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Savings & Investments

 Whether saving for vacation, college or retirement, Union Bank has a savings/investment account just for you. Money Market, Savings, Certificates of Deposit, Kid$ Ka$h Klub and Individual Retirement Accounts – put your money to work for you with one of these savings plans!

MONEY MARKET ACCOUNT

  • $1,000 minimum balance requirement ($12 charge will be imposed if balance falls below $1,000 any day during the month).
  • Tiered interest rates based on balance:
    1. $1000-$9,999
    2. $10,000-$24,999
    3. $25,000 & over
  • Refer to our rate sheet for interest. Interest subject to change at any time.
  • Interest will be compounded monthly and credited to customer’s account every month. If account is closed before interest is credited, accrued interest is forfeited.
  • Restricted transactions – transfers from this account to another account or to third parties by pre-authorized, automatic, or telephone transfer are limited to 6 per statement cycle.  (a $1.00 charge will be assessed for each debit transaction in excess of 6 during the statement cycle.)
  • Unrestricted transactions – an unlimited number of withdrawals or transfers may be made by mail or telephone (when the check is mailed to the depositor) or when made in person, by messenger or through an ATM. Also, and unlimited number of transfers may be made to repay loans and associated expenses at the same bank.
  • This account is not eligible for automatic overdraft privileges.
  • Corporations, partnerships and sole proprietorships are eligible for this account.

REGULAR SAVINGS ACCOUNT

  • Interest: refer to our rate sheet for interest. Interest subject to change at any time. Interest will be compounded quarterly and credited to customer’s account every quarter. If account is closed before interest is credited, accrued interest is forfeited.
  • Restricted transactions – transfers from this account to another or to third parties by pre-authorized, automatic, or telephone transfers are limited to 6 per month (a $1.00 charge will be assessed for each debit transaction in excess of 3 per month.)
  • Unrestricted transactions – an unlimited number of withdrawals or transfers may be made by mail or telephone (when the check is mailed to the depositor) or when made in person, by messenger or through an ATM. Also, an unlimited number of transfers may be made to repay loans and associated expenses at the same institution.
  • Fees: a service charge fee of $2.00 will be imposed every month if account balance falls below $100 any day of the month.
  • Statements are mailed monthly if the account has any EFTs (meaning electronic deposits or withdrawals); otherwise, statements are mailed quarterly.
  • $100 minimum opening and re-opening deposit.
  • Service charge will be waived if you are 18 and younger.


KID$ KA$H KLUB SAVINGS ACCOUNT

  • $10.00 opening and re-opening deposit.
  • Exclusive account to customers age 13 and under.
  • Interest: refer to our rate sheet for interest. Interest will be compounded quarterly and credited to customer’s account every quarter. If account is closed before interest is credited, accrued interest is forfeited.
  • Restricted transactions – transfers from this account to another account or to third parties by pre-authorized, automatic, or telephone transfer are limited to 6 per month. (a $1.00 charge will be assessed for each debit transaction in excess of 3 per month.)
  • Unrestricted transactions – an unlimited number of withdrawals or transfers may be made by mail or telephone (when the check is mailed to the depositor) or when made in person, by messenger or through an ATM. Also, an unlimited number of withdrawals or transfers may be made to repay loans and associated expenses at the same institution.
  • Birthday letters mailed to account holders and activities are held during the year for Kid$ Ka$h Klub members.
  • Statements are mailed monthly if the account has any EFTs (meaning electronic deposits or withdrawals); otherwise, statements are mailed quarterly.
  • Service charge will be waived if you are 18 and younger.


HEALH SAVINGS ACCOUNT

  • No monthly service charge regardless of balance.
  • Unlimited check writing and debit card.
  • $25 minimum opening and re-opening deposit.
  • Monthly statement with images.
  • Earns interest.

CERTIFICATES OF DEPOSIT

  • Certificates are purchased for a specific amount, term and rate.
  • Terms available range from 31 days to 60 months.
  • Interest rate determined by term.
  • Interest can be added to the value of the certificate; credited to a checking or savings account or paid by check.
  • Substantial penalty for withdrawal before maturity.

INDIVIDUAL RETIREMENT ACCOUNTS

Union Bank of Mena has three IRA choices. Choose from the Traditional Individual Retirement Account, the Roth IRA, and the Educational IRA, depending on your individual and family needs. For detailed information, please contact our New Accounts Department at (479) 394-2211 or e-mail us at custsvc@unionbankofmena.com

with no more than 3 by check, draft or similar order to third parties. Simply stated̃ 3 inside transactions, 3 outside transactions. 

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