NerdWallet Consumer Banking Index

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Criteria | Bank Reports | Credit Union Reports

Consumers are faced with hundreds of options when it comes to where to bank. While variety can be a good thing, many people don’t know where to start. They might not know what to look for in a bank or credit union, what types of accounts they need (or don’t), or even what kinds of banking services are important to them. Unfortunately, this means that far too many consumers choose a bank or credit union with insufficient information, and an unclear idea of whether or not that institution meets their needs.

NerdWallet hopes to help fill this void by vetting financial institutions based on what matters most to real people. Unlike other bank ratings that focus on financial potential for investors or others in the industry, NerdWallet evaluated financial institutions based on their consumer potential – how well does each bank meet our basic needs.

With the right information, consumers can learn which banks and credit unions are the best for their personal needs, and discover those that stand out from the pack.

Criteria

What are the top 5 factors that consumers care about when it comes to choosing a place to bank?

A NerdWallet survey revealed 5 important factors deemed critically important when searching for a new financial institution.

Critical to 94% of consumers

  • No monthly fees
  • No minimum balances to maintain
 

Critical to 86% of consumers

  • Online account access
  • Mobile account access (mobile app or web)

Critical to 85% of consumers

  • Basic savings account available
  • Above-average* interest rate

Critical to 76% of consumers

  • Large network of surcharge-free ATMs
  • Regional or nationwide branch access

Critical to 66% of consumers

  • FDIC insured up to the legal maximum

*Based on the national average savings rate as reported by the FDIC

Reports

How do individual banks and credit unions stack up against the critical five consumer criteria?

NerdWallet compiled an individual summary report for 100 of the nation’s largest banks and credit unions. Our results are meant to be an indicator of which consumer accounts and services each bank or credit union meets at the most basic level. Not every one meets all criteria, however our intent is not to provide a “ranking” of financial institutions. We instead hope to shed light on the areas in which each excels. Please select a bank or credit union below to learn more.

Banks

Ally Bank Midvale, UT (Online Bank)
American Express Salt Lake City, UT (Online Bank)
Associated Bank Green Bay, WI
Bank of America Charlotte, NC
Bank of Oklahoma Tulsa, OK
Bank of the West San Francisco, CA
Barclays Wilmington, DE (Online Bank)
BB&T Winston-Salem, NC
BBVA Compass Birmingham, AL
BMO Harris Bank Chicago, IL
Capital One Bank McLean, VA
Capital One 360 McLean, VA (Online Bank)
Charles Schwab San Francisco, CA (Online Brokerage)
Chase Chicago, IL
Citibank New York, NY
Citizens Bank Providence, RI
City National Bank Beverly Hills, CA
Comerica Bank Dallas, TX
Commerce Bank Kansas City, MO
Discover Bank Greenwood, DE (Online Bank)
E*TRADE Bank Arlington, VA (Online Brokerage)
East West Bank Pasadena, CA
Fifth Third Bank Cincinnati, OH
First Niagara Bank Buffalo, NY
First Republic Bank San Francisco, CA
First Tennessee Bank Memphis, TN
First Citizens Bank Raleigh, NC
FirstMerit Bank Akron, OH
Frost Bank San Antonio, TX
GE Capital Bank Draper, UT (Online Bank)
HSBC Bank USA New York, NY
Hudson City Savings Bank Paramus, NJ
Huntington Bank Columbus, OH
KeyBank Cleveland, OH
M&T Bank Buffalo, NY
New York Community Bank Westbury, NY
OneWest Bank Pasadena, CA
People’s United Bank Bridgeport, CT
PNC Bank Pittsburgh, PA
Popular Community Bank San Juan, PR
Regions Bank Birmingham, AL
Santander Wilmington, DE
SunTrust Bank Atlanta, GA
TCF Bank Wayzata, MN
TD Bank Portland, ME
U.S. Bank Minneapolis, MN
Union Bank San Francisco, CA
USAA San Antonio, TX (Online Bank)
Webster Bank Waterbury, CT
Wells Fargo San Francisco, CA

Credit Unions

Alaska USA Anchorage, AK
Alliant CU Chicago, IL
America First CU Riverdale, UT
American Airlines CU Fort Worth, TX
Bank-Fund Staff FCU Washington, DC
BECU Tukwila, WA
Bethpage FCU Bethpage, NY
CEFCU Peoria, IL
DCU Marlborough, MA
Delta Community CU Atlanta, GA
Desert Schools FCU Phoenix, AZ
DFCU Financial Dearborn, MI
Eastman CU Kingsport, TN
Ent FCU Colorado Springs, CO
ESL FCU Rochester, NY
First Tech FCU Mountain View, CA
Golden 1 CU Sacramento, CA
Hudson Valley FCU Poughkeepsie, NY
Kinecta FCU Manhattan Beach, CA
Lake Michigan CU Grand Rapids, MI
Logix FCU Burbank, CA
Mountain America CU West Jordan, UT
Navy Federal Vienna, VA
Northwest FCU Herndon, VA
OnPoint Community CU Portland, OR
Patelco CU Pleasanton, CA
PenFed Alexandria, VA
Police & Fire FCU Philadelphia, PA
PSECU Harrisburg, PA
Randolph Brooks FCU Universal City, TX
Redstone FCU Huntsville, AL
SACU San Antonio, TX
San Diego County CU San Diego, CA
SchoolsFirst FCU Santa Ana, CA
SECU Linthicum, MD
Security Service FCU San Antonio, TX
SEFCU Albany, NY
Space Coast CU Melbourne, FL
Star One CU Sunnyvale, CA
State Employees’ CU Raleigh, NC
State Farm FCU Bloomington, IL
Suncoast Schools FCU Tampa, FL
Teachers FCU Smithtown, NY
Tinker FCU Oklahoma City, OK
Tower FCU Laurel, MD
United Nations FCU Long Island, NY
Visions FCU Endicott, NY
VyStar CU Jacksonville, FL
Wings Financial Apple Valley, MN
Wright-Patt CU Fariborn, OH

NerdWallet strives to provide the most reliable and valuable information possible, however we cannot guarantee the accuracy and completeness of the information provided in our consumer banking index reports. If you have a questions or comments about our information, or if you would like us to list a bank that is not already available, please direct your inquiries to banking@nerdwallet.com.

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