USB Savings Accounts: The best way to pave the future you want.

Take the first step on your journey to smarter savings. Choose from our savings accounts to help you get where you want to be. As your Connecticut savings bank, we’re always here to help, every step of the way.

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ACCESS SAVINGS
Reach your goals faster with higher-yield savings and earn tiered interest as your balance increases.
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ESSENTIAL SAVINGS
An easy and smart way to pave the future you want, with a low $25 minimum opening balance.
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YOUNG SAVERS ACCOUNT
Have your child get started on a great habit early with a savings account that has no monthly service fee.
Find Out Details
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Manage your bank account with ease

With USB Digital Banking Tutor, you can learn how to use our online and mobile banking products so you can better manage your finances wherever you are, anytime you want.

Personal Savings Accounts - Savings

Here are a few specialized ways to save

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INDIVIDUAL RETIREMENT ACCOUNT (IRA)
Save for retirement and receive potential tax advantages.
Learn more
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CERTIFICATE OF DEPOSIT
Earn a higher interest rate than savings accounts.
Learn more
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MONEY MARKET
Earn the highest possible interest rate on your savings.
Learn more
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HEALTH SAVINGS ACCOUNT
Put personal savings aside for unexpected, covered, medical expenses.
Learn More
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CLUB SAVINGS ACCOUNTS
Holidays, vacations, and other big ticket items and events.
Learn More

INDIVIDUAL RETIREMENT ACCOUNT (IRA)

An IRA account is a great way to start saving for retirement or supplement your retirement savings, if you qualify. Traditional IRAs offer tax benefits and Roth IRAs allow tax-free withdrawals in the future. Both allow your contributions to grow tax-free. Find the IRA account that is right for you on our FutureTrack site by clicking here.

CERTIFICATE OF DEPOSIT


Certificates of Deposit (CDs) allow you to earn a higher interest rate than savings accounts when you don’t need every day access to your funds.

MONEY MARKET

Earn the highest possible interest rate on your savings. Enjoy limited check writing.

HEALTH SAVINGS ACCOUNT

If you have a High Deductible Health Plan (HDHP), you are eligible to create a tax advantaged Health Savings Account (HSA). It’s a great way to put personal savings aside for unexpected, covered, medical expenses; savings that grow tax free. Rules and restrictions can get a bit complicated – learn more in our FAQ section.

CLUB SAVINGS ACCOUNTS

Holidays, vacations, and other big ticket items and events. There’s no money stress when you plan ahead. Set aside as little as five dollars a week, earn interest and receive statements to chart your personal savings progress as you inch closer to your goal.

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USB Savings Rates

Updated September 22, 2020
    • Annual Percentage Yield (APY)*
    • $0.01-$9,999.99
    • 0.03%
    • $10,000.00 - $24,999.99
    • 0.05%
    • $25,000.00 - $49,999.99
    • 0.05%
    • $50,000.00 - $99,999.99
    • 0.07%
    • $100,000.00 - $249,999.99
    • 0.10%
    • $250,000.00+
    • 0.10%
    • Interest Rate
    • $0.01-$9,999.99
    • 0.03%
    • $10,000.00 - $24,999.99
    • 0.05%
    • $25,000.00 - $49,999.99
    • 0.05%
    • $50,000.00 - $99,999.99
    • 0.07%
    • $100,000.00 - $249,999.99
    • 0.10%
    • $250,000.00+
    • 0.10%
    • Frequency Of Rate Change**
    • Variable
    • Interest Compounding
    • Monthly
    • Interest Credited
    • Monthly
    • Minimum Balance To Open Account
    • $300.00
    • Minimum Balance To Earn APY
    • $0.01
Updated September 22, 2020
    • Annual Percentage Yield (APY)*
    • 0.03%
    • Interest Rate
    • 0.03%
    • Frequency of Rate Change**
    • Variable
    • Interest Compounding
    • Monthly
    • Interest Credited
    • Monthly
    • Minimum Balance To Open Account
    • $25
    • Minimum Balance To Earn APY
    • $0.01
Updated September 22, 2020
    • Annual Percentage Yield*
    • 91 Day
    • 0.10%
    • 6 Month
    • 0.15%
    • 9 Month
    • 0.20%
    • 12 Month
    • 0.25%
    • 18 Month
    • 0.35%
    • 18 Month Variable Rate
    • 0.15%
    • 24 Month
    • 0.50%
    • 36 Month
    • 0.60%
    • 48 Month
    • 0.70%
    • 60 Month
    • 1.00%
    • Interest Rate
    • 91 Day
    • 0.10%
    • 6 Month
    • 0.15%
    • 9 Month
    • 0.20%
    • 12 Month
    • 0.25%
    • 18 Month
    • 0.35%
    • 18 Month Variable Rate
    • 0.15%
    • 24 Month
    • 0.50%
    • 36 Month
    • 0.60%
    • 48 Month
    • 0.70%
    • 60 Month
    • 1.00%
    • Frequency of Rate Change**
    • 91 Day
    • At Maturity
    • 6 Month
    • At Maturity
    • 9 Month
    • At Maturity
    • 12 Month
    • At Maturity
    • 18 Month
    • At Maturity
    • 18 Month Variable Rate
    • Variable
    • 24 Month
    • At Maturity
    • 36 Month
    • At Maturity
    • 48 Month
    • At Maturity
    • 60 Month
    • At Maturity
    • Interest Compounding
    • 91 Day
    • Monthly
    • 6 Month
    • Monthly
    • 9 Month
    • Monthly
    • 12 Month
    • Monthly
    • 18 Month
    • Monthly
    • 18 Month Variable Rate
    • Monthly
    • 24 Month
    • Monthly
    • 36 Month
    • Monthly
    • 48 Month
    • Monthly
    • 60 Month
    • Monthly
    • Interest Credited
    • 91 Day
    • Monthly
    • 6 Month
    • Monthly
    • 9 Month
    • Monthly
    • 12 Month
    • Monthly
    • 18 Month
    • Monthly
    • 18 Month Variable Rate
    • Monthly
    • 24 Month
    • Monthly
    • 36 Month
    • Monthly
    • 48 Month
    • Monthly
    • 60 Month
    • Monthly
    • Minimum Opening Deposit Required
    • 91 Day
    • $1,000.00
    • 6 Month
    • $1,000.00
    • 9 Month
    • $1,000.00
    • 12 Month
    • $1,000.00
    • 18 Month
    • $1,000.00
    • 18 Month Variable Rate
    • $1,000.00
    • 24 Month
    • $1,000.00
    • 36 Month
    • $1,000.00
    • 48 Month
    • $1,000.00
    • 60 Month
    • $1,000.00
    • Minimum Balance to Earn APY
    • 91 Day
    • $0.01
    • 6 Month
    • $0.01
    • 9 Month
    • $0.01
    • 12 Month
    • $0.01
    • 18 Month
    • $0.01
    • 18 Month Variable Rate
    • $0.01
    • 24 Month
    • $0.01
    • 36 Month
    • $0.01
    • 48 Month
    • $0.01
    • 60 Month
    • $0.01
Updated September 22, 2020
    • Annual Percentage Yield*
    • 91 Day
    • 0.10%
    • 6 Month
    • 0.15%
    • 9 Month
    • 0.20%
    • 12 Month
    • 0.25%
    • 18 Month
    • 0.35%
    • 18 Month Variable Rate
    • 0.15%
    • 24 Month
    • 0.50%
    • 36 Month
    • 0.60%
    • 48 Month
    • 0.70%
    • 60 Month
    • 1.00%
    • Interest Rate
    • 91 Day
    • 0.10%
    • 6 Month
    • 0.15%
    • 9 Month
    • 0.20%
    • 12 Month
    • 0.25%
    • 18 Month
    • 0.35%
    • 18 Month Variable Rate
    • 0.15%
    • 24 Month
    • 0.50%
    • 36 Month
    • 0.60%
    • 48 Month
    • 0.70%
    • 60 Month
    • 1.00%
    • Frequency of Rate Change**
    • 91 Day
    • At Maturity
    • 6 Month
    • At Maturity
    • 9 Month
    • At Maturity
    • 12 Month
    • At Maturity
    • 18 Month
    • At Maturity
    • 18 Month Variable Rate
    • Variable
    • 24 Month
    • At Maturity
    • 36 Month
    • At Maturity
    • 48 Month
    • At Maturity
    • 60 Month
    • At Maturity
    • Interest Compounding
    • 91 Day
    • Monthly
    • 6 Month
    • Monthly
    • 9 Month
    • Monthly
    • 12 Month
    • Monthly
    • 18 Month
    • Monthly
    • 18 Month Variable Rate
    • Monthly
    • 24 Month
    • Monthly
    • 36 Month
    • Monthly
    • 48 Month
    • Monthly
    • 60 Month
    • Monthly
    • Interest Credited
    • 91 Day
    • Monthly
    • 6 Month
    • Monthly
    • 9 Month
    • Monthly
    • 12 Month
    • Monthly
    • 18 Month
    • Monthly
    • 18 Month Variable Rate
    • Monthly
    • 24 Month
    • Monthly
    • 36 Month
    • Monthly
    • 48 Month
    • Monthly
    • 60 Month
    • Monthly
    • Minimum Opening Deposit Required
    • 91 Day
    • $1,000.00
    • 6 Month
    • $1,000.00
    • 9 Month
    • $1,000.00
    • 12 Month
    • $1,000.00
    • 18 Month
    • $1,000.00
    • 18 Month Variable Rate
    • $1,000.00
    • 24 Month
    • $1,000.00
    • 36 Month
    • $1,000.00
    • 48 Month
    • $1,000.00
    • 60 Month
    • $1,000.00
    • Minimum Balance to Earn APY
    • 91 Day
    • $0.01
    • 6 Month
    • $0.01
    • 9 Month
    • $0.01
    • 12 Month
    • $0.01
    • 18 Month
    • $0.01
    • 18 Month Variable Rate
    • $0.01
    • 24 Month
    • $0.01
    • 36 Month
    • $0.01
    • 48 Month
    • $0.01
    • 60 Month
    • $0.01
Updated September 22, 2020
    • Annual Percentage Yield*
    • $0.01-$24,999.99
    • 0.03%
    • $25,000.00 - $49,999.99
    • 0.05%
    • $50,000.00 - $99,999.99
    • 0.10%
    • $100,000.00+
    • 0.15%
    • Interest Rate
    • $0.01-$24,999.99
    • 0.03%
    • $25,000.00 - $49,999.99
    • 0.05%
    • $50,000.00 - $99,999.99
    • 0.10%
    • $100,000.00+
    • 0.15%
    • Frequency of Rate Change**
    • $0.01-$24,999.99
    • Variable
    • $25,000.00 - $49,999.99
    • Variable
    • $50,000.00 - $99,999.99
    • Variable
    • $100,000.00+
    • Variable
    • Interest Compounding
    • $0.01-$24,999.99
    • Monthly
    • $25,000.00 - $49,999.99
    • Monthly
    • $50,000.00 - $99,999.99
    • Monthly
    • $100,000.00+
    • Monthly
    • Interest Credited
    • $0.01-$24,999.99
    • Monthly
    • $25,000.00 - $49,999.99
    • Monthly
    • $50,000.00 - $99,999.99
    • Monthly
    • $100,000.00+
    • Monthly
    • Minimum Opening Balance
    • $0.01-$24,999.99
    • $500.00
    • $25,000.00 - $49,999.99
    • $500.00
    • $50,000.00 - $99,999.99
    • $500.00
    • $100,000.00+
    • $500.00
    • Minimum Balance to Earn APY
    • $0.01-$24,999.99
    • $0.01
    • $25,000.00 - $49,999.99
    • $0.01
    • $50,000.00 - $99,999.99
    • $0.01
    • $100,000.00+
    • $0.01
Updated September 22, 2020
    • Annual Percentage Yield*
    • $0.01-$999.99
    • 0.05%
    • $1,000.00 - $4,999.99
    • 0.05%
    • $5,000.00 - $14,999.99
    • 0.10%
    • $15,000.00 - $24,999.99
    • 0.15%
    • $25,000.00+
    • 0.20%
    • Interest Rate
    • $0.01-$999.99
    • 0.05%
    • $1,000.00 - $4,999.99
    • 0.05%
    • $5,000.00 - $14,999.99
    • 0.10%
    • $15,000.00 - $24,999.99
    • 0.15%
    • $25,000.00+
    • 0.20%
    • Frequency of Rate Change**
    • $0.01-$999.99
    • Variable
    • $1,000.00 - $4,999.99
    • Variable
    • $5,000.00 - $14,999.99
    • Variable
    • $15,000.00 - $24,999.99
    • Variable
    • $25,000.00+
    • Variable
    • Interest Compounding
    • $0.01-$999.99
    • Monthly
    • $1,000.00 - $4,999.99
    • Monthly
    • $5,000.00 - $14,999.99
    • Monthly
    • $15,000.00 - $24,999.99
    • Monthly
    • $25,000.00+
    • Monthly
    • Minimum Opening Balance
    • $0.01-$999.99
    • $0.00
    • $1,000.00 - $4,999.99
    • $0.00
    • $5,000.00 - $14,999.99
    • $0.00
    • $15,000.00 - $24,999.99
    • $0.00
    • $25,000.00+
    • $0.00
    • Minimum Balance to Earn APY
    • $0.01 - $999.99
    • $0.01
    • $1,000.00 - $4,999.99
    • $0.01
    • $5,000.00 - $14,999.99
    • $0.01
    • $15,000.00 - $24,999.99
    • $0.01
    • $25,000.00+
    • $0.01
Updated September 22, 2020
    • Annual Percentage Yield*
    • 0.03%
    • Interest Rate
    • 0.03%
    • Amount of Time Interest Rate in Effect
    • Variable
    • Interest Compounded
    • Simple
    • Interest Credited
    • Annually
    • Minimum Opening Deposit Required
    • $5.00
    • Minimum Balance to Earn APY
    • $0.01
Updated September 22, 2020
    • Annual Percentage Yield (APY)*
    • $0.01 - $4,999.99
    • 0.10%
    • $5,000+
    • 0.15%
    • Interest Rate
    • $0.01 - $4,999.99
    • 0.10%
    • $5,000+
    • 0.15%
    • Frequency of Rate Change**
    • Variable
    • Interest Compounding
    • Monthly
    • Interest Credited
    • Monthly
    • Minimum Balance to Open Account
    • $5.00
    • Minimum Balance to Earn APY
    • $0.01

Personal Banking FAQs

How is interest calculated on my savings account?

Interest is compounded monthly and credited monthly, unless otherwise noted. The interest rate is variable, meaning the interest rate and annual percentage yield (APY) may change as often as daily, at our discretion. We use the daily balance computation to calculate the interest on your account. This method applies a daily periodic rate to the principal in that account each day.

Is there a minimum deposit required to open a Union Savings Bank personal savings account?

The minimum opening deposit varies depending on the type of savings account: Club Savings and Young Savers Account is $5.00; Essential Savings is $25, Landlord/Tenant Savings is $100.00; and Access Savings is $300.00. See all the features of a Union Savings Bank personal savings account here

What type of personal savings accounts does Union Savings Bank offer?

Union Savings Bank offers a variety of savings products for every budget. Many feature flexible maturity periods designed to suit your financial needs:

• Essential Savings
• Access Savings
• Young Savers Account
• Club Savings Account
• Landlord/Tenant Account
• Personal Money Market
• Certificates of Deposit
• Health Savings Accounts

Do I get a free USB savings account when I open a USB checking account?

No, you must open and fund a personal savings account separately from your checking account. Find out which personal savings account is right for you.

Your Future Starts Now

We can help you focus on your life stage financial planning journey, whether you’re just getting started or well on your way. Our FutureTrack website can help you get thinking, but come in and see us – we’ll discuss your goals and help you reach them.

Investing and financial planning services. Simplified under one roof.

Our mortgage, HELOC and consumer loans make your life easier.

down arrow Disclaimers

1 There are 3 ways to waive the $5.00 monthly service fee: Maintain a $500 minimum daily balance during the statement cycle; OR account holders who are 18 years of age or younger or 60 years of age or older; OR primary owner of Access Savings is an owner of Access Checking account.

2 There are 3 ways to waive the $3.00 monthly service fee: Maintain a $300 minimum daily balance during the statement cycle; OR account holders who are 18 years of age or younger or 60 years of age or older; OR primary owner of Essential Savings is an owner of Essential Checking account.

eStatements are available. You may choose to receive a combined monthly statement for any account you have with us.

The creditor and issuer of these Cards is Elan Financial Services. Separate credit application and credit approval required. Applicant must be 21 years or older to apply individually, or 18 years or older and apply as a joint applicant with a parent/guardian.

***  Young Savers accounts are intended for customers under the age of 21 and will be converted to an Essential Savings account when the account holder reaches the age of 21.

UNION SAVINGS BANK RATE DISCLAIMERS

*Fees may reduce earnings
**Rates may change after the account is opened
†Subject to rules for IRA accounts. Additional prior and current year contributions are allowed for all IRA CDs listed above.

Read all disclosures that apply to your account, including the Consumer Deposit Agreement and Schedule of Interest and Deposit Account Charges.

You may make up to six (6) pre-authorized or telephone transfers per statement cycle. If you exceed this limit during any cycle, additional fees will apply. Withdrawals are not allowed on Club Accounts outside of the distribution date.

Annual Percentage Yield: Assumes interest remains on deposit in your account to maturity. A withdrawal will reduce earnings.

Variable Rate Accounts: The interest rate and annual percentage yield may change as often as daily, at our discretion.

Interest Accrual: Interest begins to accrue no later than the business day we receive credit for the deposit of non-cash items (for example, checks).

Balance Computation Method: We use the daily balance computation to calculate the interest on your account. This method applies a daily periodic rate to the principal in the account each day.

Substantial penalty for early withdrawal from CD accounts, please refer to the Consumer Deposit Agreement.

Penalty may affect principal balance.

Simple: Simple interest is paid and interest is not compounded.