While Big Banks Abandon Free Checking, Union Doubles-Down and Offers Free Business Checking
February 01 2018 - 8:30AM
Union Bank & Trust (“Union”), Virginia’s regional bank,
announces the introduction of Free Business Checking. While
in recent years, many big banks have said goodbye to their Free
Checking programs, Union Bank & Trust sees big opportunity in
the wake of frustration left by larger financial
institutions.
Union, which has offered free checking for a while, will not be
eliminating the popular offering any time soon. In fact,
Union is doubling down by adding Free Business Checking to its
already competitive set of products for businesses including
savings, lending, credit cards and treasury management. The
new Free Business Checking product is perfect for the business that
has uncomplicated banking needs. It includes benefits, not
available at many large banks, such as no minimum balance
requirement, no monthly maintenance fees, no per-item charges and
additional account features like a Business VISA® Check Card and
online banking services. With Union, all the pain points that
small business customers are used to are eliminated.
“Our mission is to make banking easy,” said John Stallings,
president for Union Bank & Trust. “We evaluated the
market and saw a void in the business checking arena. We want
to give our small business customers a better option.”
In addition to Free Business Checking, Union offers an entire
suite of products designed for business and consumer needs.
Union focuses on identifying the financial goals of customers,
whether business or consumer, and delivering the client with the
best banking option. Union recognizes that not all clients
are the same which is why Union offers a variety of business and
consumer options for checking, including free. At Union, one
size doesn’t fit all.
“Other banks require you to maintain a large minimum balance in
order to avoid monthly fees. We realize that some small
business owners don’t need a complicated checking product.
Our Free Business Checking account is perfect for small businesses
that have less than 250 transactions per month,” said
Stallings.
To apply online or to learn about Free Business Checking, visit
bankatunion.com.
ABOUT UNION BANKSHARES CORPORATIONHeadquartered
in Richmond, Virginia, Union Bankshares Corporation (NASDAQ:UBSH)
is the holding company for Union Bank & Trust, which has 150
banking offices, 39 of which are operated as Xenith Bank, a
division of Union Bank & Trust of Richmond, Virginia, and
approximately 220 ATMs located throughout Virginia, Maryland and
North Carolina. Union Bank & Trust also operates Shore
Premier Finance, a specialty marine lender. Non-bank
affiliates of the holding company include: Union Mortgage Group,
Inc., which provides a full line of mortgage products, Old Dominion
Capital Management, Inc., which provides investment advisory
services, and Union Insurance Group, LLC, which offers various
lines of insurance products.
Media Contact: Beth Shivak (804) 327-5746, VP and Director of
Corporate Communications
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