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News & Information

Happenings and Dates to Remember

Fosston Rotary 5K will be held on Saturday, May 3rd at 10:00 a.m. with a kid’s 1K at 9:30.

Highway 2 Cruisers annual car show is Saturday, August 23, from 10:00 to 2:00.

First Care Foundation’s 4th Tango & Cash will be held on Saturday, October 18, at the Fosston Civic Center.

 

 

 

 

      

 

 

 

 

 

 

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Savings

As with all of our deposit products, our savings products also take full advantage of the cost saving, convenient features of Internet Banking. The following products have been priced accordingly.

Here is a quick description of our business savings accounts:

UBM Direct Savings, pays our most competitive rate with the convenience of accessing your account online. We are able to offer such an attractive rate because it is an all electronic account that you manage completely online. UBM Direct Savings account holders must have a checking account (at any financial institution chartered in the U.S.) to transfer money to and from their UBM Direct Savings account.The interest rate is variable and may change daily. Interest is calculated based on the available daily balances using simple interest and is compounded and credited to your account monthly.

Regular Savings requires no minimum balance and no service charges apply when the account is administered electronically. It is available to any person, business, non-profit or public service organization. Its moderate rate and annual percentage yield (APY) are subject to change without notice. 

Money Market Savings is available to any person, business, non-profit or public service organization. Its attractive rates and annual percentage yields (APY) are subject to change without notice and tiered according to your available balance.

Ultima Savings is available to any individual, business, farm operation, non-profit or public service organization. Its attractive rates and annual percentage yields (APY) are subject to change without notice and tiered according to your available balance.

  UBM Direct Regular Money Market Ultima
Account Restrictions All electronic None None None
Minimum Balance required to earn Interest $1000 None $2,500 $10,000
Stetements mailed or emailed No charge – email only No charge No charge No charge
Minimum amount per deposit None None None None
Withdrawal or Transfer Limitations *Six/Month *Six/Month *Six/Month *Six/Month
Withdrawal Fee – Manual (All electronic are Free) n/a **Two Free/$1.00 Thereafter **Two Free/$1.00 Thereafter **Two Free/$1.00 Thereafter
Online NetBanc or MobileBanc Access Free Free Free Free
Direct Deposit Free Free Free Free
Other   Free Kids Club Tiered Rates Tiered Rates
Service Charge $10/month if fall below $1,000 None None None
Account Closing Fee $25 if in first 90 days, otherwise none No No No

For UBM Direct Savings and Money Market Savings Accounts … Interest accrual begins on the first business day after the day we receive your deposit. Interest is calculated daily based on your available balance, then compounded and credited to your account monthly. The Interest Rate is variable and subject to change without notice. Fees could reduce earnings. 


For Regular Savings and Ultima Savings Accounts … Interest accrual begins on the first business day after the day we receive your deposit. Interest is calculated daily based on your available balance, then compounded and credited to your account quarterly. The Interest Rate is variable and subject to change without notice. Fees could reduce earnings.


*Government regulation requires a limit of six withdrawals or transfers per month to another account of yours or to a Third Party by means of a preauthorized or automatic transfer or telephone order.


** Per Statement Cycle

Open a UBM Direct Savings Account     Other Fees