Best Banks and Credit Unions in Montana
If you’re looking for the best banks in Montana, you’re in the right place. This is our list of the best banks in Montana, based on a number of factors that we will discuss below.
Find the best CD rates in Montana here.
1. Opportunity Bank of Montana
Savings APY: 0.05% with a minimum deposit of $00
CD APY: 1-year – 0.65% and 2-year – 0.80% with a minimum deposit of $500
Monthly Fees: $0
Federally Insured by: FDIC
How many branches are in the State? Montana has 32 full-service locations
Pros:
- Low Fees
- Easy access to mobile app
- Multiple Banking Products.
- Terms inside your price range.
- Fast approval of loans.
Cons
- Rates may be affected by credit scores.
- Only available in a few counties.
- Prepayment penalties may apply.
First on our list of the best banks in Montana, Opportunity Bank of Montana was established in 1922, with headquarters in Helena, Montana. It has $702 million in assets and $521 million in deposits, classifying it as a medium-sized bank. Savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products, and credit cards are among the products offered by Opportunity Bank of Montana. It has a reasonable savings rate and offers better rates.
2. First Interstate Bank
Savings APY: 0.25% with a minimum deposit of $50K and different for minors
CD APY: 13-month – 3.00%, 25-month – 3.00% and 37-month – 0.25% with minimum deposit of $1K
Monthly Fees: $4 unless maintaining a daily minimum balance of $200
Federally Insured by: FDIC
How many branches are in the State? First Interstate Bank has over 300 branches throughout the country.
Pros:
- High-yield CDs and occasionally promotional rates are available.
- Several checking options.
- Numerous ways to avoid monthly service fees.
Cons
- Basic savings alternatives with low APYs
- Certain accounts are more expensive than others.
Based in Billings, Montana Financial holding company First Interstate BancSystem, Inc. It is the owner of First Interstate Bank, a local bank with locations in Wyoming, Idaho, Montana, Oregon, South Dakota, and Washington. Additionally, it is the 73rd-largest bank in the country. It was started in 1916.
First Interstate Bank in Missoula, MT provides a broad array of personal and commercial products to serve your diversified financial needs.
3. Bank of Bozeman
Savings APY: 0.10% with a $2500 minimum balance
CD APY: 6-month to 24 months – 0.40% with a minimum deposit of $10K
Monthly Fees: $0
Federally Insured by: FDIC
How many branches are in the State? Bank of Bozeman has only one branch in Montana. Bank of Bozeman is Montana’s 34th largest bank and has no offices outside of the state.
Pros:
- Supervised by the FDIC.
- A subsidiary of Bozeman Bancorp, Inc.
- Invest in local community deposits.
Cons
- Only 1 branch in Montana.
The Bank of Bozeman was founded in 2005. It provides a wide range of goods and services, including checking and savings accounts, loans, business services, mortgages, investments, insurance, and online and mobile banking technology. This bank is a commercial bank with a state charter and is not a member of the Federal Reserve.
4. Farmers State Bank
Savings APY: 0.05% with a minimum balance of $1
CD APY: 1-year – 0.05%, 2-year – 0.75% with minimum deposit of $1000
Monthly Fees: $0
Federally Insured by: FDIC
How many branches are in the State? Farmers State Bank now has 11 banking locations across four counties in Northeast Indiana and Southwest Michigan.
Pros:
- CDs can be an excellent way to increase your returns.
- Several deposit products.
Cons
- No options for live chat or all-day service.
Farmers State Bank, which has its headquarters in Victor, Montana. Farmers State Bank, founded in 1907, has $375 million in assets and $322 million in deposits, classifying the organization as a small bank.
Farmers State Bank offers a full range of banking services, such as savings accounts, checking accounts, money market accounts, CDs, IRAs, mortgage products, and credit cards.
5. Valley Bank of Helena
Savings APY: 0.90% with no minimum balance
CD APY: 1-year – 3.5% with a minimum deposit of $500
Monthly Fees: $2
Federally Insured by: FDIC insurance
How many branches are in the State? Five convenient branch locations.
Pros:
- Easy access to your savings.
- Variable rate CDs available.
- Enjoy no monthly service fees
Cons
Valley Bank of Helena is an FDIC-insured bank in Helena, Montana. It was created in 1978 and has a market capitalization of roughly $0.46 billion. Valley Bank of Helena, with over 40 years of community service, joined the Glacier family in 1998. They will continue to serve their communities with the same personal care that their customers have come to expect, but with the additional resources of their extended banking family.
Checking and savings accounts, online and mobile banking services, and commercial, personal, and real estate loans to help you reach your goals are all available.
6. Bank of Bridger
Savings APY: currently not available.
CD APY: currently no rates are available
Monthly Fees: no fee with a minimum daily balance of $50.
Federally Insured by: FDIC insurance
How many branches are in the State? The Bank of bridger has 10 branches.
Pros:
- Free online banking.
- Earns market rate of interest paid quarterly
Cons
- Limited account choices.
Bank of Bridger, last up on our list of the best banks in Montana, is an FDIC insured financial institution. It was created in 1906 and has assets worth around $0.76 billion. Customers can open an account at any of the company’s ten locations.