Union Bank Review: High CD Rates for West Coast Customers

Take advantage of generous CD rates at Union Bank.

Union Bank is part of the global financial powerhouse Mitsubishi UFJ Financial Group, whose subsidiary companies include MUFG, Union Bank and PurePoint Financial. Union Bank offers personal, commercial, institutional and small business services. Here’s a brief look at the bank’s checking accounts, savings accounts, money market and CD accounts, including highlighted features and benefits of this top bank.

Union Bank Advantages and Disadvantages
  • Many products available
  • Low interest rates
  • Backed by global financial powerhouse
  • Monthly service account fees on some accounts
  • High 18 to 23 month CD rate for large deposits
  • Branches only in a few Western states
Information accurate as of Oct. 8, 2018.

In This Review:

What You Need to Know About Union Bank

Although regional in nature, with branches in California, Oregon, and Washington only, Union Bank is a full-service bank, with accounts to service every banking need.  

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Best for: Customers living in the Western U.S. who value the ability to have a diverse, traditional banking relationship more than earning the highest yields available on bank products

Related: Best Banks in California

Best Features of Union Bank

Union Bank’s greatest strength is in the depth of its account roster, as you can find any type of account you want. Here’s a quick look at some of the best features of the bank’s personal product lines.

  • Union Bank checking offers four types of accounts, including a teen account, a customizable account, a basic checking account and a premium option.
  • Union Bank savings account options include a traditional savings account and two types of money market accounts.
  • Union Bank CD options run from seven days to 60 months, and the 18 to 23 month CDs offer the best rates you can find at the entire bank, paying a 2.75% APY on deposits of at least $10,000.
  • Union Bank credit card options include a rewards card, a no annual fee credit card with a promotional 0% APY for 15 months on purchases and balance transfers, and a Union Bank secured credit card.
  • Union Bank mortgage options include both fixed-rate and adjustable-rate loans.

Learn: Banks That Don’t Use ChexSystems

Secondary Features of Union Bank

In addition to a broad array of accounts, Union Bank provides secondary services with its products.

Union Bank Online Banking

Online banking at Union Bank includes the following features:

  • Online bill pay
  • Online statements
  • Account alerts via email, text message or push notifications
  • Debit card fraud alerts via text an/or email
  • Guaranteed secure online banking experience

Union Bank Mobile Banking

Mobile banking at Union Bank provides the following services:

  • Mobile check deposit
  • View and transfer money via mobile app
  • View account balances, pending payments and transactions
  • Bill management via the app

Related: Here’s Your Union Bank Routing Number

Union Bank Locations

There are more than 350 Union Bank locations in California, Washington and Oregon. At each of these locations, or via the customer service line at 800-238-4486, you can discuss which of the numerous Union Bank products are the best fit for your needs.

Union Bank Is Best for West Coast Customers

Union Bank’s product line is wide enough to satisfy customers looking for any type of account. The interest rates paid across the board are not the best you can find, but there are pockets of high performance, such as in the 18 to 23 month CD rates. Other promotional offers might pop up from time to time. Customers living on the West Coast that are looking to develop an in-person banking relationship might value Union Bank’s regional focus, along with its broad product line. Those with complex financial needs that include business or commercial services as well mightappreciate having all of those services under one roof.

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    This content is not provided by the companies mentioned. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by Union Bank.

    About the Author

    After earning a B.A. in English with a Specialization in Business from UCLA, John Csiszar worked in the financial services industry as a registered representative for 18 years. Along the way, Csiszar earned both Certified Financial Planner and Registered Investment Adviser designations, in addition to being licensed as a life agent, while working for both a major Wall Street wirehouse and for his own investment advisory firm. During his time as an advisor, Csiszar managed over $100 million in client assets while providing individualized investment plans for hundreds of clients.