Best Banks and Credit Unions - NerdWallet (2024)

Table of Contents
Best banks and credit unions Alliant Credit Union: Best credit union Ally Bank: Best bank and best CDs Charles Schwab: Best for ATM access Chase: Best for sign-up bonuses and best for branch access Discover® Bank: Best online banking experience SoFi: Best for checking account overall and best checking account for overdraft fee avoidance UFB Direct: Best savings account Vio Bank: Best money market account Compare the best savings and money market accounts Compare the best CD accounts Compare the best checking accounts Compare the best banks, credit unions and cash management accounts Compare the best bank accounts for students and kids Summary of the best banks and credit unions of 2024 FAQs

The best bank or credit union for you depends on what you’re in the market for: a savings account, a checking account or some other service. Whatever you're looking for, NerdWallet has you covered.

Here is an overview of the best overall institutions and accounts of 2024.

+ See a summary of NerdWallet's best banks and credit unions of 2024

Best-of 2024 Banking Winners:

  • Alliant Credit Union: Best credit union.

  • Ally Bank: Best bank; best CDs.

  • Charles Schwab Bank: Best for ATM access.

  • Chase: Best for sign-up bonuses; best for branch access.

  • Discover® Bank: Best online banking experience.

  • SoFi: Best checking account overall; best checking account for overdraft fee avoidance.

  • UFB Direct: Best savings account.

  • Vio Bank: Best money market account.

Best banks and credit unions

NerdWallet compared and rated 60 financial institutions, including banks, neobanks and credit unions, to pick winners across eight categories. Read on for more information about the institutions and accounts that took top honors this year.

Alliant Credit Union: Best credit union

  • More than 80,000 free ATMs; interest checking available.

  • 3.10% APY on savings.

  • Read more in our Alliant Credit Union review.

Ally Bank: Best bank and best CDs

  • No overdraft fees and more than 43,000 ATMs.

  • 4.20% APY on savings and 4.50% on 1-year CD; flexible and no-penalty CDs with competitive rates.

  • Read more in our Ally Bank review.

Charles Schwab: Best for ATM access

  • Unlimited worldwide ATM fee reimbursem*nts.

  • 0.45% checking APY.

  • Read more in our Charles Schwab Bank review.

Chase: Best for sign-up bonuses and best for branch access

  • Minimum direct deposit requirement to earn cash bonus for new checking account.

  • More than 4,700 branches in 49 states.

  • Read more in our Chase review.

Discover® Bank: Best online banking experience

  • No monthly fees and 4.25% APY on savings.

  • Read more in our Discover Bank review. (Discover Bank is FDIC Insured.)

SoFi: Best for checking account overall and best checking account for overdraft fee avoidance

UFB Direct: Best savings account

  • 5.15% APY on all savings balances.

  • No minimum deposit requirement and no monthly fees.

  • Read more in our UFB Direct review.

Vio Bank: Best money market account

  • 5.30% APY on all money market balances.

  • No monthly fees.

  • Read more in our Vio Bank review.

Best Banks and Credit Unions - NerdWallet (1)

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Best Banks and Credit Unions - NerdWallet (2)

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Member FDIC

SoFi Checking and Savings

Best Banks and Credit Unions - NerdWallet (3)

APY

4.50%

Min. balance for APY

$0

See Also
How To Choose A Bank: 8 Steps To Take | Bankrate

Best Banks and Credit Unions - NerdWallet (4)

Learn More

Member FDIC

EverBank Performance℠ Savings

Best Banks and Credit Unions - NerdWallet (5)

APY

5.05%

Min. balance for APY

$0

Best Banks and Credit Unions - NerdWallet (6)

Learn More

Member FDIC

Barclays Tiered Savings Account

Best Banks and Credit Unions - NerdWallet (7)

APY

4.50%

Min. balance for APY

$0

EXPLORE MORE ACCOUNTS

» Looking for other excellent options? Browse our picks for best savings accounts and best checking accounts

Did you have something more specific in mind? If so, check out these articles:

Compare the best savings and money market accounts

Best high-yield online savings accounts

Best savings rates this month

Best money market accounts

Best high-interest accounts

Compare the best CD accounts

Best CD rates this month

Best 1-year CD rates

Best 3-year CD rates

Best 5-year CD rates

Compare the best checking accounts

Best online checking accounts

Best free checking accounts

Best rewards checking accounts

Compare the best banks, credit unions and cash management accounts

Best national banks

Best credit unions

Best banks to avoid ATM fees

Best banks for international travel

Best military banks and credit unions

Best online banks

Best socially responsible banks

Best banks for overdrafts

Best banks and credit unions for mobile banking

Best cash management accounts

Compare the best bank accounts for students and kids

Best savings accounts for kids

Best teen checking accounts

Best bank accounts for college students

Summary of the best banks and credit unions of 2024

Best-of 2024 Banking Award Winners

Best Banks and Credit Unions - NerdWallet (8)

NerdWallet rating

  • Best credit union overall.

Best Banks and Credit Unions - NerdWallet (9)

NerdWallet rating

  • Best bank overall.

  • Best bank or credit union for CDs.

Best Banks and Credit Unions - NerdWallet (10)

NerdWallet rating

  • Best bank or credit union for ATM access.

Best Banks and Credit Unions - NerdWallet (11)

NerdWallet rating

  • Best bank or credit union for sign-up bonuses.

  • Best bank or credit union for branch access.

Best Banks and Credit Unions - NerdWallet (12)

NerdWallet rating

  • Best online banking experience.

Best Banks and Credit Unions - NerdWallet (13)

NerdWallet rating

  • Best checking account overall.

  • Best checking account for overdraft fee avoidance.

Best Banks and Credit Unions - NerdWallet (14)

NerdWallet rating

  • Best savings account.

Best Banks and Credit Unions - NerdWallet (15)

NerdWallet rating

  • Best money market account.

» Looking for the biggest banks in the country? See the list of largest banks in the U.S.

We took a close look at 60 financial institutions and financial service providers, including the largest U.S. banks based on assets, internet search traffic and other factors; the nation’s largest credit unions, based on assets and membership; and other notable and/or emerging players in the industry. We rated them on criteria including annual percentage yields, minimum balances, fees, digital experience and more.

Financial institutions and providers surveyed are: Alliant Credit Union, Ally Bank, Amalgamated Bank, American Express National Bank, Axos Bank, Bank of America, Bank5 Connect, Barclays, Bask Bank, BMO, BMO Alto, Boeing Employees Credit Union, Bread Savings, BrioDirect, Capital One, Charles Schwab Bank, Chase, Chime, CIT Bank, Citibank, Citizens, Citizens Bank ,Community First Credit Union of Florida, Connexus Credit Union, Consumers Credit Union, Current, Discover Bank, E-Trade, EverBank (formerly TIAA Bank), First Tech Federal Credit Union, FNBO Direct, GO2bank, Huntington Bank, Ivy Bank, Lake Michigan Credit Union, LendingClub Bank, Marcus by Goldman Sachs, Navy Federal Credit Union, NBKC, Pentagon Federal Credit Union, PNC, Popular Direct, Quontic Bank, Revolut, Salem Five Direct, Sallie Mae Bank, Securityplus Federal Credit Union, Self-Help Credit Union, SoFi, Synchrony Bank, TAB Bank, U.S. Bank, UFB Direct, Upgrade, USAA Bank, Varo, Vio Bank, Wells Fargo and Zynlo Bank.

How we rate banks and credit unions

Methodology

Best Banks and Credit Unions - NerdWallet (2024)

FAQs

What are the best credit unions to bank with? ›

Here are some of the country's top credit unions:
  • Alliant Credit Union. Alliant offers an above-average interest rate for savings. ...
  • Consumers Credit Union. ...
  • Navy Federal Credit Union. ...
  • Connexus Credit Union. ...
  • First Tech Federal Credit Union.

Read The Full Story ›
Which bank gives 7% interest on savings accounts? ›

See how we rate banking products to write unbiased product reviews. A 7% interest savings account is hard to come by. The only institution we found offering such a high rate is Landmark Credit Union.

Show Me More ›
Which is better banks or credit unions? ›

The Bottom Line. Credit unions can be ideal for a low-interest loan, lower mortgage closing costs, or reduced fees, but you'll need to qualify for membership. Larger banks may offer you more choices regarding products, apps, and international or commercial products and services, and anyone can join.

View Details ›
What are the top 5 safest banks? ›

Summary: Safest Banks In The U.S. Of September 2024
BankForbes Advisor RatingProducts
Chase Bank5.0Checking, Savings, CDs
Bank of America4.2Checking, Savings, CDs
Wells Fargo Bank4.0Savings, checking, money market accounts, CDs
Citi®4.0Checking, savings, CDs
1 more row
Aug 30, 2024

Get More Info Here ›
What is the number one credit union in the United States? ›

1. Navy Federal Credit Union. Founded in 1933, Navy Federal Credit Union is the largest national credit union in terms of both assets and membership.

Discover More Details ›
What bank is the best one to bank with? ›

These are our top picks for the best banks, and why you might like to consider them a top option for your banking:
  • Capital One: Best online checking account.
  • Chase: Best for a large branch network.
  • Axos: Best for a variety of online account options.
  • Discover®: Best for doing all of your banking in one place.
Aug 29, 2024

Discover More Details ›
How do I get 10% interest on my money? ›

  1. Invest in the Private Credit Market. Looking for superior returns? ...
  2. Gold IRAs. Over the last 20 years, gold has returned 9.6% per year. ...
  3. Paying Down High-Interest Loans. ...
  4. Stock Market Investing via Index Funds. ...
  5. Stock Picking. ...
  6. Junk Bonds. ...
  7. Buy an Existing Business. ...
  8. Peer-to-Peer Lending.
3 days ago

View More ›
Can you get 6% on a CD? ›

You can find 6% CD rates at a few financial institutions, but chances are those rates are only available on CDs with maturities of 12 months or less. Financial institutions offer high rates to compete for business, but they don't want to pay customers ultra-high rates over many years.

Tell Me More ›
Which bank gives 8% interest on savings accounts? ›

Which bank gives 8% interest on a savings account? Currently, no banks offer an interest rate of 8% on savings accounts. However, some banks provide a 7% APY on checking accounts.

Read More ›
What is the downside of using a credit union? ›

Limited accessibility. Credit unions tend to have fewer branches than traditional banks. A credit union may not be close to where you live or work, which could be a problem unless your credit union is part of a shared branch network and/or a large ATM network such as Allpoint or MoneyPass.

Find Out More ›

Should I join a bank or a credit union? ›

Choosing between a credit union and a traditional bank comes down to what you value in your financial services provider. If you prioritize high interest rates, low fees, community involvement, and having a direct say in your institution's direction, then a credit union is likely the right choice for you.

Explore More ›
Why do banks not like credit unions? ›

For decades, bankers have objected to the tax breaks and sponsor subsidies enjoyed by credit unions and not available to banks. Because such challenges haven't slowed down the growth of credit unions, banks continue to look for other reasons to allege unfair competition.

View Details ›
What bank has the worst ratings? ›

The 10 Worst-Rated Banks in America
  • Wells Fargo.
  • Citibank.
  • Bank of America.
  • Capital One.
  • Discover Bank.
  • Citizens Bank.
  • Flagstar Bank.
  • Fifth Third Bank.

Know More ›
Which banks are high risk? ›

Seven of the 33 banks with more than $100 billion in assets are above the threshold. The Bank of New York Mellon has a 100% ratio of uninsured deposits, followed by State Street Bank, 92.6%; Northern Trust, 73.9%; Citibank, 72.5%; HSBC Bank, 69.8%; J.P Morgan Chase, 51.7% and U.S. Bank, 50.4%.

Read On ›
Which bank is least likely to go bust? ›

The top 10 safest banks in the U.S.
BankThe Ascent's RatingFDIC Insured?
Capital One4.50Yes
American Express® National Bank4.50Yes
Quontic4.50Yes
Chase4.50Yes
6 more rows
Aug 21, 2024

Read On ›
What is a credit union? - CNBCCNBChttps://www.cnbc.com ›

Credit unions are financial institutions just like banks, but they operate a bit differently. Here's what a credit union is and how it differs from a bank.
A credit union is a not-for-profit, member-owned cooperative institution that provides financial services to its members. Like a bank, a credit union accepts de...
If you're looking for an alternative to traditional banks, the best credit unions could be a good choice for you. Unlike with a bank, at a credit union, you...

View Details ›
Which credit union pays the highest interest rate? ›

Bankrate's picks for the top 1-year credit union CD rates
  • America First Credit Union: 5.10% APY, $500 minimum deposit.
  • Alliant Credit Union: 4.75% APY, $1,000 minimum deposit.
  • Delta Community Credit Union: 4.95% APY, $1,000 minimum deposit.
  • State Employees' Credit Union: 4.90% APY, $250 minimum deposit.

Discover More ›
What is the largest credit union in Arizona? ›

Celebrating more than 80 years in years in Arizona, Desert Financial is the state's largest and most trusted credit union.

See More ›
Is my money safer in a credit union or bank? ›

One question that often arises is, "Are Credit Unions Safer than Banks?" If you're looking for a short answer, you'll be happy to know that we're not making you read the whole post: Credit Unions and banks are roughly identical in safety because deposits at both are insured by the Federal government to $250,000.

Learn More ›
Who is the best bank to bank with in California? ›

Top Banks in California
  • Ally: Best bank for opening a savings account.
  • Bank of America: Best bank for opening a checking account.
  • Citi: Best bank for opening a savings and checking account.
  • Golden 1 Credit Union: Best credit union.
Aug 29, 2024

Continue Reading ›
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