Savings, Money Market & CDs
Savings & Money Market
Dreaming of a new home, car, retirement or special vacation? Union Bank has the products you need to reach your goals—all with electronic services and FDIC insurance coverage up to the maximum amount allowed. Ask your bank representative for current interest rates.|
Product Name
|
Youth
Savings
|
Life
Savings
|
Christmas
Club
|
Superior Savings Money Market | Premium Savings Money Market |
|---|---|---|---|---|---|
| Description | For youth under age 18, this account is intended to teach young customers how to save. Limited transactions with a low monthly balance. Ask about our Ubee Kids' Club! | A simple account to save for life's everyday needs. Minimal requirements with easy access to funds. | The holidays are a breeze when you save ahead with weekly deposits into a Christmas Club account. Funds are dispersed in October. | Earn a superior rate of interest over a savings account. Includes account access through check writing. Requires a higher monthly balance. | Earn a premium rate of interest over a savings account. Includes account access through check writing and ATM/Debit Card. Requires a higher monthly balance. |
|
Minimum Balance to
Open Account
|
$5.00 | $50.00 | $1.00 | $5,000.00 | $50,000 |
|
Monthly
Average Balance
|
$5.00 | $200.00 | N/A | $5,000.00 | $50,000 |
|
Monthly
Service Charge
|
$5.00 if balance drops below minimum requirement. | $5.00 if balance drops below minimum requirement. | No monthly charge— penalty for early withdrawal. | $25.00 if balance drops below minimum requirement. | $35.00 if balance drops below minimum requirement. |
| How to Avoid Monthly Service Charge | Maintain monthly average balance. | Maintain monthly average balance. | N/A | Maintain monthly average balance. | Maintain monthly average balance. |
| ATM or Debit Card | None | ATM | None | ATM/Debit | ATM/Debit |
| Interest | Tiered Rates | Tiered Rates |
Variable rate paid at maturity | Tiered Rates | Tiered Rates |
| Transaction Limits | Four in-person withdrawals and six electronic debits per month. | Unlimited in-person withdrawals and six electronic debits per month. | No debit or withdrawal transactions allowed until maturity. | N/A | Six preauthorized transactions per month. Excess transfers/withdrawals are charged at $10.00 per item. |
| Statement | Sent quarterly, or monthly if electronic activity. | Sent quarterly, or monthly if electronic activity. | N/A |
Monthly | Monthly |
| Monthly Statement Options | Mailed, Combined or e-Statements. | Mailed, Combined or e-Statements. |
N/A |
Mailed, Combined or e-Statements. | Mailed, Combined or e-Statements. |
| Bounce Protection | N/A | N/A | N/A |
$1,000.00 | $1,000.00 |
| Online Banking | Available - Free | Available - Free |
Available - Free |
Available - Free |
Available - Free |
Certificate of Deposit
Maximize your earnings in time frames that will meet your cash flow requirements.
- Minimum opening deposit of $500.00 required. Maturity terms range from 91 days to 5 years.
- Additional deposits not accepted during the term. The certificate may be increased at the time of maturity or renewal.
- Interest rates determined by Union Bank. Your certificate will renew for the same term, at the interest rate in effect at the time of maturity, if you do not redeem it.
- Interest earned may be added back to the certificate, paid by check or deposited in a checking or savings account.
- There is a 10–day grace period after the maturity date in which withdrawals or deposits can be made. Withdrawals made after the 10th day will be assessed a penalty.
*NOTE: Penalty for early withdrawal on Certificates of Deposit. Minimum $500 deposit to open a new account.