Looking for help with your account? Choose from the category and topics below to find answers to your questions.

Savings Accounts and CDs

Savings

How do I choose the best savings account for me?

To find the savings account that best fits your needs visit our savings account overview page where you can compare the different account features between our Regular Savings, MoneyMarket, and CD products. #

What is the minimum opening deposit?

Is there a balance required to avoid the Monthly Service Charge?

There is no Monthly Service Charge for a Regular Savings account if you maintain a minimum daily ledger balance of $300 or more or if you make at least one single monthly deposit of $25 or more. Kidz Savings accounts and Teen Savings accounts have no minimum balance requirements and no regular Monthly Service Charge.

 

How is interest paid?

Interest is compounded daily, paid quarterly on Regular Savings accounts. The interest rates may change as often as daily.

Do you offer savings accounts for children and teens?

The Kidz Savings account is designed for children ages 8 to 12. At age 13, this account automatically converts to a Teen Savings account, which is ideal for ages 13 to 17. At age 18, a Teen Savings account automatically converts to Regular Savings. Adult joint owners are required on both Kidz Savings and Teen Savings accounts. Please visit your local branch, or call us at 1-800-238-4486 for more information.

Do you offer individual Retirement Account (IRA) saving accounts?

Yes. For more spefic information regarding IRA savings products, please contact your local branch.

Can I open an account with Union Bank if my account history has been reported to ChexSystems?

Yes. Please contact your local branch for further information. Restrictions may apply. Also, for some individuals that have a negative ChexSystems record, our Union Bank Access Account may be an option.

Can I use my savings account to cover unintentional overdrafts on my checking account?

Yes. If you enroll in Deposit Overdraft Protection, automatic transfers will be made from your Regular Savings account to your checking account as needed. #  Teens may also use their Teen Savings account as overdraft protection for their Teen Access® checking account if both accounts are jointly owned by an adult. Learn more about Overdraft Protection.

Can I set up automatic deposits to my savings account?

Yes. You can set up recurring automatic deposits to your Regular Savings account from your Union Bank checking account or any other external personal account. You can also set up recurring automatic deposits to a child's Kidz Savings account or Teen Savings account.

Can I use my savings account to pay a Union Bank loan?

Yes. You can set up recurring automatic transfers from your Regular Savings account to repay a Union Bank loan.

Can I receive a combined monthly statement for all my accounts?

Yes. You can combine up to 20 Union Bank checking, savings, and money market accounts into one organized monthly statement. Stop by any branch or log in to Online Banking for details. Please note, combined statements option is not available for online-only statements. For money market accounts, you may lose your Monthly Service Charge Discount if you choose paper statements.  Please see the Personal Accounts Fee Schedule.

How do I start banking online?

If you have a Union Bank savings account, you can start banking online by enrolling in Online Banking. Online Banking not available for Kidz Savings.  Sign up now to get started. For access from your smartphone or tablet, download our Mobile Banking app for iPhone®, iPad®, or Android™ devices from the app store. #

Can I check my savings account balance on the telephone?

Yes. You can check your balances and even handle some transactions over the telephone. #   Use our automated Telephone Banking service or contact us at 1-800-238-4486. Online Banking customers can also check balances online.

Is an ATM card available with my savings account?

Union Bank offers an ATM card with a Regular Savings account. # There is no Union Bank ATM Fee for withdrawals and deposits  made at Union Bank ATMs. There is a fee for ATM mini-statements #

MoneyMarket

What is a money market account?

A money market account is similar to a savings account but typically offers higher interest rates. Your funds are liquid, and you have the convenience of writing checks. Certain types of transactions, including writing checks, are limited to a total maximum of six per monthly statement period. #   Compare our savings accounts to find the right choice for you.

What is the minimum opening deposit?

Open a MoneyMarket account with $2,500.

Is there a balance required to avoid the Monthly Service Charge?

Our MoneyMarket account requires a minimum daily ledger balance of $2,500 or more to avoid a Monthly Service Charge.

How is interest paid?

Interest is compounded monthly and paid monthly. The interest rates may change as often as daily.

Are transactions limited?

Yes. Federal regulations limit certain types of withdrawals or transfers from your money market account to a combined maximum of six per monthly statement period. If you exceed this limit, we are required to convert your account to one not subject to transfer limitations or close your account. #

Can I open an account with Union Bank if my account history has been reported to ChexSystems?

Yes. Please contact your local branch for further information. Restrictions may apply. Also, for some individuals that have a negative ChexSystems record, our Union Bank Access Account may be an option.

Can this account be used for Overdraft Protection?

Yes. If you enroll in Deposit Overdraft Protection, automatic transfers will be made from your MoneyMarket account to your checking account as needed. # Learn more about Overdraft Protection.

Can I set up automatic deposits to my MoneyMarket account?

Yes. You can set up recurring automatic deposits to your MoneyMarket account from your Union Bank checking account or any other external personal account. You can also set up recurring automatic deposits to a child's Kidz Savings account or Teen Savings account.

Can I use my MoneyMarket account to pay a Union Bank loan?

Yes. You can set up recurring automatic transfers from your MoneyMarket account to repay a Union Bank loan.

Can I receive a combined monthly statement for all my accounts?

Yes. You can combine up to 20 Union Bank checking, savings, and money market accounts into one organized monthly statement. Stop by any branch or log in to Online Banking for details. Please note, combined statements option is not available for online-only statements. For money market accounts, you may lose your Monthly Service Charge Discount if you choose paper statements.  Please see the Personal Accounts Fee Schedule.

How do I start banking online?

If you have a Union Bank MoneyMarket account, you can start banking online by enrolling in Online Banking. Sign up now to get started. For access from your smartphone or tablet, download our Mobile Banking app for iPhone®, iPad®, or Android™ devices from the app store. #

Can I check my MoneyMarket account balance on the telephone?

Yes. You can check your balances and even handle some transactions over the telephone. #  Use our automated Telephone Banking service or contact us at 1-800-238-4486.

 

Is an ATM or debit card available with my MoneyMarket account?

Union Bank offers an ATM card with a MoneyMarket account. A debit card is also available upon request. #

Time Deposits (CDs)

What is a CD?

A CD lets you earn a higher rate of interest for a preset period of time. A CD is a great fit if you don't need immediate access to your funds. For more account information and terms and conditions governing our Time Deposit Accounts, see our Time Deposit Accounts Disclosure and Personal Accounts Fee Schedule. For more information, visit your local branch or call us at 1-800-238-4486.

What is the minimum opening deposit?

The minimum opening deposit for a CD is $350 for a term of 32 days to 60 months, or $2,500 for a term of 7 to 31 days.

Do you offer Individual Retirement Account (IRA) CDs?

Yes. For more specific information regarding IRA savings products, please contact your local branch.

What happens at the maturity date?

CDs automatically renew for the same term, but at the interest rate in effect on the maturity date, unless you withdraw the funds on or within 10 days after the maturity date called the grace period (three day grace period for CDs with a maturity term of 31 days or less).

How is interest paid?

CDs offer a range of interest disbursement options. Interest is fixed for the term and you can designate interest be paid monthly, quarterly, semiannually, annually, or on the maturity date. For terms greater than one year, you can designate interest be paid monthly, quarterly, semiannually or annually. Terms 7 to 31 days, interest is paid only on the maturity date. For more account information and terms and conditions governing our Time Deposit Accounts, see our Time Deposit Accounts Disclosure and Personal Accounts Fee Schedule. For more information, visit your local branch or call us at 1-800-238-4486.

Interest is compounded daily except on deposits of $1 million or more, for which simple interest applies.

Can I make deposits or withdrawals?

Deposits can only be made during the grace period, and withdrawals must be made at maturity or during the grace period to avoid an Early Withdrawal Penalty.

Is there a balance required to avoid a monthly fee?

There are no monthly fees for CDs; however, Early Withdrawal Penalties or Compensating Penalties may apply if you withdraw funds prior to maturity. 

Can I check my CD balance on the telephone?

Yes. You can check your balances and even handle some transactions over the telephone. Use our automated Telephone Banking service or contact us at 1-800-238-4486. Online Banking customers can also check CD balances online. 

For account information and terms and conditions governing our deposit accounts, see our applicable Simply Stated Product Guide, Personal Accounts & Services Disclosure and Agreement, and Personal Accounts Fee Schedule. For more information, visit your local branch or call us at 1-800-238-4486.

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