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Us Bank Buying MUFG Union Bank

CreditCuriosity
Moderator

Us Bank Buying MUFG Union Bank

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 Smiley Happy.. 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

 

 

Message 1 of 16
15 REPLIES 15
cashorcharge
Senior Contributor

Re: Us Bank Buying MUFG Union Bank

Interesting move...thanks for sharing

Message 2 of 16
CreditCuriosity
Moderator

Re: Us Bank Buying MUFG Union Bank

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.

Message 3 of 16
Gmood1
Community Leader
Super Contributor

Re: Us Bank Buying MUFG Union Bank

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.

Message 4 of 16
CreditCuriosity
Moderator

Re: Us Bank Buying MUFG Union Bank

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.

Message 5 of 16
FinStar
Moderator

Union Bank/MUFG to be acquired by US Bank (by first half of 2022)

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?

 

Union Bank MUFG.jpg

 

Message 6 of 16
Dinosaur
Moderator Emeritus

Re: Us Bank Buying MUFG Union Bank


@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.


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

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Message 7 of 16
Gmood1
Community Leader
Super Contributor

Re: Union Bank/MUFG to be acquired by US Bank (by first half of 2022)

@FinStar 

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

Message 8 of 16
FinStar
Moderator

Re: Us Bank Buying MUFG Union Bank


@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 Smiley Happy.. 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

 

 


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

Message 9 of 16
ChargedUp
Valued Contributor

Re: Us Bank Buying MUFG Union Bank

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.)

AODFCU 3% Visa ($10K), Amex PRG (NPSL), Amex Blue Cash ($27K), Amex Simply Cash+ ($4K), Amex Business Cash ($22.5K), Discover ($29.7K), Cap 1 Union Plus MC ($2500), Chase FU Visa Sig ($12K), Chase F Visa Sig ($8.3K), Chase CSP Visa Sig($6.5K), FCB/Elan Rewards Visa Sig($15K), Buckle ($1.3K), BofA AAA Rewards ($84.5K), Paypal credit ($10K), BBVA Clearpoints ($7.5K), Cap 1 Savor ($13K), PenFed PCR ($3500), Bank of the West CB MC ($3K), PNC Cash Rewards ($14K), NASAFCU Rewards Visa ($20K), BOC/Elan Max Cash MC ($25K), BoA Business Customized Cash Rewards MC ($8k)
Message 10 of 16
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