Union Bank & Trust
Popular Accounts at this Bank
| APY | ACCOUNT TYPE | HOW THEY COMPARE |
|---|---|---|
| 1.50% | 5-year CD | 2.27% - National Average |
| 0.30% | 1-year CD | 1.38% - National Average |
| 0.10% | Savings | 0.26% - National Average |
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 December of 2018, it had grown to 1,609 employees at 147 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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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.
Poor Interaction Makes Me Think Twice...
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
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.
Data as of Q4 2018
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| FDIC Certificate # | 34589 |
| Year Established | 1997 |
| Employees | 1609 |
| Primary Regulator | FED |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | 1.33% |
| Return on Equity - YTD | 8.49% |
| Annual Interest Income | $528.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2018vs Q4 2017 | $13.73B$9.29B |
| Loans | Q4 2018vs Q4 2017 | $9.68B$7.14B |
| Deposits | Q4 2018vs Q4 2017 | $9.98B$7.00B |
| Equity Capital | Q4 2018vs Q4 2017 | $2.19B$1.25B |
| Loan Loss Allowance | Q4 2018vs Q4 2017 | $41.0MM$38.2MM |
| Unbacked Noncurrent Loans | Q4 2018vs Q4 2017 | $50.6MM$27.2MM |
| Real Estate Owned | Q4 2018vs Q4 2017 | $8.8MM$6.6MM |
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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS | |
|---|---|---|---|---|---|
| 0.55% | - | - | 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW 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
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.00% | $5k | - | 59 Month CD Special | |
| 2.55% | $5k | - | 30 Month CD Special | |
| 2.50% | $5k | - | 19 Month CD Special | |
| 2.20% | $5k | - | 13 Month CD Special | |
| 1.75% | $1k | $100k | 5 Year Loyalty CD | |
| 1.50% | $1k | $100k | 5 Year CD | |
| 1.31% | $1k | $100k | 4 Year Loyalty CD | |
| 1.21% | $1k | $100k | 3 Year Loyalty CD | |
| 1.05% | $1k | $100k | 4 Year CD | |
| 1.00% | $1k | $100k | 2 Year Loyalty CD | |
| 0.95% | $1k | $100k | 3 Year CD | |
| 0.80% | $1k | $100k | 1 Year Loyalty CD | |
| 0.75% | $1k | $100k | 2 Year CD | |
| 0.60% | $100k | - | 1 Year Jumbo CD | |
| 0.55% | $1k | $100k | 1 Year CD | |
| 0.50% | $100k | - | 180 Day Jumbo CD | |
| 0.45% | $1k | $100k | 6 Month CD | |
| 0.45% | $100k | - | 60 Day Jumbo CD | |
| 0.45% | $100k | - | 90 Day Jumbo CD | |
| 0.40% | $1k | $100k | 3 Month CD | |
| 0.40% | $100k | - | 30 Day Jumbo CD | |
| 0.35% | $1k | - | 1 Year Loyalty No Penalty CD | |
| 0.30% | $1k | - | 1 Year No Penalty CD |
Union Bank & Trust IRA Rates
| APY | MIN | MAX | ACCOUNT NAME | VIEW DETAILS |
|---|---|---|---|---|
| 3.00% | $5k | - | 59 Month IRA Special | |
| 2.55% | $5k | - | 30 Month IRA Special | |
| 2.50% | $5k | - | 19 Month IRA Special | |
| 2.20% | $5k | - | 13 Month IRA Special | |
| 1.75% | $1k | $100k | 5 Year Loyalty IRA | |
| 1.50% | $1k | $100k | 5 Year IRA | |
| 1.31% | $1k | $100k | 4 Year Loyalty IRA | |
| 1.21% | $1k | $100k | 3 Year Loyalty IRA | |
| 1.05% | $1k | $100k | 4 Year IRA | |
| 1.00% | $1k | $100k | 2 Year Loyalty IRA | |
| 0.95% | $1k | $100k | 3 Year IRA | |
| 0.80% | $1k | $100k | 1 Year Loyalty IRA | |
| 0.75% | $1k | $100k | 2 Year IRA | |
| 0.55% | $1k | $100k | 1 Year IRA | |
| 0.45% | $1k | $100k | 6 Month IRA | |
| 0.40% | $1k | $100k | 3 Month IRA | |
| 0.35% | $1k | - | 1 Year Loyalty No Penalty IRA | |
| 0.30% | $1k | - | 1 Year No Penalty IRA |
