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Municipal Services
Money Market
Deposit Collateralization—
Union Bank offers Deposit Collateralization for municipalities whose deposits exceed the FDIC insurance threshold. Please ask one of our municipal officers for details.
If you are looking for premium interest rates, a Money Market account gives you access to cash reserves with check writing capability without sacrificing security, liquidity or flexibility. Tiered earned interest accrues daily on your balance of $500 or more and is compounded and credited monthly.
There is no monthly fee on accounts with a $1,000 minimum daiy balance; accounts not maintaining a $1,000 miminum daily balance incur a $5 fee.
Tiers for interest rates assignments are as follows:
- Tier 1: $500--$9,999
- Tier 2: $10,000--$49,999
- Tier 3: $50,000--$99,999
- Tier 4: $100,000--$499,999
- Tier 5: $500,000 and up
Transfers from your account are limited to six per statement period via automatic, electronic and telephone means. Transfers and withdrawals in person are unlimited.
