What Union Bank does

Union Bank, Inc. (NASDAQ: UNB) is a publicly traded, Vermont-chartered community bank headquartered in Morrisville, Vermont, founded in 1891 and operating 18-19 branches across Northern Vermont and Northern New Hampshire. The bank serves individual consumers, small-to-medium businesses, government and municipal entities, and wealth management clients through deposits, mortgage and consumer lending, commercial financing (including SBA, real estate, term loans, and lines of credit), cash management, and merchant services. Its distribution model is relationship-led, combining physical branches and dedicated Loan Centers (Williston, St. Johnsbury) with mortgage officers deployed across both states. The technology stack centers on a standard digital banking platform (online banking at secure.ublocal.com, a mobile banking app with mobile check deposit and Apple Pay), EMV chip debit cards (including Mastercard World with travel/insurance benefits), Quicken/QuickBooks integration, and a recently added 'Ask a Loan Officer' real-time chat tool for mortgage customers.

Name

Union Bank

Legal name

Union Bank, Inc.

Website

https://ublocal.com

Company type

Public

Founded year

1891

Operating status

Operating

Headcount range

101–250 employees

Short description

Union Bank is a 135-year-old Vermont-chartered community bank operating 18-19 branches across Northern Vermont and New Hampshire, serving retail consumers, small businesses, municipalities, and wealth clients with deposits, mortgage lending, and commercial financing.

Ownership category

akta.pro rank

Headquarters

HQ city

Morrisville

HQ country

United States

HQ region

North America

Offices16 records

Markets served

GTM type

B2B and B2C

Offering type

Services

Cost components

Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales

Revenue model

1. Net Interest Income: Primary revenue source from interest earned on loans (mortgages, commercial loans, consumer loans) and securities portfolios. Net interest income increased $1.0 million in Q1 2026 compared to prior year period.
2. Banking Fees and Service Charges: Monthly service fees on checking and savings accounts, overdraft fees, and other banking service charges
3. Certificate of Deposit Programs: Traditional CDs and CDARS certificates providing FDIC-insured deposits with competitive interest rates
4. Mortgage Lending Revenue: Revenue from mortgage originations including conventional, FHA, VA, VHFA, and construction loans for residential properties

Pricing tiers

Go-to-market motion1 record

Distribution channels5 records

Marketing channels7 records

Core offering

Union Bank is a Vermont-chartered community bank operating 18-19 branches across Northern Vermont and New Hampshire, providing deposit accounts (checking, savings, money market, CDs), mortgage origination (conventional, FHA, VA, VHFA, construction), consumer and commercial lending, business banking, government/municipal banking, and wealth management/trust services. The bank supplements its physical branch network with digital banking (online and mobile), EMV chip debit cards, Mastercard World debit cards, and Apple Pay integration.

Differentiator

Problem solved

Functional benefit

Brands

• Advantage Banking: Premium banking product tier for customers maintaining higher deposit relationships ($10,000-$100,000+ average balances), offering special perks including preferred rates on CDs, IRAs, and Money Market accounts.
• Save For Success
• VIP Program

Products and services

• UB Checking Basic personal checking account with $2.50/month fee (waived with $250 minimum daily balance and eStatements), free access to Allpoint ATM network, available to individual consumers in Vermont and New Hampshire.
• UB 55 Checking Checking account for customers age 55 and older with no monthly service fee, no minimum balance requirement, variable-tiered interest rate, and unlimited check writing.
• Advantage Banking Package Tiered premium checking product line (Basic Advantage, Advantage, and Advantage Checking Plus) for relationship banking customers maintaining $10,000 to $100,000+ average balances, offering preferred CD/IRA/Money Market rates, ATM fee rebates, free checks, and wealth management review.
• Statement Savings Account Personal savings account for individual consumers with minimum $25 opening deposit, used for accumulating funds and earning interest.
• Certificate of Deposit (CD) Fixed-term deposit product with terms from 6 months to 5 years, FDIC-insured, available as traditional CDs and CDARS certificates with competitive fixed interest rates.
• Money Market Account Interest-bearing personal deposit account with tiered rates, available to individual consumers seeking higher yields than standard savings.
• Individual Retirement Account (IRA) Retirement savings account offered to individual consumers for tax-advantaged retirement planning.
• Mortgage Loans Residential mortgage origination including conventional, FHA, VA, VHFA, NHHFA, and construction/renovation loans, with rates ranging from approximately 5.75% to 8.25% depending on loan type and term. Available to home buyers and homeowners in Vermont and New Hampshire.
• Personal Installment Loans Fixed-term consumer installment loans for individual borrowers for personal use.
• Home Equity Loan Loan secured by residential real estate equity, available to homeowners for various personal uses.
• Visa Credit Card Personal Visa credit card product available to individual consumers, with online account access via mycardstatement.com.
• Business Checking Standard business checking account for small to medium-sized businesses, local merchants, farms, and professional practices in Vermont and New Hampshire.
• Business Checking with Interest Interest-bearing business checking account for commercial customers who maintain operating balances.
• Non-Profit Business Checking Checking account tailored for non-profit organizations, with features suited to non-profit cash management.
• Commercial Statement Savings and Money Market Savings and money market deposit products for business customers to hold operating reserves.
• Small Business Administration (SBA) Loans Government-backed SBA loans for small businesses in Vermont and New Hampshire to support working capital, expansion, and acquisition needs.
• Commercial Real Estate Loans Real estate financing for commercial property acquisition, development, and refinancing by business borrowers.
• Commercial Term Loans Fixed-term commercial loans for business purposes such as equipment purchases, expansion, and other capital needs.
• Commercial Lines of Credit Revolving credit facilities for business customers to manage working capital and short-term funding needs.
• Cash Management Services Treasury and cash management solutions for business customers, including remote deposit capture, positive pay, ACH filtering, and payroll/HR services.
• Merchant Services Payment processing services for business customers to accept card and electronic payments.
• Government and Municipal Banking Municipal deposit accounts and municipal financing for towns, municipalities, and local government entities in Vermont and New Hampshire.
• Wealth Management and Trust Services Investment management, personal trusts, retirement strategies, estate services, and commercial client wealth services for high-net-worth individuals, families, and businesses.
• Online and Mobile Banking Digital banking platform with secure online banking, mobile app with mobile check deposit and Apple Pay support, bill pay, fund transfers, and integration with Quicken and QuickBooks.
• Ask a Loan Officer Chat Online chat tool connecting customers with mortgage lenders via video, audio, phone, or live chat, with co-browsing capability. Available to realtors and potential borrowers as a referral-based mortgage lending channel.

Quantifiable outcome

• 26.5% annual profit growth in 2025
• +3 more outcomes

Segments5 records

Ideal customer profiles4 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Integration4 records

Feature3 records

Partnerships

One partnership is on record.

• AHEAD (Housing Counseling Agency)minorStrategic or Co-development PartnerUnion Bank partners with AHEAD, a HUD-certified Housing Counseling agency, to provide homebuyer education and counseling services to potential borrowers in New Hampshire. The partnership offers workshops with a 50% discount for Union Bank customers using coupon code UNIONBANK, supporting first-time homebuyers in accessing affordable housing financing options.

Scale indicators13 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Bar Harbor Bankshares: Maine-based community bank holding company (BHB on NYSE) of comparable size with a similar rural New England footprint, mortgage banking emphasis, and consumer/SMB deposit franchise — directly comparable along geography, product mix, and customer segments.
• Northeast Bank: Maine-chartered community bank (NBN on Nasdaq) with a similar Northern New England footprint, SBA loan origination focus, and small-cap community banking profile; competes for the same customer base and operates a comparable community-bank model.
• Community Bank System: Upstate New York-based community bank holding company (CBU on NYSE) of similar scale with diversified retail, commercial, and mortgage lending — directly comparable business model as a publicly traded multi-branch community bank.
• Camden National Bank: Maine-based community bank (CAC on NYSE) of similar size and Northern New England footprint; competes with Union Bank in the same geographic and customer segment with comparable mortgage, wealth, and SMB lending products.
• Tompkins Financial: Upstate New York/Pennsylvania regional community bank holding company (TMP on NYSE) with a similar relationship-led multi-branch model, mortgage emphasis, and wealth management services — highly comparable operating philosophy.
• Independent Bank Corp: Massachusetts-based community bank holding company (INDB on Nasdaq) serving Eastern Massachusetts and Rhode Island with similar consumer, mortgage, and small business banking services; comparable size and community banking profile.
• Berkshire Hills Bancorp: New England regional bank holding company (BHLB on NYSE) with similar community banking, mortgage, and wealth management offerings; comparable scale and multi-branch operating model.
• S&T Bancorp: Pennsylvania-based community bank holding company (STBA on Nasdaq) of comparable size with similar consumer, mortgage, commercial, and wealth management lines — directly comparable as a publicly traded regional community bank.
• Ledyard Financial Group: New Hampshire-based community bank holding company (LFGP on OTC) operating in the Upper Valley region adjacent to Union Bank's New Hampshire footprint; directly comparable geographic peer with similar community banking and trust services.
• Passumpsic Savings Bank: Vermont-headquartered community savings bank founded in 1853 with branches across Northern Vermont including St. Johnsbury — directly overlaps Union Bank's geography and competes for the same consumer, mortgage, and small business customers.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks6 records

Key highlights7 records

Customer concentration

• YouTubeyoutube.com/channel/UCTDDMMw14gwIZ5AslK2GXUw
• Facebookfacebook.com/UnionBankVT
• LinkedInlinkedin.com/company/union-bank-vt-nh

Revenue estimate

Valuation estimate

Number of profiles

Profiles18 records

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 Bank