Us Bank Buying MUFG Union Bank

[CreditCuriosity]

https://www.americanbanker.com/news/u-s-bancorp-buying-mufg-union-bank-for-8-billion

Guess that is one way in with Us Bank at a decent credit line other then opening a new account .. Union Bank is kinda a unicorn bank for some of us here in MF land.  Sad to see some of the smaller regional banks being bought up

[cashorcharge]

Interesting move...thanks for sharing

[CreditCuriosity]

And the email just came.

To our valued clients,

Earlier today we announced that Union Bank® will be acquired by U.S. Bank (NYSE: USB), the fifth largest banking institution in the United States. Completion of the transaction is expected in the first half of calendar year 2022 following regulatory approval. The press release is available for your convenience on unionbank.com.

By combining with U.S. Bank, we will further enhance your experience as we strengthen our products, services, and digital capabilities to better serve you - providing more choices and greater flexibility. Additionally, we are broadening our footprint, reaching you with added convenience and access where you live and work with approximately 775 bank branches across the combined networks in California, Oregon, and Washington. This is in addition to U.S. Bank’s branch banking and ATM presence in 26 states, extending your access to banking services.

U.S. Bank is a top-performing bank, and they have worked for more than 150 years to earn the trust of customers and communities to strengthen financial futures together. They offer an extensive range of deposit accounts and financial services, including its leading digital capabilities which offer superior functionality and breadth of service. And you will continue to be met with the same outstanding customer service you have come to expect from us. We are merging our teams and strengths, bringing you the best of what we have to offer together.

U.S. Bank clearly recognizes the many strengths of Union Bank, the resilience in our communities, as well as our people and expertise. Recognizing the deep bench of talent Union Bank has to offer, U.S. Bank is eager to welcome our colleagues to their team once the integration process is under way. U.S. Bank’s platform is rapidly expanding, with a growing need for professionals across the markets they serve. I expect that we will find a highly complementary cultural fit across the teams, allowing for a smooth integration over time.

Until the transaction is finalized, Union Bank and U.S. Bank will continue to operate independently as entirely separate companies.

We will inform you of important changes that affect you. Please contact us through our call center at 1.800.238.4486 or at your local bank branch should you have any questions.

Thank you for being a client of Union Bank. It’s an honor and privilege to serve you.

[Gmood1]

Just received the email a few minutes ago. Boy oh boy, I have so many banks combining, it's insane! 😆

Already had my State Farm CC transfered to US Bank. Now my MUFG CC as well? 

Banks are doing some serious consolidating lately! They'll need to, in order to survive what's coming next.

Crypto and Fintech companies are about to take a huge chunk of their business IMHO.

[CreditCuriosity]

Ya nuts as had a few combos this year already and BBVA to PNC (Crud rewards card) coming up next month and then early next year this transfer.  I think this is the most bank mergers/sales or shall I say CC transfers in a given time period.

[FinStar]

Aw man, another Socks 🧦 Bank acquisition 😂

First, it was State Farm Bank toward the end of last year and now Union Bank. I'm gonna end up with almost 10 cards with USB at this pace (not including the ELAN ones) 😬  Did you get this as well, @Gmood1?

[Anonymous]

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@CreditCuriosity wrote:

Ya nuts as had a few combos this year already and BBVA to PNC (Crud rewards card) coming up next month and then early next year this transfer.  I think this is the most bank mergers/sales or shall I say CC transfers in a given time period.

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Add Chemical/TCF merging into Huntington Bank! All in a couple of years?!

[Gmood1]

@FinStar 

Yes sir, received the same letter a few minutes ago. I was thinking the same thing!! 😂

[FinStar]

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@CreditCuriosity wrote:

https://www.americanbanker.com/news/u-s-bancorp-buying-mufg-union-bank-for-8-billion

Guess that is one way in with Us Bank at a decent credit line other then opening a new account .. Union Bank is kinda a unicorn bank for some of us here in MF land.  Sad to see some of the smaller regional banks being bought up

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Sorry @CreditCuriosity -- didn't check this area to see you had posted this earlier 😜  just got the email a few mins ago. 

[ChargedUp]

Anyone recall what CRA Union Bank uses and did they give a choice of cards in their previous mergers? Seems like an easier window to get a Cash + card. (I get mailers from Union Bank about every 4-6 months.)