United Bank (CT)

Overview / Commentary
151 Asylum Street
hartford, CT 06103

United Bank is a publicly traded bank (NASDAQ:UBNK) that offers a wide range of financial products and services. The bank is a certified SBA lender and also offers a complete line of commercial lending and business banking products.

On its personal banking side, United Bank features a free checking account that comes with checks, free ATM usage, a debit card, and online banking. Other checking accounts include those offering variable rates of interest when certain conditions are met, as well as an account customized for seniors. The bank’s savings accounts features free ATM access at United Bank ATMs and require a minimum daily balance in order to avoid a monthly fee. ATM cards are available with any checking or savings account. United Bank’s money market accounts offer increased rates of interest based on account balances and also have monthly fees if average account balances are not met. CDs and IRA CDs offer a range of term lengths from 3 months to 5 years. United Bank offers similar accounts on its business banking side as well.

United Bank online banking allows customers to access their accounts at any time to accomplish a number of tasks like transferring funds and paying bills. The bank also has a smartphone app on which customers can perform online banking while on the go, as well as set account alerts to keep them aware of balance levels.

United Bank was originally established in 1882 as the United Co-operative Bank. More than 100 years passed before the bank finally became FDIC insured and moved its headquarters to West Springfield, Massachusetts, in 1986. In 2004 the bank changed its name to United Bank and changed its organization type to a mutual savings bank with the FDIC. It serves its customers through multiple branches located across the state of Massachusetts.

Related Posts

Money Market 2.50% - 2/12/2019

Again they raised it and honored an increase for me and extended the rate for 6 months. NO-- additional $25,000 required..

Advantage MM 2.50% Rate Kicker With $25K New Money - 1/18/2019

I got an email today, which might be targeted (YMMV), for a 6 month rate boost, to 2.50%, with an additional deposit of at least $ 25K . Text from email is below. Looking to build your savings without giving up access to your money? You've already got the key, your United Bank Advantage Money Market account. For a limited time, when you add $25,000 or more to your account, we'll raise your rate up to 2.50% APY for 6 months.* Plus, you'll get all those other great advantages that come with your account, including the assurance of FDIC protection and convenient access to your money. Let the saving begin! Make your deposit of $25,000 or more, in new money not currently on deposit with United Bank, today to raise your rate, and the roof, on your savings. Just call our Customer Care Center at 866.959.2265.

United Bank Offers New Rate On Advantage Money Market Promo - 11/19/2018

United Bank (CT) is offering a promo 2.50% APY on its Advantage Money Market. A minimum $25k deposit of new money is required to earn the 2.50% APY.

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Posted by: wwinva | May 17, 2018

$5000 withdrawal limit is for 90 days only.

Average Online Bank-Could Be Better

Posted by: Ravaan | Nov 21, 2018

Recently opened a new CD account here for the first time. Overall, I had a good experience with their online banking portal and timely ACH transfers. One bad thing is that you have to re-enter some of your personal details AGAIN when registering for online banking. These details were already submitted during account opening process. The system will NOT access it on its own. You have to give them again for online banking. Also, the system will NOT save the external account given to them for ACH transfer. You will have to register it again after your CD is funded. A bit archaic practice...

Another thing: You can add a beneficiary online during the account opening process, but the beneficiary will NOT show up in your account details online once the account is opened. (Strange!!) You cannot modify any beneficiary details online. You have send a notarized form to them every time you want to add/delete a beneficiary. Very restrictive and old-fashioned..

Terrible Service

Posted by: LoganD | Feb 7, 2019

I’ve been with a united Bank for almost three years. I started with a atm card which was sent to me in the mail. I evatually applied for a debit card which didn’t arrive, I had to go to a branch and ask them to send it again. At this visit I found that I was suppose to receive checks for the account I opened which I was suppose to get over a year ago. I opened up yet another account and ran into the same problem, this time I called and asked when I would get my card and it had never been sent. Lastly my card had been used in an online transaction, that wasn’t mine, I called the bank about my situation and they tried to get me to sign up for a credit card when i was, in complete frantic over my money being gone, however they added the money to my account a week later, however after review of the claim I put in, United Bank believed that it had actually been me ordering something to California, when I live in CT, and I had transactions the same day in CT. Once the money had been removed from my account yet again, I was flooded with overdraft fees. I attempted to call my local branch and received no help at all, I was instead transferred and waitied on hold for 30min!!!. After a short conversation with a representative, I was transferred to a hire up at United bank, however I never had a chance to, instead I was greeted with a note saying “this function is no long available” again after waiting 15min to talk to someone. Absolutely terrible experience and I will be leaving United Bank. They have no respect for customers

United Bank Review

Posted by: Skip | Dec 9, 2014

United Bank is a great bank to be associated with. They take care of all your needs and are sure to help you with any questions you have about banking or loans. Originally when I applied and opened an account, the staff were very friendly and quick to accommodate me. The manager told me all the options I have and suggested a lot of ways to avoid unwanted fees and keep transactions safe. Whenever I go to the bank, I am greeted personally by the tellers and cared for almost immediately. United Bank has a great website as well that's very easy to navigate and manage all online banking. I would recommend this bank to anyone that's interested in opening account and having a great bank to be associated with.



Health Grade Components

FDIC Certificate #18203
Year Established1858
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.94%
Return on Equity - YTD9.26%
Annual Interest Income$273.0MM
Assets and Liabilities
AssetsQ4 2018vs Q4 2017$7.35B$7.11B
LoansQ4 2018vs Q4 2017$5.70B$5.43B
DepositsQ4 2018vs Q4 2017$5.70B$5.23B
Equity CapitalQ4 2018vs Q4 2017$748.8MM$713.4MM
Loan Loss AllowanceQ4 2018vs Q4 2017$51.6MM$47.1MM
Unbacked Noncurrent LoansQ4 2018vs Q4 2017$33.5MM$34.3MM
Real Estate OwnedQ4 2018vs Q4 2017$1.2MM$1.5MM
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Always verify rates and promotions with the bank or credit union. We are not United 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.

United Bank (CT) Savings Account Rates

1.51%*$25k*-Health Savings Account
OTHER TIERS: 0.25% $1 - $1k | 0.49% $1k - $2.5k | 1.01% $2.5k - $25k
0.25%--Commercial Earnings Credit Rate Deposit Account
0.20%$5-Variable Rate IRA
0.07%*$20k*-Premier Savings
OTHER TIERS: 0.05% $1 - $5k | 0.06% $5k - $20k
0.06%*$1k*-Benefits Savings
OTHER TIERS: 0.05% $1 - $1k
0.05%*$1k*-Business Savings
OTHER TIERS: 0.02% $1 - $1k
0.05%$1-Target Savings
0.05%$1-Simpl•e Savings

United Bank (CT) Money Market Rates

2.00%$1-Prime Money Market Special (In-Branch Only)
0.50%*$1m*-Business Money Market
OTHER TIERS: 0.05% $1k - $25k | 0.10% $25k - $50k | 0.15% $50k - $100k | 0.20% $100k - $250k | 0.30% $250k - $500k | 0.45% $500k - $1m
0.50%*$1m*-Prime Business Money Market
OTHER TIERS: 0.05% $1 - $25k | 0.10% $25k - $50k | 0.15% $50k - $100k | 0.20% $100k - $250k | 0.30% $250k - $500k | 0.45% $500k - $1m
0.35%*$250k*-Prime Money Market
OTHER TIERS: 0.03% $1 - $1k | 0.05% $1k - $10k | 0.10% $10k - $25k | 0.15% $25k - $50k | 0.20% $50k - $100k | 0.25% $100k - $250k

United Bank (CT) Checking Account Rates

0.55%*$500k*-IOLTA - MA
OTHER TIERS: 0.05% $1 - $50k | 0.15% $50k - $500k
0.50%$1-IOLTA - CT
0.40%$1-IORETA - CT
0.25%*$200k*-Premier Checking
OTHER TIERS: 0.05% $1k - $10k | 0.10% $10k - $50k | 0.15% $50k - $100k | 0.20% $100k - $200k
0.15%*$200k*-Premier Business Checking
OTHER TIERS: 0.05% $50k - $100k | 0.10% $100k - $200k
0.08%$500-Generations Checking
0.05%*$500*-Benefits Checking
OTHER TIERS: 0.03% $1 - $500

United Bank (CT) CD Rates

2.50%$500-19 Month Flex-Up CD Special
2.45%$500-20 Month Flex CD Special (In-Branch Only)
2.45%$500-30 Month CD Special w/ Checking
2.45%$500-13 Month CD Special
2.35%$500-13 Month Flex-Up CD Special
2.30%$500-7 Month Flex Up CD Special
1.65%$500-3 Month CD Special
1.55%$500-7 Month CD Special
1.31%$500$500k60 Month CD
1.20%$500$500k12 Month CD Special - Online Only w/Checking (New Money)
1.11%$500$500k48 Month CD
1.01%$500$500k36 Month CD
0.80%$500$500k24 Month CD
0.65%$500$500k24 Month Option CD
0.55%$500-18 Month CD
0.55%$500$500k12 Month CD
0.50%$500$500k9 Month CD
0.40%$500$500k6 Month CD

United Bank (CT) IRA Rates

2.45%$500-30 Month IRA Special
2.45%$500-13 Month IRA Special
1.31%$500-60 Month IRA
1.11%$500-48 Month IRA
1.01%$500-36 Month IRA
0.80%$500-24 Month IRA
0.65%$500-24 Month Option IRA
0.55%$500-12 Month IRA
0.55%$500-18 Month IRA


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