United Bank (CT)


Overview / Commentary
860-500-4858
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

People’s United Bank To Acquire United Bank (CT) - 7/16/2019

I'm afraid those money market deals that Bank United had offered may come to an end after this acquisition. It has been a long time since I've seen a good deposit deal at People's United Bank. This press release came out yesterday: People's United Financial, Inc. (NASDAQ: PBCT), the holding company for People's United Bank, N.A., announced today an agreement to acquire United Financial Bancorp, Inc. (NASDAQ: UBNK), the holding company for United Bank The transaction is expected to close during the fourth quarter of 2019.

MMA Discontinued, APY now 2.20% - 6/27/2019

I was just told that United Bank has stopped offering its Money Market Advantage account to new customers. And since June 25th the rate for existing customers has fallen to 2.18% .

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..

View all posts from:


Withdrawal

Posted by: wwinva | May 17, 2018

$5000 withdrawal limit is for 90 days only.

Advantage Money Market Now 1.93%

Posted by: Mikey1 | Nov 1, 2019

Rate decrease now in effect 11/1/19

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..

Very Low Daily Withdrawal Limit Of Only $5,000

It's hard to get money out - they have very low daily ACH limit - $5,000. You would need to write a check to yourself to get money out.

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Health

Health Grade Components

Overall
FDIC Certificate #18203
Year Established1858
Employees767
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.79%
Return on Equity - YTD7.65%
Annual Interest Income$146.6MM
Assets and Liabilities
AssetsQ2 2019vs Q2 2018$7.34B$7.20B
LoansQ2 2019vs Q2 2018$5.76B$5.53B
DepositsQ2 2019vs Q2 2018$5.77B$5.44B
Equity CapitalQ2 2019vs Q2 2018$764.3MM$720.3MM
Loan Loss AllowanceQ2 2019vs Q2 2018$53.2MM$49.2MM
Unbacked Noncurrent LoansQ2 2019vs Q2 2018$34.1MM$31.1MM
Real Estate OwnedQ2 2019vs Q2 2018$1.1MM$1.7MM
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%*$25k*-Prime Money Market Special (In-Branch Only)
OTHER TIERS: 0.30% $1 - $25k
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.70%$500$500k6 Month CD
1.65%$500-11 Month CD Special
1.40%$500$500k36 Month CD
1.31%$500$500k60 Month CD
1.11%$500$500k48 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

United Bank (CT) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.65%$500-11 Month IRA Special
1.40%$500-36 Month IRA
1.31%$500-60 Month IRA
1.11%$500-48 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
Locations

Availability

Hartford Area

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