United Southern Bank Review

Overview

United Southern Bank was founded in 1937 with headquarters in Umatilla, Florida. It manages assets of $885.8 million and deposits totaling $783.7 million, classifying it as a medium-size bank. United Southern Bank has above-average access to customer service with a live chat feature, which is helpful for those that work during typical customer service hours. It is a conventional brick-and-mortar bank with access to service representatives at a physical location, in addition to its online and mobile apps. We gave United Southern Bank a 4.1 stars out of 5, indicating that it is a good bank that warrants your consideration. United Southern Bank provides customers with a full suite of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. United Southern Bank has a fair savings rate; other popular banks have higher rates. If you're looking for a checking account for everyday use, United Southern Bank offers an option without a monthly fee. Obtaining a checking account with no monthly fee, in addition to a savings account with a high APY at the same bank is the best bet for returning the most income on your deposits while maintaining convenient access to your money.

The overall rating is a weighted average of rates, fees, service quality and financial health.Read more

United Southern Bank features a savings rate of 0.05%, which is fair compared to the average U.S. bank. United Southern Bank's one-year CD earns at a rate of 0.15% and the five-year CD has a rate of 0.30%, while its highest-yielding money market account has an APY of 0.75%. Given United Southern Bank's noncompetitive savings rate, you should consider choosing another bank to earn more on your deposits.

How United Southern Bank's Savings Rates Compare

United Southern Bank has typically extremely low fees in comparison to the average U.S. bank. United Southern Bank's checking account has no monthly fee, making it excellent for anyone looking for a hassle-free account. United Southern Bank unfortunately does not reimburse out-of-network ATM fees, which means you will need to search for a United Southern Bank ATM or eat the cost of withdrawal.

United Southern Bank is a brick-and-mortar bank, with 14 total branches. It also offers access to mobile and web apps for straightforward access and banking on the go. It does not offer all-day customer service with representatives. You can get help during its hours, which are Monday through Thursday, 8:00 a.m. to 5:00 p.m. ET; Friday, and 8:00 a.m. to 6:00 p.m. ET. Additionally, United Southern Bank offers a live chat feature, which may provide helpful service without getting on the phone. United Southern Bank gets average marks from customers for its online presence. With 51 customer reviews on both Apple and Android platforms, the United Southern Bank mobile app rates a 3.6 out of 5 (compared to the national average of 3.8). You can utilize United Southern Bank's mobile app to control your accounts by checking monthly statements, transferring funds as well as accessing customer service. United Southern Bank receives a superb consumer satisfaction rating due to comparatively few complaints filed with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector.

United Southern Bank is currently a medium-size bank owning assets totaling $885.8 million as well as deposits totaling $783.7 million. Its Texas Ratio is 5.20%, indicating that the bank is in good financial condition and unlikely to fail. Additionally, United Southern Bank is FDIC-insured, meaning that your money is insured up to $250,000, even in the event of bank failure.

Texas Ratio Analysis

The Texas Ratio, a measure of a "bad assets" against available capital, can provide an early warning sign of bank failure. A low ratio indicates smaller chance of failure; a higher ratio suggests greater risk.

Products Offered

United Southern Bank offers several deposit products like savings accounts, checking accounts, money market accounts and CDs to give you many options to manage your money. United Southern Bank does not have the best savings rate, which means you should consider looking elsewhere for banks that deliver more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. United Southern Bank's CD rates are fair in comparison to the average U.S. bank.

Find a United Southern Bank Near Me

United Southern Bank has 14 physical branches in the U.S.