Welcome. to Union CUSTOMER ACCOUNT GUIDE

Transcription

1 Welcome to Union CUSTOMER ACCOUNT GUIDE

2 Banking made better. 2

3 Dear Valued Customer, Welcome to Union Bank & Trust, serving communities for more than 115 years. On January 1, 2018, the merger between Union Bank & Trust and Xenith Bank was complete, creating a Virginia-based regional bank for the first time in nearly 20 years. During the first part of the year, our primary focus was on bringing the two banks together so we can operate as one. Our number-one goal is to make this process as seamless as possible for you. By anticipating your needs, providing clear and timely communication and being available every step of the way, we can ensure that we are living up to our promise to make banking easier. In order to help guide you through the transition, we have created this customer guidebook that will include specific information on changes to your account and help answer commonly asked questions. We are here to help in any way that we can. New Union customers will now have greater access to financial and digital solutions, plus the added convenience of a branch and ATM network that spans Virginia, as well as key locations in Maryland and North Carolina. At Union Bank & Trust, we believe you have a right to expect more from the companies you do business with and you can expect more from us. Sincerely, John Asbury CEO, Union Bank & Trust 3

4 HOW TO REACH US Until Friday, May 25th at 6 p.m. Beginning Sunday, May 27th at 5 p.m. Beginning Memorial Day, Monday, May 28th at 8 a.m. Xenith s current Telephone Banking and Customer Solutions Center Union Telephone Banking is Available Union Customer Contact Center Monday through Friday 8 a.m. to 6 p.m. 1. To set up telephone banking, follow the prompts. 2. The first time you access Union Telephone Banking, the system will prompt you to enter your social security number. 3. Then you will be asked to set up a personal identification number (PIN) for future access to your account. Monday through Friday 8 a.m. to 8 p.m. Saturday 9 a.m. to 5 p.m. In order to help facilitate your transition, the Union Customer Contact Center will offer 24-hour online banking assistance beginning Memorial Day, May 28th, through June 16th. QUESTIONS? CONTACT US. customer.advocate@bankatunion.com bankatunion.com 4

5 CONVERSION TIMELINE MAY 24 THU ATM functionality will be limited Access to existing Xenith Bill Pay will no longer be available IMPORTANT NOTE: All previously scheduled payments will be made as you instructed 3 p.m. Xenith Online Banking goes into view-only mode (no transfers, alerts/preference edits, etc.) MAY 27 SUN MAY 28 MON Last day to log in to the current Xenith Online Banking (view-only) 5 p.m. Customers can access Union Telephone Banking and create new PINs 8 a.m. - 8 p.m. Union Customer Contact Center will be available to assist all customers Access to Union Online Banking and Mobile App is available MAY 25 FRI MAY 26 SAT Branches will close at their normally scheduled time 3 p.m. Telephone Banking will be in inquiry-only mode 6 p.m. Xenith Customer Solutions Center will close Xenith branches will not be open Telephone Banking will not be available MAY 29 TUE MAY 31 THU Branches open Bill Pay history available IMPORTANT NOTE: All payments scheduled on the old Xenith platform, including those dated through May 31st, will not be viewable until this date. However, they will be processed as you instructed. For the most recent updates and information regarding the merger, please visit our website at BankatUnion.com/Welcome MONEY is a registered trademark of Time Inc. and is used under license. From MONEY Magazine, November 1, Time Inc. Used under license. MONEY and Time Inc. are not affiliated with, and do not endorse products or services of, Union Bank & Trust. 5

6 If your Xenith Checking Account is... Your NEW Union Checking Account will be... Complimentary Checking Essential Checking Free Checking Free Checking PERSONAL CHECKING ACCOUNTS Free Checking Loyalty Checking Aspire Checking Captain s Checking Grand Slam Checking Loyalty Checking Privilege Checking 1 Loyalty Checking Free of fees. Full of convenience. No minimum monthly balance required No monthly maintenance fee Qualifies for better rates on various savings products with direct deposit 2 of $500 or more per month into Free Checking Receive interest and valuable banking benefits. Tiered interest rates. Tiered interest charts are located in the Important Account Information book. Maintain a minimum daily balance of $2,500 or $10,000 in combined balances in personal deposits, loans and lines of credit to avoid a $10 monthly maintenance fee Five FREE ATM transactions per statement cycle at other financial institutions ATMs, including rebates of surcharge fees from other banks Professional Advantage Checking 1 No issue fee for cashier s checks Paper statements or Online Statements with check images available upon request 6 Qualifies for better rates on various savings products 1 Monthly maintenance fee will be waived on these accounts. 2 A direct deposit is a deposit of a paycheck, pension, social security or other eligible regular monthly income electronically deposited by an employer or an outside agency.

7 OTHER GREAT CHECKING PRODUCTS Preferred Banking Checking Higher rates on higher balances, with our greatest banking benefits. Premium tiered interest rates. Tiered interest charts are located in the Important Account Information book. Maintain a minimum daily balance of $25,000 or $50,000 in combined balances in personal deposits, loans and lines of credit to avoid a $25 monthly maintenance fee FREE Preferred Banking checks or 50% off other styles ordered through the bank Unlimited ATM transactions at other financial institutions ATMs, including rebates of surcharge fees from other banks FREE 3x5 safe deposit box or 50% off a larger box FREE, unlimited ID Theft Recovery Services ThankU Checking An account with exclusive benefits for active or retired Teachers/Administrators, Local, State and Federal Law Enforcement, First Responders, Fire Fighters and members of the U.S. Armed Forces. Tiered interest rates. Tiered interest charts are located in the Important Account Information book. No minimum monthly balance required No monthly maintenance fee Five FREE ATM transactions per statement cycle at other financial institutions ATMs, including rebates of surcharge fees from other banks No issue fee for cashier s checks Paper statements or Online Statements with check images available upon request Qualifies for better rates on various savings products No issue fee for cashier s checks Paper statements or Online Statements with check images available upon request Qualifies for better rates on various savings products 7

8 If your Xenith Savings Account is... Your NEW Union Savings Account will be... PERSONAL SAVINGS ACCOUNTS Statement Savings Custodial Savings Basic Savings esavings Professional Advantage Youth Savings Holiday Club Savings Money Market Loyalty Money Market Statement Savings Custodial Savings Deluxe Savings Club Account Loyalty Money Market Interest bearing, compounded and credited monthly Three FREE debit transactions per month. $3 fee per debit in excess of three. Transfers/withdrawals are limited to six per month (Reg D) 1 If you also have a checking account, ATM access is available on the savings account Monthly combined statement with a checking account $4 monthly maintenance fee if minimum daily balance drops below $300 If you close your account before interest is credited, you will not receive the accrued interest Interest bearing, compounded and credited monthly Minor must be set up as primary on the account Account is not subject to a minimum balance requirement or monthly maintenance fee until the minor turns 19 When the primary account holder turns 19, the following fees will apply: monthly service fee will be imposed if the account balance falls below $300 any day of the month; an activity fee of $3 will be charged for each withdrawal in excess of three during a month If you close your account before interest is credited, you will not receive the accrued interest IRA Savings IRA Variable Savings Health Savings Accounts (HSA) Health Savings Accounts (HSA) 1 By regulation, transfers to another account or third party by preauthorized, automatic, telephone or computer transfer or by check, draft, debit card or similar order to third parties are limited to six per statement cycle. 8

9 OTHER GREAT SAVINGS PRODUCTS Deluxe Savings Club Interest bearing, compounded and credited annually Funds for savings club accounts are disbursed (by transfer) typically in mid-october. The automatic draft will continue for the new account until you indicate that you would like the account to be closed or set up differently. You may not make any transfers from this account to another account of yours or to third parties by preauthorized, automatic, or telephone transfer or similar order to third parties Service fee of $5 charged if the account is closed before the maturity date in October, and you will not receive any accrued interest Loyalty Money Market Tiered, interest bearing, compounded and credited monthly. Tiered interest charts are located in the Important Account Information book. Six transfers or withdrawals per statement cycle. 1 $10 fee for each transaction in excess of six per cycle. $15 monthly service fee if daily balance drops below $1,000 minimum for converted money market accounts ($2,500 for Loyalty Money Market Accounts opened after 1/1/18) If you close your account before interest is credited, you will not receive the accrued interest. Accounts closed within 180 days of opening will incur a $25 service fee. IRA Variable Savings Interest bearing, compounded and credited quarterly Can be opened for traditional or Roth IRAs Health Savings Account (HSA) Must have a high-deductible health plan (HDHP) to open $3.50 monthly maintenance fee Eligible for an HSA debit card Check-writing ability available upon request Loyalty Savings Tiered interest, compounded and credited monthly. Tiered interest charts are located in the Important Account Information book. Three debit transactions per month. $3 fee per debit in excess of three. Limited to six withdrawals per statement cycle 1 $4 monthly maintenance fee if minimum daily balance drops below $300 Monthly combined statement with a checking account Preferred Money Market Premium tiered interest, compounded and credited monthly. Tiered interest charts are located in the Important Account Information book. Six transfers or withdrawals per statement cycle. 1 $10 fee for each transaction in excess of six. $10,000 minimum to open $15 monthly fee if minimum daily balance drops below $10,000 or $25,000 in combined balances in personal deposits, loans and lines of credit 9

10 OTHER FINANCIAL SERVICES Mortgage Whether you are buying your first home or an investment property, building or refinancing, Union Mortgage Group offers a variety of mortgage options, each with different benefits. Our experienced mortgage professionals will work with you every step of the way from prequalification to closing so you will feel confident you re getting the right type of financing for you. Wealth Management Union Wealth Management offers the full suite of solutions to help you achieve your financial goals. It starts with a complimentary financial consultation with an advisor who will listen to your unique priorities. Then, when you are ready, we will prepare a customized, comprehensive plan and work with you over the long term to achieve it. Fixed Rate Mortgages Adjustable Rate Mortgages Real Estate Construction Loans STAR Portfolio Loan Program Federal Housing Authority Loans Veterans Administration Loans Federal Home Loan Bank Investment Management Retirement Planning Education Planning Insurance and Risk Management Liquidity and Credit Management Business Succession Planning Estate Planning Visit your local Union branch or call so we can put you in touch with your local Union mortgage professional. For more information, please call Union Mortgage Group, Inc. NMLS#

11 SOCIAL MEDIA Social media allows people to connect with each other like never before. That is why you can find, follow and engage with Union Bank & Trust across all of your favorite social channels. Follow us on Facebook, Instagram, Twitter, LinkedIn and YouTube for: Smart tips by Union Bankers and the Union Digital Team that help make banking easier Expert advice from our Union Wealth Management Team to help you reach your financial goals Customer and teammate success stories that inspire all Insights into banking and Union trends by our senior leaders Giveaways for tickets and packages to events at Union Bank & Trust Pavilion in Portsmouth, Richmond Symphony, Salem Civic Center and more Service for customer inquiries and needs Our goal is to help our customers reach their financial goals, make banking easier and have some fun along the way. Join us! COMMUNITY We are committed to enhancing and improving the communities where our customers live, work and play. Our sponsorship and giving efforts allow our teammates and partners to enrich the lives of the people we serve. We are proud to sponsor events where families and businesses come together to celebrate and have fun this is another way Union invests in our communities. We are also a major sponsor of many Virginia college and university athletic programs, as well as festivals and other family events. We support many organizations that strive to ensure residents have a safe, affordable place to call home. We have a culture of giving back to our communities through donations and the promotion of volunteerism. Union teammates are active and passionate about supporting local initiatives. We regularly volunteer in schools, participate in charitable walks and host fundraisers throughout the year. Setting future generations up for financial success is at the heart of what we do. We partner with EVERFI to bring financial education into high school classrooms, preparing students to manage their financial futures. So far, we have reached more than 100,000 students through this Union Bankshares Corp Union Bank & Trust Some of the other organizations we support include: College of William & Mary Habitat for Humanity Housing Virginia James Madison University Local holiday parades Old Dominion University Partnership for Affordable Housing Richmond Flying Squirrels Richmond Folk Festival Richmond Symphony United Way University of Richmond University of Virginia Virginia Tech 11

12 ONLINE BANKING Welcome to BankatUnion.com Here, you can browse for products to meet all your financial needs. You can log in to your account or find the closest branch or ATM. The site is optimized for all devices, so you can find what you need on the go. You can even find our 800# and routing number at the bottom of every page. We want to make it easy for you to get the most out of us! LOG IN TO YOUR ONLINE BANKING ACCOUNT BEGINNING MONDAY, MAY 28TH 1 Go to BankatUnion.com 2 The LOGIN box should be open and defaulted to Personal Banking. Enter your existing credentials and click LOG IN. While most customers will maintain their current username and password, some may be notified individually of changes. If you currently have Union Online Banking, you can use your existing login credentials. 3 Upon your first log in, you will be prompted to establish a new password for security purposes. After successfully changing your password, you will be asked to verify your identity by entering a one-time passcode provided to you by text message, or phone call. 12

13 Answers to questions you may have about Union. Deposit Account Information Will there be changes to my account? There may be some changes to the terms and conditions of your account. Your account was carefully reviewed and matched to the new account it most closely resembles. Please read the Deposit Account Products section in this guide and the Important Account Information book to learn more about the products that have changed. Will I need to replace my checks, and if so, will I be charged? Unless you are notified otherwise, you may continue to use your Xenith Bank checks as you do today. If you are receiving a new account number, we will provide an initial order of checks at no cost. At your next reorder of checks, please use routing number How will my transactions be posted? ATM and debit card transactions will be posted in order of the date and time on which they occurred, if known, and before any checks written by you. Certain other noncheck transactions such as fees will be posted in order of dollar amount, from highest to lowest. Checks will be paid in order of check number. Please see the Important Account Information book for details. 13

14 Deposit Account Information (cont d) Debit and ATM Cards Will my account number change? In a few cases, there will be account number changes. If you are impacted, you will receive correspondence with your old and new account numbers. However, the bank routing number will change for all customer accounts, and we highly recommend you contact any direct deposit originator (e.g., your payroll department) and any merchant or service providers (for other automatic transactions) after May 15th in order to switch your direct deposit, auto debit and ebill pay accounts to reflect the new number. Will my current overdraft protection (ODP) still be available? If enrolled, you will continue to have overdraft protection. Please see the Important Account Information book for details. Will I get a final statement from Xenith? The bank will maintain your statement history. Customers with checking, savings and/ or money market accounts will receive a final statement by mail reflecting your transactions and posted interest through May 25th. If you currently receive paperless statements, they will continue. What do I need to do to ensure that my direct deposits and automatic drafts continue? After May 15th, you will need to notify each originator (e.g., your payroll department for direct deposits) of your new Union routing number (shown below) and account number. The new routing number will be We will also send an automated notice of change to your ACH originators on your behalf. For your reference, the bank routing number and your account number will both be shown on the bottom of your checks (if you receive new checks from us). The routing number is the first number shown, followed by your account number. Can I continue to use my existing Xenith debit and ATM cards? Yes, you can continue to use your Xenith card until you receive and activate your new Union Bank & Trust card in July. Will the daily purchase and withdrawal limits change? Please refer to the Important Account Information book. Will I still be able to use my existing Xenith credit card? Yes, you can continue to use your Xenith credit card until you receive and activate your new Union Bank & Trust credit card in July. 14

15 Consumer Loans Will my loan or line of credit account number change? In a few cases, there will be account number changes. If impacted, you will receive a separate correspondence with your old and new account numbers. Will my loan payment still be automatically deducted from my account? Yes, there will be no interruption to existing automatic payments. Can I use my current HELOC and Line of Credit checks? Yes, you can continue to use your existing checks. You will receive a separate communication if you are issued new checks because your account number has changed. Will I need to mail my loan or Home Equity payment to a different address? Please mail payments to: Union Bank & Trust Attn: Payment Processing P.O. Box Charlotte, NC For Online Bill Pay, please remember to update any automatic payments that are mailed to the bank to reflect this address. Will I continue to receive combined loan statements for my loans? You will receive separate statements for each account. Will I continue to receive my loan or line of credit statements at the same time each month? You can expect to receive your loan statements around the same time. 15

16 Consumer Online Banking & Bill Pay Will my username change? Most customers will continue to use their existing username. Usernames will change for a few impacted customers. In those cases, you will receive a separate correspondence with details. If you currently have Union Online Banking, you can use your existing login credentials. Will I be able to access my previous statements online? If you are enrolled in paperless statements, you will be able to view your statements online. To enroll in paperless statements, select Online Statements within Union Online Banking. Will I have access to my transaction history? Yes, your last 90 days will be available. I currently use Online Bill Pay. Will my payees transfer? Yes, payees will be transferred over and available to pay. I am currently a Xenith Online Banking customer. Will I need to reenroll? No, you will be able to use Union s Online Banking beginning May 28th. Most customers will maintain their current username and password, some may be notified individually of any changes. Will there be any disruption to my scheduled online bill payments? All previously scheduled payments will be made as you instructed. However, you will be unable to edit payments or schedule new payments from May 24th through May 27th. You can begin to schedule new bill payments beginning Monday, May 28th, in the new Online Banking. Will my ebills transfer? No, you will need to set up ebills along with any associated payment preferences. Will my text and alerts transfer? No. You will need to set up your text and alerts. Will I be able to see my bill payments history? Beginning May 31st, you will be able to see six months of previous bill payments. 16

17 Consumer Online Banking & Bill Pay (cont d) I currently use Mobile Banking. Will I need to download a new app? Yes. Beginning May 28th, you can download the Union Bank & Trust mobile app. Will the new mobile app allow me to deposit checks through my cell phone or other mobile device? Yes, you will be able to deposit checks from your mobile device. Will I be able to make Person to Person (P2P) payments? Yes, we partner with Popmoney to provide P2P payments to a bank account, address or account number. Existing Popmoney users will need to reset up their account. Visit the Transfer Money tab in Online Banking to begin making payments. FDIC Insurance Information What happens to my FDIC coverage if I have deposits at both Union and Xenith? Both Union Bank & Trust and Xenith Bank are federally insured banks. Currently, the standard deposit insurance amount is $250,000 per depositor, per insured bank. Any deposits you have at Xenith Bank will be combined with any deposits you have at Union Bank & Trust. This combined balance will determine whether you have exceeded the FDIC insurance limit. Certificates of Deposit (CDs) opened at Xenith Bank will be separately insured until the earliest maturity date and will be renewed to a product offered at Union Bank & Trust. 17

18 TRANSITION CHECKLIST Here are the steps you need to take to prepare for the changes ahead. Set up new Telephone Banking Beginning Sunday, May 27th, at 5 p.m., please call and follow the prompts. The first time you access Union Telephone Banking, the system will prompt you to enter your social security number and you will be asked to set up a personal identification number (PIN) for future access to your account. Download the Union Bank & Trust mobile app beginning May 28th Notify direct deposit and automatic draft originators of your new routing number After May 15th, you will need to notify each originator (e.g., your payroll department for direct deposits) of your new Union routing number (shown below) and account number. The new routing number will be We will also send an automated notice of change to your ACH originators on your behalf. Set up ebills ebills will not transfer, so you will need to set up ebills along with any associated payment preferences. Log in to Online Banking to establish a new password If you are currently enrolled in Online Banking, you will be automatically enrolled. Upon your first login attempt, you will need to enter your existing username and password. For the customers who received a letter, use the username and password that was provided in the letter. If you currently have Union Online Banking, you can use your existing login credentials. You will then be prompted to establish a new password for security purposes. After successfully changing your password, you will be asked to verify your identity by entering a one-time passcode provided to you by text message, or phone call. Set up text and alerts Text and alerts will not transfer, so you will need to set up your text and alerts. Set up Person to Person (P2P) payments We partner with Popmoney to provide P2P payments to a bank account, address or account number. Existing Popmoney users will need to reset up their account. Visit the Transfer Money tab in Online Banking to begin making payments. Effective January 1, 2018, Xenith Bank merged with Union Bank & Trust. Xenith branches throughout Virginia and Maryland will operate as Union Bank & Trust as of May 28, All locations in North Carolina will continue to operate as Xenith Bank, a division of Union Bank & Trust of Richmond, VA. 18

19 For your convenience, customers of Union Bank & Trust and Xenith Bank will have full access to all of our branches and ATMs, regardless of which bank you typically use. LOCATION MAP Union Branches Xenith Branches Loan Production Offices 19

20 Three James Center 1051 East Cary Street, Suite 1200 Richmond, Virginia Union Bank & Trust 20