Union Bank Review 2020

Union Bank lets you choose a term that’s perfect for you. It offers terms ranging from a seven-day CD up to a five-year CD. Most of these CDs only require a $250 minimum deposit to open the product, which helps make this CD an option for savers of all levels.

Union Bank offers one savings account for adults: the Regular Savings account. You only need $50 to open this account.

The Regular Savings account charges you a $4 monthly maintenance fee. But you can avoid this fee by either keeping at least $300 in the account or by making at least a $25 deposit at least once a month.

Union Bank also offers a savings account for children ages eight to 12. This account turns into a Teen Savings account, for ages 13-17, and then becomes a Regular Savings account once the customer is 18 or older.

Union Bank has two checking account options.

The Bank Freely checking account doesn’t charge you a monthly maintenance fee and you can open it with any initial deposit of a penny or more. With the account, you will get two rebates per statement when you use ATMs outside of Union Bank’s network.

To avoid the $25 monthly maintenance fee, the Priority Banking checking account requires you to keep a $25,000 monthly average ledger balance. You can also avoid the fee if you have a mortgage at Union Bank. The Priority Banking checking account offers perks, such as unlimited reimbursement of out-of-network ATM fees and offering some interest.

You’ll need $2,500 to open a MoneyMarket account at Union Bank. After opening a Union Bank  MoneyMarket account, you’ll want to keep at least $2,500 in it every day to avoid the monthly maintenance fee.

This money market account lets you access your money by using an ATM or debit card or checks. The Union Bank MoneyMarket account lets you write up to six checks per statement period.