Best Banks and Credit Unions in Utah
Whether you are looking for the best national banks in Utah, a local community bank, or a credit union, here are our top 10 picks.
1) Central Bank
Savings APY: 0.15% with a minimum opening balance of $100
CD APY: 1.25% – 60 days to 6 months, with a $500 minimum opening balance
Monthly Fees: $3 on Statement Savings; no monthly fee for checking accounts
Insured by: FDIC (Federal Deposit Insurance Corporation)
How many branches are in the State? Central Bank has a strong presence across Utah County, with branches and ATMs located in 11 locations.
Pros:
- A full range of personal and business banking products & financial services
- Good customer service
- No fees at First Utah Bank ATMs or MoneyPass ATMs
- Free business checking account options available
Cons
- Interest compounded quarterly on many accounts
- A local bank with no branches nationally
Central Bank, established in 1891, is one of the best regional banks in Utah with over $1 billion in assets. It is headquartered in Provo, Utah. It is a full-service bank with an array of products that include checking accounts, savings accounts, mortgages, CDs, credit cards, and more. It also offers a wide selection of business banking solutions.
The bank stands out with its top-rated customer service and fairly good interest rates as compared to other national banks. With online banking and a robust mobile app, it also makes banking easier and hassle-free for all.
2) First Utah Bank
Savings APY: 0.50% to 1.01% depending on account balance
CD APY: 0.75% – 6 months, with a $500 minimum opening balance for Fixed Rate CD accounts
Monthly Fees: No monthly fee on most accounts
Insured by: FDIC (Federal Deposit Insurance Corporation)
How many branches are in the State? First Utah Bank has 7 branch offices and several ATMs in Utah county.
Pros:
- An array of account choices is available
- Excellent customer service
- Higher-than-average APYs for CD accounts
- A broad range of online banking services are also available
- No monthly fee is applicable to checking accounts
Cons
- Interest rates are compounded quarterly
- Require to maintain a minimum daily balance to earn interest
First Utah Bank was established in 1978 and is serving the community for more than 40 years. It is one of the top community banks in Utah with a broad range of products such as checking & savings accounts, debit cards, credit cards, personal lines of credit, loans, and treasury management.
It offers 24/7 banking via online and mobile banking platforms while leveraging cutting-edge technology for fraud prevention, online security, and identity theft. The bank is known for its customer services, fairly good savings APYs and presence across the Utah county.
3) Zions Bank
Savings APY: 0.16% with a minimum $1,000 account balance
CD APY: 0.10% – 1 month, with a $1,000 minimum opening balance
Monthly Fees: $3 monthly fee on savings; No monthly fee on any Anytime Checking account
Insured by: FDIC (Federal Deposit Insurance Corporation)
How many branches are in the State? Zions Bank has 122 full-service financial centers across Idaho, Utah, and Wyoming. It has 95 branches in Utah and a number of ATMs.
Pros:
- 100+ years of experience serving the local community
- Access to a large number of bank branches across Utah
- A wide selection of savings & checking account options
- No monthly maintenance fee on CD and checking accounts
Cons
- Low APYs on savings accounts
Headquartered in Salt Lake City, Utah, Zions Bank is one of the oldest banking institutions in the Intermountain West. It has a wide product selection, including traditional banking and technology services, catering to individuals, small businesses, corporations, non-profits, and institutions.
Its products include checking & savings accounts, debit cards, credit cards, loans, mortgages, community banking, business banking, and wealth management. The bank also offers a wide range of digital solutions like online banking, bill pay, wire transfer, online money market, deposit-ready ATMs, and much more.
4) Wells Fargo Bank
Savings APY: 0.01% – 1.01% depending on the type of account and account balance
CD APY: 0.10% – 3 months for Standard Fixed CD, with a $4,999 minimum opening balance
Monthly Fees: $5-$10 on savings; up to $35 on checking accounts
Insured by: FDIC (Federal Deposit Insurance Corporation)
How many branches are in the State? Wells Fargo has over 4,900 branches and 12,000 ATMs across the country. In Utah, it has around 78 branches and ATMs
Pros:
- Easy-to-use and convenient online & mobile banking
- An array of banking products and financial services to choose from
- Higher rates of interest on premium CD accounts
- Top-rated customer service
- The waivable monthly fee on checking & savings accounts
Cons
- Lower APY on checking and savings accounts
- The monthly maintenance fee can be higher on some accounts
Wells Fargo, headquartered in San Francisco, California, is one of the top four national banks in the United States. It has a nationwide presence in over 35 countries. The bank has a wide product selection, including personal & business savings and checking accounts, personal loans, commercial banking, investments, mortgages, corporate & investment banking, wealth management, and more.
The bank has a net worth of $1.955 trillion. In addition to an excellent brick-and-mortar banking experience, Wells Fargo also provides a round-the-clock online & mobile banking facility.
5) Chase Bank
Savings APY: 0.01% (variable rates)
CD APY: 0.02% – 1-month term, with a $1,000 minimum opening balance
Monthly Fees: $0-$5 on Chase savings; up to $25 on checking accounts
Insured by: FDIC (Federal Deposit Insurance Corporation)
How many branches are in the State? Chase Bank has over 4,700 branches and 16,000 ATMs in the United States. It has around 48 branches and ATMs in Utah.
Pros:
- Monthly maintenance fees can be waived by maintaining a monthly minimum balance
- A variety of account options and financial services
- Fast and convenient banking online as well as a mobile app
- Attractive bonus on checking accounts
Cons
- Lower APY on checking and savings accounts
- Monthly maintenance fees can be as high as $25
Chase Bank was founded in 1799 and is one of the oldest financial institutions in the United States. It is also one of the largest banks in the country, serving the nation for over 223 years. In addition to a global presence in over 100 countries, it also brings round-the-clock banking via its online and mobile banking platforms.
The bank offers a wide range of banking products, including savings & checking accounts, credit cards, mortgages, auto loans, investments, payment processing, business lending, etc.
6) First Community Bank
Savings APY: 0.06% (variable rates) with a minimum balance of $100
CD APY: 0.01% – 1-month term, with a $1,000 minimum balance
Monthly Fees: $2 on Personal Savings; $0 on most checking accounts
Insured by: FDIC (Federal Deposit Insurance Corporation)
How many branches are in the State? First Community Bank has 10 branches located in 7 different locations in the state of Utah.
Pros:
- Multiple banking products and financial services to choose from
- Robust mobile app for 24/7 banking on the go
- Customer service via live chat
- Totally free business checking accounts
Cons
- Below-than-average APYs
First Community Bank was founded in 1905 as First National Bank of Layton, but was acquired by Glacier Bancorp in 2019 and was branded as First Community Bank Utah, Division of Glacier Bank. It is one of the best community banks in Utah, serving the region with a customer-friendly approach and personal attention.
Despite being a local bank, First Community bank offers an array of banking products and financial services that include checking accounts, savings & CDs, car loans, home equity, mortgages, credit cards, personal loans, and mortgages. It also offers various business banking and lending solutions.
7) KeyBank
Savings APY: 0.25%
CD APY: 0% to variable rates depending on the type of CD account and term
Monthly Fees: $4-$20 monthly service fee on savings; $0-$50 on checking accounts
Insured by: FDIC (Federal Deposit Insurance Corporation)
How many branches are in the State? KeyBank has a national presence in 15 states, with more than 1,000 full-service branches and over 40,000 ATMs across the United States. In Utah, it has branches and ATMs in 21 cities and towns.
Pros:
- Free checking account
- Online banking and mobile app for 24/7 banking
- The monthly maintenance fee can be waived off
- Free overdraft protection
Cons
- High monthly maintenance fee on both savings and checking accounts
- Low APY on savings and CD accounts
KeyBank, based in Cleveland, Ohio, is one of the top financial institutions in the United States with assets worth $187 billion. The bank has a wide product selection, including savings & checking accounts, small business banking, insurance and investing, credit cards, home loans & mortgages, lines of credit, business and institutional banking, and wealth management.
The choice of checking and savings accounts is plenty, and some of these accounts also offer zero monthly service fees. For 24/7 banking, KeyBank offers online and mobile banking platforms to its customers. The bank also provides the option to open an account online.
8) America First Credit Union
Savings APY: 0.05% for Share Savings
CD APY: 1.50% for a 3-5 months term and $500 minimum earning balance
Monthly Fees: $6 on checking accounts
Insured by: NCUSIF (National Credit Union Share Insurance Fund)
How many branches are in the State? America First Credit Union has branches and ATMs across Utah, Idaho, Arizona, Nevada, and New Mexico.
Pros:
- Free nationwide access to 30,000 ATMs under the Co-op network
- Competitive APYs on share certificates
- Low-cost checking account options
- Multiple choices in checking and savings accounts
Cons
- High monthly fees are applicable if certain criteria are not met
- $25 overdraft charges
- Membership limited only in specific Western states
- No shared branches available
America First Credit Union was established in 1939 and has been serving the community for 82 years. It aims at helping people maintain financial well-being. Branches and members are limited to the West in the counties of Utah, Idaho, Arizona, Nevada, and New Mexico.
The bank offers multiple checking & savings account options, including student savings, youth savings, money market, wedding savings, certificate accounts, and more. It also offers an array of digital banking and financial services. It is one of the few credit unions in Utah with such an exceptional range of loans and mortgages.
America First Credit Union also has a broad spectrum of banking products & services for businesses.
9) America First Credit Union
Savings APY: 0.01%
CD APY: 0.05% for a 1-month term and $500 minimum deposit balance
Monthly Fees: $4 on Standard Savings accounts
Insured by: FDIC (Federal Deposit Insurance Corporation)
How many branches are in the State? U.S. Bank has branches and ATMs across the country. In Utah, it has branches in 16 locations.
Pros:
- Waivable monthly maintenance fees
- Enjoy higher APYs on CD Special accounts
- Low minimum account balance requirements
- Multiple savings and checking account options
Cons
- High monthly service fee if the minimum account balance is not maintained
- Below-average interest rates on most checking and savings accounts
- Need to maintain a specific daily minimum balance to open a savings or checking account
U.S. Bank, headquartered in Minneapolis, is the 5th largest bank in the United States. It has branches in more than 40 states, including Utah. Its product selection is pretty vast and includes personal checking & savings accounts, credit cards, loans, mortgages, commercial banking, business banking, retirement & investments, wealth management, etc.
The bank also offers several online & mobile banking solutions such as payments & transfers online, bill pay, 24/7 access to your accounts, check deposit, and more. It is ranked No.150 on the list of Fortune 500 companies.
10) Mountain America Credit Union
Savings APY: 0.05% with a $100 minimum earning balance
CD APY: 2.50% for a 6-month term and a $500 minimum balance
Monthly Fees: No monthly service fees on savings; $7 fee on checking account
Insured by: NCUA (National Credit Union Administration)
How many branches are in the State? Mountain America Credit Union has 71 branches across the state of Utah
Pros:
- No minimum balance requirements on most accounts
- No monthly maintenance fee on savings accounts
- A wide selection of banking products, accounts, and financial services
- High APYs on CD accounts
Cons
- Below-average APY on savings accounts
- Membership required
Mountain America Credit Union was established in the 1930s with the objective of financially supporting fellow members. It is a not-for-profit financial institution, that provides affordable products, personalized service, financial education, and community involvement.
The credit union provides a complete suite of financial services that include savings & checking accounts, loans, credit cards, retirement planning, SBA loans, and more. It offers a wide range of investment options and financial services. Today, it has over 90 branches in Utah, Montana, Idaho, New Mexico, Arizona, and Nevada.
Through the mobile app and online banking, it ensures round-the-clock banking.
11) Goldenwest Credit Union
Savings APY: 0.05%
CD APY: 2.75% for an 8-month term and a $500 minimum balance
Monthly Fees: No monthly service fees on savings; $5 fee on checking account
Insured by: NCUA (National Credit Union Administration)
How many branches are in the State? Goldenwest Credit Union has 38 branches across 8 counties in the state of Utah. Additionally, it provides free access to 30,000 ATMs.
Pros:
- No monthly maintenance fee on most accounts
- Low minimum account balance requirement
- Online account opening option available with Reward Yourself checking account
- A wide selection of products and services
Cons
- Presence only in Utah and Idaho
Goldenwest Credit Union is the third-largest credit union in the state of Utah, with a presence across 8 counties. Their product selection includes checking accounts, savings accounts, credit cards, home equity, loans, retirement planning, insurance, business banking & borrowing, and more.
It also offers a broad spectrum of online banking, mobile banking, financial planning, and security solutions.