Union Savings Bank (CT)

Overview / Commentary
226 Main Street
Danbury, CT 06810

Union Savings Bank (CT) is headquartered in DANBURY and is the 4th largest bank in the state of Connecticut. It is also the 394th largest bank in the nation. It was established in 1866 and as of March of 2024, it had grown to 360 employees at 26 locations. Union Savings Bank (CT)'s savings rates are 44% higher than the national average, and it has a B health rating.

Reviews (3)

I've been banking with Union Savings since I was old enough to have a banking account!

Posted by: |

I first opened an account with Union Saving Bank when I was a teenager and have been with them ever since. Union Savings was there to help me start a vacation fund when I found out I'd be going to Germany for vacation and I wanted to save. Later in life, they helped me with a loan with my first car and now I am working with them for a first time home buyers loan.

The employees at the bank are friendly and have always been available to me. Several times in the past few years they have got out of their way to assist me when I was having issues or complications.

I will say that Union Savings Bank could use some work developing a better app for their online banking. The one they currently have is easy enough to navigate but loading errors are frequent.

USB has been my bank since I was old enough for an account

I opened my first account with my mom at my side at the age of 15. We chose USB because she had been banking with them for many years and they were close by our home. I quickly took notice to the fact that they would always greet her by name growing up, and as I continued to go their myself, they knew my name as well. They were personable at this bank to the point where I would bring them small gifts for Christmas (such as baked bread and cookies) and they would be delighted and thankful. As a young girl, I set up both a checking and savings account with USB.

My family moved to another down when I was in my early twenties, and luckily there was a USB branch within a mile of our new home. I was sad that we wouldn't be as close to the bankers we new in my old town, but was happy to see that there was no difference in the overwhelming amount of friendliness. My first time there, I met the bank manager and she invited me into the office to see if she could help me any further with my finances. I opened up a shared account for my boyfriend and I, and they walked me through a vacation fund, which would take a percentage of my income and put it away for vacations or gifts to purchase for the holidays. When my nephew was born, I set up a CD for him with USB as a gift to him and his family. The woman I set this up with was the same bank manager I had previously met with and she made the experience very easy, leaving me with little to worry about or do.

It has been a pleasure being a client with USB. I use their online banking services frequently and the app is so easy to navigate. Any time I have ever had an issue with anything, their customer service has been on top of it and communicated well with me. It seems that every time I enter the bank, they are telling me about new services they offer and easier ways to bank with them.

Union Savings Bank

Posted by: |

I have a business account there. Just recently I deposited a check of $630, then noticed that it didn't register in my account, it didn't show any deposits. I tried to solve that mystery where did the check go. I remembered depositing it via ATM at the branch but didn't take the receipt (COVID times habit). So, that's what I found out: their ATM, did not recognize my ATM card because I didn't use it for a month or two and totally unlinked from my account from the card. I had to wait 10 days or so for them to to audit it. Then they found the checks and told me they will deposit it to my account in 10 days and they did. However, surprise surprise..just checked my account there is a note: "undisclosed" and the money ($630) are taken away again....nobody said a work why or tried to call me and did not respond to my inquiries...they are just crooks..YOUR MONEY WILL DISAPPEAR FROM THAT BANK! HOW THIS IS EVEN POSSIBLE? ANYONE HAD THE SAME EXPERIENCE WITH CT UNION SAVINGS BANK?


Health Grade Components

FDIC Certificate #18190
Year Established1866
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.4%
Return on Equity - YTD4.78%
Annual Interest Income$30.3MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$3.02B$3.02B
LoansQ1 2024vs Q1 2023$1.93B$1.8B
DepositsQ1 2024vs Q1 2023$2.22B$2.28B
Equity CapitalQ1 2024vs Q1 2023$251.8MM$236.6MM
Loan Loss AllowanceQ1 2024vs Q1 2023$21.1MM$23.1MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$15.7MM$10.9MM
Real Estate OwnedQ1 2024vs Q1 2023$171K$0
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Always verify rates and promotions with the bank or credit union. We are not Union Savings Bank (CT); 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 Savings Bank (CT) Savings Account Rates

0.75%*$250k*-Access Savings
OTHER TIERS: 0.03% $0 - $25k | 0.10% $25k - $50k | 0.15% $50k - $100k | 0.40% $100k - $250k
0.15%*$5k*-Young Savers
OTHER TIERS: 0.10% $0 - $5k
0.05%*$25k*-Health Savings
OTHER TIERS: 0.03% $0 - $25k
0.03%$0-Holiday Club
0.03%$0-Vacation Club
0.03%$0-Essential Savings

Union Savings Bank (CT) Money Market Rates

0.07%*$100k*-Money Market Savings
OTHER TIERS: 0.03% $0 - $50k | 0.05% $50k - $100k

Union Savings Bank (CT) Checking Account Rates

0.08%*$100k*-Access Checking
OTHER TIERS: 0.03% $0 - $25k | 0.04% $25k - $50k | 0.06% $50k - $100k

Union Savings Bank (CT) CD Rates

0.60%$1k-60 Month CD
0.55%$1k-48 Month CD
0.45%$1k-36 Month CD
0.40%$1k-24 Month CD
0.35%$1k-18 Month CD
0.25%$1k-12 Month CD
0.20%$1k-6 Month CD
0.17%$1k-9 Month CD
0.10%$1k-91 Day CD

Union Savings Bank (CT) IRA Rates

0.60%$1k-60 Month IRA
0.55%$1k-48 Month IRA
0.45%$1k-36 Month IRA
0.40%$1k-24 Month IRA
0.35%$1k-18 Month IRA
0.25%$1k-12 Month IRA
0.20%$1k-6 Month IRA
0.17%$1k-9 Month IRA
0.10%$1k-91 Day IRA


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