Custody Services

Union Bank & Trust Company (UB Trust Division) is an FDIC-insured commercial bank located in Minneapolis, Minnesota. The bank provides custody and securities portfolio servicing over $7 billion of client assets - both domestic and international.

UB Trust Division offers a wide variety of services related to domestic and global custody, clearing and trade settlement and securities lending. The client base is small but distinguished and includes many Taft-Hartley plans, corporations and public pension funds.

UB Trust Division has been providing custody services since 1981. The first global custody services were initiated in 2005.

Taft-Hartley

UB Trust Division was formed to provide custody services for Taft-Hartley employee benefit plans and this is still our core business more than 30 years later. We have dedicated ourselves to providing the highest quality of service at the lowest possible cost, and have kept pace with the rapidly changing technological environment in which we work. In keeping with those changes, we now offer fully automated mutual fund clearing and custom services for trustee and participant directed defined contribution plans.

We are very good at what we do. Our knowledgeable and professional staff, with an average of 15 years of trust experience, is dedicated to ensuring that our clients receive the finest service delivered in a competent and friendly manner. And, of course, we continue to be a union shop. All of our non-officer employees are members of the Office and Professional Employees International Union, Local 12.

Custody

Managing an investment portfolio requires technical expertise in administration, reporting, and keeping up with the markets. Most of all, it requires time - time that could be spent running your investment or financial planning business. Let UB Trust Division safekeep and protect your assets. Our custody services can save you time and money and help you make the most of your money.

Services Offered

  • Safekeeping of assets
  • Trade settlement
  • Income collection
  • Cash received swept daily into the money market fund of your choice
  • Transaction and asset statements on trade or settlement date basis, with or without accruals
  • Electronic transfer of stocks and bonds
  • Re-registration of securities
  • Corporate action processing
  • Posting of dividend and interest accruals
  • Tax reclamation and relief at source
  • Proxy voting
  • Class actions
  • Accounting and valuations
  • Regulatory and specialist reporting
  • Web based information delivery
  • Disbursements via check, wire or ACH
  • Detailed transaction history
  • Asset reconciliation
  • Disbursement detail

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©2017 Union Bank & Trust. All Rights Reserved

Products and services offered through the Trust Division of Union Bank & Trust are not insured by FDIC, are not a deposit or other obligation of, or guaranteed by, the depository institution, and are subject to investment risks including possible loss of the principal amount invested.