Unity Bank Announces Exciting Changes!

We are excited to let you know that effective February 25th, 2019, Unity Bank merged all three of our bank charters (Unity Bank North, Unity Bank Minnesota and Unity Bank Wisconsin) into one family owned Unity Bank. Up until now, Unity Bank has been run under three separate bank charters, but owned all together by the Solsrud Family. We have not been bought by a larger bank, and ownership has not changed. As your local community bank, we will continue to be an integral member of the communities we serve and are committed to providing you with a full range of products to meet your financial needs.
 
It is our belief that this merger will bring about only positive changes for everyone. It will certainly make Unity Bank stronger and more competitive in the market, and the increased resources will ensure that we are more capable of providing quality customer service in all aspects.
 
Here are a few things we would like for you to know about the new Unity Bank:
  • You will continue to do business with bankers you have known and trusted.
  • You will continue to have a full array of financial services and products with the strength of a community bank behind you and your loan decisions will still be made locally and in a timely manner.
  • You will now have 15 convenient locations for banking and ATM services in Minnesota and Wisconsin.
  • You will continue to be part of a local community bank that’s even better and more convenient for you and your business.
 

Please take the time to review the following documents as the information informs you of changes due to the merger:

  • Privacy Notice: This notice is required by regulation at the time of a merger.
  • Fee Schedule: This notice is required by regulation at the time of a merger. Most fees have stayed the same, however a few fees have changed to align across Unity Bank.


FAQ

We recognize that you may have questions as to how this change will affect you after this merger. We have listed a few common questions and answers below.
 
Will my account be protected by the FDIC during this transition? Yes, the deposits at all of our locations will continue to be insured separately for at least six months after the merger. This grace period gives you the opportunity to restructure your accounts, if necessary. Your CD’s are also separately insured until the earliest maturity date after the six-month grace period. Feel free to contact your local Unity Banker to review your accounts at any time.
 
Will accounts (Loans, Checking, Savings, etc.) change?
While operating under separate charters each institution had its own deposit accounts with different set-ups, fees, features etc. To prepare for consolidation it was necessary to unify the accounts throughout the bank group.  Your loan payments can continue to be made at any Unity Bank location and you can continue to work with the local staff on all of your loan needs..
 
Will I need new checks and a new debit card?
Routing numbers will be changing for all of the Minnesota offices. You can continue to use your current checks, and when you reorder checks, the Unity Banker will make sure your checks have the correct information. We plan to phase out the multiple routing numbers over time but will give you advance notice as this occurs. You do not need to obtain a new debit card as this will continue to work after the merger.
 
Will the website, Online Banking, and Mobile Banking change?
You can still visit www.unitybanking.com and continue to use your existing User ID and password. However, we will now only have one web page, so if you were used to searching by location, this will no longer be required.
 
Will the Bank name still be Unity Bank? Are the branches changing?
Yes, the bank name will still be Unity Bank and all logos will remain the same. The consolidation will not affect the physical locations. All telephone, fax, emails and addresses should remain the same. There are no plans to close any branches.
 
Are employees going to be the same?
We are making every effort to retain all of our valued employees.
 
Where will the Unity Bank charter be?
The main charter will be located in the Augusta, Wisconsin location.
 
Do we need to do anything?
No, we’ll take care of all the work. Feel free to call your local Unity Bank if you have any questions.