% | $1k | $100k | 6 Month IRA | |
| 0.10% | $1k | $100k | 3 Month IRA | |
| 0.10% | $1k | - | 1 Year Preferred No Penalty IRA | |
| 0.05% | $1k | - | 1 Year No Penalty IRA |
