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FAQ

Find answers to frequently asked questions (FAQs) about Union Savings Bank, including USB’s routing number for branches in Ohio, Indiana, and Pennsylvania.

How Can We Help You?

Click here for USB customer service or call (800) 582-9702.

Routing Number

USB’s routing number is 242272311.

Yes. Union Savings Bank’s routing number is 242272311 for all branches in Ohio, Indiana, and Pennsylvania.

Loan Servicing Questions

Yes! Payments to principal, escrow, or late charge/fees ‘only’ can always be made at a local Union Savings Bank branch. You can also mail your payments to Payment Processing, 8805 Governors Hill Drive, Cincinnati. OH 45249 and indicate in writing how you want the funds to be applied.

HOWEVER, if you want to make a principal, escrow, or late charge/fees ‘only’ payment via electronic means, you will need to notify our Servicing Department at (513) 247-0303 or [email protected] to let us know how to apply the funds. Payments made via electronic means, ie. External Online Banking Bill Pay, Payments from the USB Website will only apply as regular payments.

If you have a Checking or Savings Account with Union Saving Bank, you would be able to direct Principal ‘Only’ Payments through Online Banking. We encourage you to sign up for Online Banking and review your loan regularly to ensure that payments post as desired. You can sign up for Online Banking with or without having a Union Savings Bank deposit account.

Finally, you also have the option to receive a monthly billing statement if you do not receive one currently. This will also allow you to choose to receive an e-statement only!

To receive the official payoff quote from Union Savings Bank, the written request may be emailed to [email protected], preferred, or faxed to 513-583-1308.

Payoff Quotes are generally processed within 48 hours of receipt of the below information. If a RUSH payoff request is needed, an additional $50 fee may be assessed to the payoff.

The following information must be contained in the request:

  • Borrower Name(s)
  • Borrower Account Number(s)
  • Property address being sold/paid off
  • Borrower’s Signed Authorization with a wet signature
  • Payoff quote good through Date
  • To whom and where the payoff quote needs to be returned.
  • Indicate whether it is a Sale or Refinance

Sure! It is simple. If you are currently receiving a coupon book annually, you will need to call Loan Servicing at (513) 247-0303 or send an email to [email protected] and request to be switched from a coupon book to a Mortgage Bill. If you already receive a Monthly Statement, you just need to go to USB Online Banking…keep reading.

After your first statement generates, typically 12 days before the 1st of the next month, you can sign up through USB Online Banking to convert the paper statement to be an e-Statement only. If you do not have an existing login for USB Online Banking, please sign up at www.USavingsBank.com and click the ONLINE BANKING LOGIN at the upper right of the landing page. If you are a first-time user, click the link “Click here to register.” Finally, once you are signed in, click the DOCUMENTS icon and follow the instructions to switch from a paper statement to an e-Statement. If you need some help, just contact our Online Banking Team at 855-247-0300. Enjoy being paperless!

IF YOU MOVE
Either during or after your loan with Union Savings Bank is paid-off, WE NEED TO KNOW your current mailing address, so that we can deliver your mail. Especially, if you sell your property and move because we need to send your Paid-off loan letter, Paid-off loan escrow analysis (if applicable), and your Tax Reporting Information for the Payoff Calendar year.

IF YOU GET A NEW PHONE NUMBER OR EMAIL!
Union Savings Bank needs a current phone number and/or email address to get in touch with you. Please let us know if you happen to call Loan Servicing.

Please fill out the Change of Address Request Form and do one of the following:

  • Go to your closest Union Savings Bank branch to drop off the form.
  • Email the form to [email protected].
  • Fax to 513-247-0137

You need to send a letter and supporting documentation to the following address:

Union Savings Bank
Attn: Loan Servicing
8805 Governors Hill Drive
Cincinnati, OH 45249

You can call 513/247-0303 or 800/582-9702 to speak to a customer service representative.

You can send a letter to the following address:

Union Savings Bank
Attn: Loan Servicing
8805 Governors Hill Drive
Cincinnati, OH 45249

You can send an email to [email protected].

You can call 513/247-0303 or 800/582-9702 to speak to a customer service representative.

FIRST, you need to contact Union Savings Bank before any change to the deed is done. Any change to the deed needs to be approved by Union Savings Bank before the transfer can be completed as required per the mortgage you signed.

Please contact Loan Servicing at 513/247-0303 or 800/582-9702 to speak to a customer service representative or send an email to [email protected].

You will be walked through the process of having your Trust or LLC documents reviewed by USB to ensure that it complies with your mortgage.

Escrow Questions

Annually, on the anniversary of your 1st payment date, we review your escrow account to make sure there are enough funds to cover paying your taxes and/or insurance premiums during the escrow analysis computation year. We send you a summary statement of this report called an escrow analysis. It includes a review of activity in your escrow account during the past 12 months, with projections for the next 12 months. This helps us determine the amount you need to pay into your escrow account each month, so we can pay your taxes and/or insurance obligations on your behalf for the next 12 months.

NEW MONTHLY PAYMENT BREAKDOWN
FOR THE NEXT 12 MONTHS EFFECTIVE 03/01/2023
P & I 495.08
ESC PMT REQ 172.53
SURPLUS 0.00
DEFICIENCY 0.00
ESCROW ROUNDING 0.00
OPTIONAL 0.00
TOTAL 667.61

Increases or decreases in your real estate taxes or insurance premiums may cause a surplus or shortage in your escrow account. If disbursements from your escrow account were lower than expected, your account may have a surplus. If disbursements from your escrow account were higher than expected, your account may have a shortage.

The cushion is reserve, held in your escrow account, used to help cover increases in real estate taxes or insurance premiums.

Escrow means one monthly payment

When you borrow money to purchase a home, you’ll have several bills:

  • Mortgage payment
  • Property taxes
  • Homeowners insurance
  • Private Mortgage Insurance (in some instances)

The lender takes on the responsibility of collecting your escrow payment monthly. This will be included in your full monthly mortgage payment. To determine your monthly amount for escrow, we take each escrow item, such as current tax and insurance amounts, and divide those by 12.


Example of your Escrow Billing

You just purchased your new home. Let’s say your bills look like this:

  • Mortgage: $1,000 each month/ $12,000 a year
  • Property taxes: $1,200 every six months/ $2,400 a year
  • Homeowners insurance: $900 every six months/ $1,800 a year
  • Private Mortgage Insurance: $1,800 a year

Together, these add up to $18,000 for the year. With an escrow account you’ll pay a monthly bill of $1,500 to the bank. Then, the bank will pay each of these bills for you as they come due.
An escrow account can be optional, based on Bank policy. But many new homeowners choose to escrow even if they don’t have to. They like knowing they won’t have to save for tax and insurance bills.

Escrow Made Simple

  • Let Union Savings Bank know as soon as possible! You need to let us know whether or not you have an escrow account with us.
  • Make sure your new insurance policy has your Union Savings Bank account number and Union Savings Bank’s Mortgagee Clause below:

    Union Savings Bank
    ISAOA / ATIMA
    8805 Governors Hill Drive
    Cincinnati, OH 45249

  • E-mail your new policy declarations page to [email protected]
  • If you receive an insurance premium refund from your insurance company and you have an escrow account with Union Savings Bank, please reach out to our Escrow Department at [email protected] or (513) 247-0303 to discuss if the funds need to be deposited back into your escrow account.

Default Servicing Questions

• No. There should never be a fee to obtain assistance or information about foreclosure prevention options from USB or a qualified housing finance agency.
• Never send a mortgage payment to a company except the one listed on your monthly mortgage statement.
• Beware of scams and anyone offering to help you for a fee (see Beware of Foreclosure Rescue Scams! for additional information).

Foreclosure is the loss of your home through a legal process where USB or a third party acquires the property at a foreclosure sale.

• You must move or you will be evicted from the property.
• It may be as long as seven years before you are eligible for another mortgage.
• You and any additional borrower listed on the mortgage may experience negative credit implications.

If you disregard USB’s notices, USB may refer your mortgage to foreclosure as authorized by your mortgage documents and applicable law.

• Yes, the sooner the better! If you wish to keep your home, contact USB immediately.
• You may also contact a HUD-approved housing counselor (see Additional Resources) and request a three-way call that would include you, the HUD-approved housing counselor, and USB to discuss your hardship.
• A HUD-approved housing counselor can also provide free advice on debt management.

• Yes, but it is important that you reach out to USB as soon as possible to discuss potential options. If USB receives your complete Mortgage Assistance Application with only 37 or fewer calendar days before the scheduled foreclosure sale, there is no guarantee that USB will be able to evaluate you for mortgage assistance in time to stop the foreclosure sale.
• Even if USB approves you for a foreclosure alternative prior to a sale, a court with jurisdiction over the foreclosure proceeding (if any) or public official charged with carrying out the sale may not be able to halt the scheduled sale.

No. Your property will not be sold at a foreclosure sale if you accept a foreclosure avoidance option and comply with its requirements.

You should contact USB as soon as possible. We are here to help you adjust to these events and provide you with information on where to send the mortgage payments. Please contact us to obtain a list of documentation that is needed to confirm your identity and ownership interest in the property, and to discuss next steps.