Purepoint MUFG Union

Deposit Rates APY Vs.Others
Savings 0.40% 0.85% →
1-Year CD 0.25% 0.70% →
2-Year CD 0.25% 0.75% →
3-Year CD 0.25% 0.85% →
4-Year CD 0.25% 1.04% →
5-Year CD 0.25% 1.15% →

2021 Overview

General Online Bank Information

Money that you deposit is held by MUFG Union Bank, National Association. MUFG Union Bank, National Association is an FDIC insured institution founded in 1979. It has approximately $134.79 billion in assets.

Deposits FDIC Insured Yes
Insured Bank MUFG Union Bank, National Association
FDIC Certificate # 22826
Date Established 1979
Assets $134.79 billion
Loans $78.18 billion
Deposits $106.31 billion
Capital $15.75 billion

For a more detailed analysis of MUFG Union Bank, National Association's financial condition and a description of what these numbers mean, please visit the Financial Details section.

Deposit Rates - September 16, 2021

Online Savings and Money Market Rates
Online Savings and Money Market Rates APY MIN MAX
Online Savings Account
0.40% $10,000 - Learn More
Online CD Rates
Online CD Rates APY MIN MAX
6 Month CD
0.15% $10,000 - Learn More
1-Year CD
0.25% $10,000 - Learn More
14 Month No Penalty CD
0.10% $10,000 - Learn More
18 MO CD
0.25% $10,000 - Learn More
24 Mo CD 1K
0.25% $10,000 - Learn More
36 Mo CD 1K
0.25% $10,000 - Learn More
48 Month CD
0.25% $10,000 - Learn More
60 Month CD
0.25% $10,000 - Learn More

 

Bank Offers

Purepoint Raises 1-year CD rate to 2.80%
Dec 7, 2018

Purepoint has raised their one-year CD rate to 2.80% from 2.60% today.   The rate requires a minimum deposit of $10,000, and is still below the best online one-year CDs.   Purepoint's one-year CDs have a 181-day early withdrawal penalty which is higher than that on one-year CDs from Barclays Bank Delaware, Ally Bank, Live Oak and others. 


Purepoint MUFG Union Raises Online Savings Rate to 2.35%
Jan 4, 2019

Purepoint has raised its online savings rate to 2.35%.   BestCashCow has received reports that customers of Union Bank in California are being offered bumps on this of 10 to 15 bps.


Purepoint Lowers 1-Year CD rate
May 30, 2019

Purepoint has lowed its one-year CD rate to 2.75%.   This continues a trend that we are seeing of declining premiums in all CD categories.    


Purepoint Slashes CD Rates
Jun 28, 2019

Purepoint has slashed all of its CD rates by 50 basis points.   The one-year CD has moved from 2.75% to 2.25% and the five-year has moved from 3.00% to 2.50% overnight.   While Purepoint has instantly removed itself from competitiveness on the CD front, the 13-month no penalty CD remains a very attractive savings alternative at 2.50%.


Purepoint Cuts No Penalty CD to 2.00%
Jul 1, 2019

Purepoint's 13-Month No Penalty CD is a product that we recommended when it launched at 2.60% and continued to recommend at 2.50%.    The rate has now been cut to 2.00% and depositors should now look to the higher No Penalty rates from Marcus and Ally first.


Purepoint Lowers Savings Rate from 2.35% to 2.15%
Jul 17, 2019

Purepoint Financial has lowered its savings rate by 20 basis points today.    Its savings rate now stands at 2.15%.   This move follows recent moves to lower all of its CD rates and its No Penalty CD rate.


Purepoint Lowers Savings Rate to 0.40% APY: CD rates even lower
Sep 26, 2020

Purepoint was the most competitive online bank when they entered the market two years ago with great savings, CD and No Penalty CD rates.   Now the savings rate is 0.40% APY and CD rates are no higher than 0.25% APY.   If you are still attacted to the No Penalty CD product, you can get 0.15% APY on a 11-month or 0.10% APY on a 13 or 14-month product.




Customer Reviews for Purepoint MUFG Union (32)


  • May 20, 2021 |

    Online Savings Rates

    Lost in all of these reviews is that Purepoint is the bank that let's you have tons of corresponding accounts to which you can ACH money (their limit is something like 10). So, if you want to play this game of earning more than you can get by leaving your money with Goldman Sachs, Morgan Stanley, Chase (and it is a game worth playing) and having FDIC insurance at all of them, Purepoint is basically the first account you should open as it enables you to get large amounts of cash fast in and out of the smaller banks.

  • February 28, 2020 |

    Online Savings Rates

    Purepoint is great. Only Citizens Access is better and I've had all of these. I have nothing to gain by saying this, but I would opt for Purepoint when the rates are comparable.

  • February 25, 2020 |

    Online CDs 13 Month Rates

    I've been using Purepoint for a couple years now never had a problem. Rates always seem to stay in the top 25% of online banks. No problem getting through to customer service and the quickest transfers I've found with online banks. I would recommend.

  • December 19, 2019 |

    Online Savings Rates

    I have a lot of money with Purepoint and they really won my business the last several years with nice X-Mas presents and birthday presents. Once it was nice teas, one it was coffee and once it was chocolates. My favorite was liquor infused gummies. It made me feel that my business was appreciated in a way that it isn't by the other online banks. This year I received only an email labelled "important - happy holidays". Between this and the constant rate drops, I am now looking to move my money back to a local bank.

  • August 18, 2019

    Online Savings Rates


    Bad:
    - QUIET RATE DROPS (I have a couple of other OSAs and the rate drops are always announced by email).
    - UNAVAILABLE CUSTOMER SERVICE (don't try to contact them during non-regular business hours).
    GOOD:
    - Gummy bears, tea, coffee, etc. for birthdays and X-Mas gifts. Small gifts, but it is nice to be recognized as a client.

    3 Stars!

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