Running a Business

Learn the ins and outs of business finance

Running a business can be hard work, but it's also incredibly rewarding. Learn how to manage your company's finances so you can keep doing what you love for years to come.

Frequently Asked Questions

What is UBT's Wire SWIFT Code for receiving an international wire?

SWIFT Code: UNTUUS42

To assist our customers living abroad or with family members who live outside of the United States, we have an International Wire SWIFT Code. Use the information below to send a wire to a Union Bank & Trust account:

  1. Receiving Bank: Union Bank & Trust Co.
  2. SWIFT Code: UNTUUS42
  3. Beneficiary: Union Bank & Trust Co. Account Name
  4. Address: Union Bank & Trust Co. Account Address
  5. Account Number: Union Bank & Trust Co. Account Number
What are the advantages to my patients?

A patient account financing program helps your patients in the following ways: 

  • Manageable monthly payments
  • Patients able to add to their existing loan
  • Every patient is treated with a high level of respect and integrity
What patient account financing reports are available to us?

On a monthly basis you will receive:

  • Outstanding volume summary report 
  • Account-level information on new loans and repurchases sent daily
  • Analysis on the YTD repurchases and delinquent accounts
How can a patient account financing program improve our cash flow?

There are several components that will save your staff time and effort:

  • Immediate account resolution via ACH
  • Decrease A/R days and bad debt
  • Eliminate additional expense of collecting accounts in-house
Do employees get a tax benefit from an HSA?

Employee contributions to an HSA can be made by payroll deductions or personal deposits. When an employee makes contributions through a payroll deduction and is ran through a Section 125 plan (also called a salary reduction or cafeteria plan) these dollar are pre-tax, including social security tax. If employees make personal deposits into their HSA it is on a post tax basis. The amount can be deducted from their taxable income but they will not recover the social security tax.

Is this really less expensive for the business?

Yes. High-deductible health plan premiums are much lower than the typical HMO and PPO premiums. Many businesses are finding these health plans affordable for their companies and their employees.

Learning Center articles, guides, blogs, podcasts, and videos are for informational purposes only and are not an advertisement for a product or service. The accuracy and completeness is not guaranteed and does not constitute legal or tax advice. Please consult with your own tax, legal, and financial advisors.