Union Savings Bank

What Union Savings Bank does

Union Savings Bank (USB) is a privately held community bank founded in 1904 and headquartered in Cincinnati, Ohio, that serves retail consumers and mortgage borrowers across Ohio, Indiana, Kentucky, and Pennsylvania through 40+ full-service branches and lending offices, 500+ employees, and over 30,000 surcharge-free ATMs via the MoneyPass and Alliance One networks. Its flagship offering is residential and commercial mortgage lending — fixed, adjustable, FHA, VA, USDA, construction, HELOC, jumbo, blanket, investment property, and commercial real estate — with the bank claiming over $3.5 billion in mortgage loans funded in the most recent year referenced; complementary deposit products include Free Checking, NOW Checking, Advantage Checking (linked to an active USB mortgage), Senior Checking, Preferred Checking High Yield, Business Checking, Regular and Premium Passbook savings, OTMA/ITMA/PUTMA, Christmas Club, the state-treasury-administered Ohio Homebuyer Plus program, and high-yield CDs.

The digital platform is anchored by a web-based Online Banking portal and native iOS and Android Mobile Banking apps built on Fiserv core/mobile infrastructure, with third-party modules for bill pay (CheckFree, a Fiserv company), person-to-person payments (Zelle via Early Warning Services), and external account transfers (TransferNow via micro-deposit verification); security is layered with SSL encryption, two-factor authentication, out-of-band device registration codes, configurable SMS/email alerts, and fraud monitoring, with regulatory foundations in FDIC insurance, Equal Housing Lender status (NMLS# 446047), and GLBA-style privacy practices.

USB's business model is a standard community-bank net interest margin plus fee model: primary revenue from mortgage loan interest and origination/closing fees, supplemented by net interest spread on deposit balances, deposit service charges (overdraft transfer protection, cashier's checks, money orders, stop-payment, $50 rush payoff, duplicate statements), and CRA-aligned community grant activity. Distribution is direct-to-consumer through local loan officers, 40+ branch offices, 24/7 Phonelink, the website, and mobile apps; the bank markets organically via its Education Center blog, MoneyIQ financial-literacy programming, Facebook and LinkedIn, SMS/email alerts, and a Community Development Grants and sponsorship program targeting low- and moderate-income communities across its four-state footprint.

Name

Union Savings Bank

Legal name

Union Savings Bank

Website

https://usavingsbank.com

Company type

Private

Founded year

1904

Operating status

Operating

Headcount range

501–1,000 employees

Short description

Union Savings Bank is a privately held community bank founded in 1904 in Cincinnati, Ohio, providing residential and commercial mortgage lending, consumer deposit products, and digital banking to retail households across Ohio, Indiana, Kentucky, and Pennsylvania through 40+ branches and over 500 employees.

Ownership category

akta.pro rank

Product category

Community Banking

NAICS

Savings Institutions and Other Depository Credit Intermediation (522180), Depository Credit Intermediation (5221)

SIC

Savings Institutions, Not Federally Chartered (6036), Personal Credit Institutions (6141)

akta.pro primary industry

Mutual Savings Banks & Mutual Thrifts (FSABAEAD)

akta.pro secondary industry

Savings Banks (Public/State-Owned) (FSABAKAK)

Keywords

• Retail banking services
• Mortgage lending
• Consumer deposits
• Community banking
• Personal banking

Headquarters

HQ city

Cincinnati

HQ country

United States

HQ region

North America

Offices23 records

Markets served

GTM type

B2C

Offering type

Services

Cost components

Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure, Supply Chain, Others

Revenue model

1. Mortgage Loan Interest Income: Primary revenue stream from originating and servicing residential mortgage loans (Conventional, FHA, VA, USDA, Construction, Jumbo, HELOC, Blanket, Investment Property, Commercial Real Estate); USB funded over $3.5 billion in mortgage loans last year.
2. Deposit Account Service Charges and Fees: Revenue from deposit account-related fees per the USB fee schedule (overdraft transfer protection, cashier's checks, money orders, stop payment fees, rush payoff $50 fee, duplicate statement fees, and account-specific service charges on checking, savings, and CD products).
3. Net Interest Margin on Deposit Products: Interest-based revenue from customer deposit balances (Free Checking, NOW Checking, Preferred Checking high-yield, Premium Passbook, CDs, Christmas Club, OTMA/ITMA/PUTMA, IRA) and the Ohio Homebuyer Plus savings account.
4. Loan Origination and Closing Fees: Origination/closing-related revenue tied to mortgage and consumer loan production across Ohio, Indiana, Kentucky, and Pennsylvania, with low-cost pricing positioning.

Pricing tiers

Go-to-market motion1 record

Distribution channels7 records

Marketing channels8 records

Core offering

Union Savings Bank is a privately held community bank founded in 1904 and headquartered in Cincinnati, Ohio. It originates and services residential and commercial mortgage loans and offers consumer deposit products (checking, savings, CDs) across Ohio, Indiana, Kentucky, and Pennsylvania through a branch network of 40+ offices and an integrated online/mobile banking platform.

Product overview

Union Savings Bank is a community bank (founded 1904, headquartered in Cincinnati, Ohio) that delivers a unified personal-banking and mortgage-lending platform across Ohio, Indiana, Kentucky, and Pennsylvania. The core digital experience is anchored by Online Banking and Mobile Banking, which share authentication and expose the same set of payment modules — TransferNow® (external transfers), Zelle® (person-to-person payments), and Bill Pay powered by CheckFree — along with Remote Deposit Capture, alerts, and eStatements. Personal deposit products (Free Checking, NOW Checking, Advantage Checking, Senior Checking, Preferred Checking High Yield, Business Checking; Regular Passbook, Premium Passbook, OTMA/ITMA/PUTMA, Christmas Club, and the Ohio Homebuyer Plus savings program; and high-yield CDs) are layered on top of the same account infrastructure. Mortgage lending is the bank's flagship product line, spanning Fixed Rate, Adjustable Rate, FHA, VA, USDA, Construction, Home Equity / HELOC, Jumbo, Blanket, Investment Property, and Commercial Real Estate loans, supplemented by in-house Loan Servicing, the Borrower's Assistance Program (loss mitigation / foreclosure avoidance), and Community Development Grants. Security, compliance, and customer protection are layered on with FDIC insurance, Equal Housing Lender designation, SSL/VeriSign encryption, two-factor authentication, out-of-band device registration, and account/transaction alerts.

Differentiator

Problem solved

Functional benefit

Brands

• TransferNow®: USB's branded external transfer service that enables customers to move funds between Union Savings Bank accounts and accounts at other financial institutions.

Products and services

• Mortgage Loans Residential and commercial mortgage loan products (Fixed Rate, Adjustable Rate, FHA, VA, USDA, Construction, Home Equity, Jumbo, Blanket, Investment Property, Commercial Real Estate) for single-family, condo, townhome, 2-4 unit, multi-family, commercial, and vacant-lot properties across Ohio, Indiana, Kentucky, and Pennsylvania. USB funded over $3.5 billion in mortgage loans last year.
• Personal Checking Accounts Consumer checking accounts including Free Checking ($50 to open, $0 minimum), NOW Checking ($300 to open), Advantage Checking (requires USB mortgage with 24-month Easy Pay participation), Senior Checking (age 55+), Preferred Checking High Yield ($2,500 to open, $5,000 minimum for premium interest), and Business Checking for small businesses.
• Personal Savings Accounts Consumer savings products including Regular Passbook ($10 minimum, $100 minimum balance), Premium Passbook (High Yield), OTMA/ITMA/PUTMA (Uniform Transfer to Minors Act accounts), Christmas Club, and the Ohio Homebuyer Plus savings account; subject to Reg. D-style six-transfer-per-cycle limit.
• Certificates of Deposit (CDs) High-yield consumer certificates of deposit accessible via Online/Mobile Banking (view-only), positioned as having higher rates than most competitors.
• Online Banking Web-based banking portal providing 24/7 account access, fund transfers (including TransferNow), bill pay, eStatements, alerts, and Zelle person-to-person payments. Enrollment is free and required prior to Mobile Banking use.
• Mobile Banking App Native iOS and Android mobile banking application delivering account access, mobile check deposit (Remote Deposit Capture, $5,000 daily per-account limit), bill pay, alerts, internal and external (TransferNow) transfers, Zelle P2P payments, and branch/ATM locator; secured with out-of-band device registration codes.
• TransferNow External Transfers External account-to-account money-movement service embedded in Online Banking and Mobile Banking, supporting one-time and recurring transfers between Union Savings Bank accounts and accounts at other banks and credit unions via micro-deposit account verification using ABA routing numbers.
• Zelle Person-to-Person Payments

Segments6 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration6 records

Feature6 records

Scale indicators7 records

Recent moves6 records

Expansion highlights6 records

Direct peers

• WesBanco: Multi-state community bank operating across Ohio, Pennsylvania, and West Virginia with strong mortgage and consumer banking businesses. Comparable regional footprint, branch-led distribution, and deposit-gathering strategy to USB.
• Park National Corporation: Ohio-headquartered community bank holding company with community-banking subsidiaries across the Midwest and Southeast. Comparable in community-bank positioning, mortgage origination emphasis, and household-banking focus.
• Civista Bank: Ohio- and Indiana-based community bank offering consumer, mortgage, and small-business banking with a comparable regional deposit and lending footprint to USB.
• Liberty Savings Bank: Ohio-based mutual savings institution offering residential mortgages, deposit products, and community-focused banking. Closely comparable business mix and regulatory structure as a fellow Ohio savings bank.
• First Savings Financial Group: Indiana-headquartered community savings bank with residential mortgage and consumer banking operations. Comparable savings-bank charter and Midwest community-banking orientation.
• LCNB Corp. Ohio community bank holding company with consumer and mortgage lending plus deposit-gathering branches across southwest Ohio. Directly comparable in size, footprint, and community-bank value proposition.
• First Financial Bank: Cincinnati-headquartered community bank with multi-state Midwest footprint and a sizeable residential mortgage franchise alongside commercial and consumer banking. Closely comparable to USB in scale, geography, and integrated deposit-plus-mortgage model.

Broad incumbents

• Fifth Third Bank: Cincinnati-headquartered regional bank with a much larger retail, mortgage, and commercial banking franchise across USB's footprint. Overlaps directly with USB in Cincinnati and Ohio mortgage and consumer banking markets.
• PNC Financial Services: Pittsburgh-headquartered national bank with significant retail, mortgage, and wealth-management operations across Ohio, Indiana, Kentucky, and Pennsylvania. Largest direct competitor for household banking and mortgage origination in USB's footprint.
• Huntington Bancshares: Columbus, Ohio-based regional bank with extensive consumer, mortgage, and small-business banking across the Midwest. Competes directly with USB across Ohio, Indiana, and Kentucky branches and digital channels.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights7 records

Customer concentration

• Facebookfacebook.com/154454767956395
• LinkedInlinkedin.com/company/union-savings-bank

Compliance5 records

Revenue estimate

Valuation estimate

Number of profiles

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Union Savings Bank