If you're building an emergency fund, saving for a big purchase, or getting money together to invest, using an insured savings account option can put you on the right road to meet your savings goals.
Statement Savings
A typical savings account option that works great for all you savings needs.
- Account Details: The minimum opening deposit is $50.00, which is waived if the account holder is under age 23. The monthly service charge is $2.00 which is waived if the account holder is under age 23. To avoid the monthly service charge, maintain a daily minimum balance of $200.00.
- Account Access: Easy access to your funds through Online and Mobile Banking. ATM access available, or tie this account to your Union Bank Debit Card.
- Interest Earned: This account earns a variable rate of interest. Interest is compounded monthly and paid monthly.
- Withdrawal Limits: Three (3) withdrawals per month, additional withdrawals $0.50 each. Limited withdrawals include staff-assisted transactions by telephone, mail or in person. Does not apply to ATM withdrawals.
Money Market Savings
A mid-tier savings tool for account holders that keep a bit of a higher balance.- Account Details: There is no minimum deposit to open. The monthly service charge is $6.00. To avoid the monthly service charge, maintain a monthly minimum balance of $1,000.00.
- Account Access: Easy access to your funds through Online and Mobile Banking. ATM access available, or tie this account to your Union Bank Debit Card.
- Interest Earned: This account earns a variable rate of interest. Interest is compounded daily and paid monthly.
- Withdrawal Limits: Six (6) withdrawals per month, additional withdrawals $6.00 each. Limited withdrawals include staff-assisted transactions by telephone, mail or in person. Does not apply to ATM withdrawals.
Premier Money Market
A great savings options for account holders looking to keep a high balance.
- Account Details: The minimum opening deposit is $5,000.00. Must have a primary Union Band checking account to open. The monthly service charge is $20.00. To avoid the monthly service charge, maintain a monthly minimum balance of $20,000.00.
- Account Access: Easy access to your funds through Online and Mobile Banking. ATM access available, or tie this account to your Union Bank Debit Card.
- Interest Earned: This account earns a variable rate of interest. Interest is compounded daily and paid monthly.
- Withdrawal Limits: Six (6) withdrawals per month, additional withdrawals $10.00 each. Limited withdrawals include staff-assisted transactions by telephone, mail or in person. Does not apply to ATM withdrawals.
Christmas Club Account
This is a savings account designed as a convenient, systematic way for you to save money for the holidays or other end of year expenses.
- Account Details: The minimum opening deposit is $5.00. There is no monthly service fee and no minimum balance requirement. We encourage you to set up an automatic deposit from another Union Bank account to help your savings add up faster.
- Interest Earned: This account earns a variable rate of interest. Customers receive an increased interest rate with an automatic deposit from another Union Bank account.
- Account Payout: The Christmas Club account term ends mid-October and the money you've saved will be transferred to your Union Checking Account. If no transfer account has been established, the account will continue to compound.
Health Savings Account (HSA)
With your HSA you, or a participating employer, can put money in to save for future medical expenses.
- Customer Eligibility: Must be covered by a qualifying High Deductible Health Plan (HDHP). Not enrolled in Medicare or any other health insurance. Also cannot be claimed as a dependent on another's tax return.
- Account Details: The minimum opening deposit is $50.00 There is a $25.00 one-time set-up fee. There is a $2.00 monthly service charge, however this monthly fee is waived if you maintain a minimum daily balance of $25,000 in combined deposits with The Union Bank Company.
- Interest Rate: A competitive interest rate is paid on all balances.
- Annual Contribution Limits: Contribution limits depend on Individual or Family Plan, as well as age. These limits may also change from year to year, so please refer to www.irs.gov/pub969 for full contribution details.
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