What does it take to be selected as one of the best banks in America?
To answer that question, Time magazine’s MONEY compared the largest financial institutions in the country – including 90 brick-and-mortar banks, 50 credit unions, and 15 online banks – to see who is giving the consumer the best overall experience and value for their money. The result is a list of the best financial institutions in each state, 20 of whom are EVERFI partners.
Criteria for the Best Banks in America List
To make its selections, MONEY looked for banks that met the following criteria:
- Low or no ATM fees
- Checking accounts with no (or easily waived) monthly fees
- Checking accounts with low or no penalties for carrying a low balance
- Good J.D. Power customer service ratings
- No recent enforcement actions or violations
- Wide geographic reach within a state
- Positive ratings of the bank’s mobile apps (on iTunes and Google Play)
According to MONEY, although two-thirds of consumers prefer to do their banking online or via the phone, financial institutions hoping to expand shouldn’t get rid of physical branches altogether. More than 70% of consumers still visit banks regularly and, surprisingly, Millennials are less likely than Gen Xers to move their banking completely online. Bottom line? Banks and credit unions that want to be customer-centric need to be able to demonstrate both mobility and availability—online and off.
EVERFI’s Partners Make the Grade
At EVERFI, we take pride in helping banks and credit unions give back to their communities through financial education programs tailored to consumers, employees, businesses, and students. With outreach programs that are truly consumer-focused, it comes as no surprise that 20 of our partner financial institutions made it onto the list of Best Banks in America. We’re proud to support their success, and we extend a hearty congratulations to our partners who have been nationally recognized for their excellence.
Congratulations to our partner financial institutions who were selected as a Best Bank in America, listed below in alphabetic order:
- Bank of the Ozarks
- Bank of the West
- Bethpage Federal Credit Union
- Boeing Employees Credit Union
- Digital Federal Credit Union
- First Hawaiian Bank
- Fulton Bank
- Glacier Bank
- Northwest (Savings) Bank
- Provident Bank
- Renasant Bank
- Suncoast Credit Union
- TD Bank
- U.S. Bank
- Union Bank & Trust
- University of Iowa Community Credit Union
- Washington Federal
- Wings Financial
- Wright-Pratt Credit Union
To find out more about how EVERFI is helping banks and credit unions give back to their communities and expand their reach through financial education, contact us at EVERFI.com/FinEd.