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When Union Federal Savings Bank first opened its doors in North Providence, Rhode Island, in 2001, it was as a neighborhood financial institution whose fundamental philosophy was to cultivate long term relationships with our customers while providing products and services that satisfy their financial needs. Since that first day, the company has grown considerably, both in size and in our product offerings, yet its commitment to quality customer service remains the cornerstone of the bank. Union FSB was acquired by The First Marblehead Corporation in 2006 but kept its name. Unlike other financial institutions, Union Federal Savings Bank chooses to offer only a select few products. These products have been hand-picked by the bank for its customers and primarily consist of money market accounts and certificates of deposit (CDs). Additionally, Union offers student loans and home mortgages. This bank profile is not an endorsement or advertisement for the bank's products and services. RateZip is an independent publisher of bank information.