Choosing the bank that’s right for you is an important decision, but that doesn’t mean it has to be difficult. This is our list of the best banks in Washington.

Find the best CD rates in Washington here.

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1) Ally Bank

Savings APY: 3.30%

CD APY: 1-year – 4.15%, 3-year – 4.25%, and 5-year – 4.25%

Monthly Fees: $0

Insured by: FDIC (Federal Deposit Insurance Corporation)

How many branches are in the State? Though Ally doesn’t have any branches, customers can access their accounts at about 43,000 ATMs via Allpoint, an interbank network that provides surcharge-free ATM access to customers of participating financial institutions. Ally will reimburse up to $10 in out-of-network ATM fees per statement cycle.

Pros:

  • Online money management options.
  • Many branches and ATMs.
  • Use buckets to organize your money and visualize what you’re saving for
  • Set up boosters to optimize and maximize your savings, even if the rate changes after you open the account
  • Make changes as new priorities arise
  • Personalized recommendations to help you save more

Cons

  • Rates differ from area to area.
  • No branches

First on our list of the best banks in Washington, Ally Bank is a full-service online bank offering competitive rates, low fees, no minimums and 24/7 customer service. Headquartered in Sandy, Utah, and founded in 2009, Ally Bank is the digital-only banking division of Ally Financial Inc., which has roots dating back to the 1920s.

Like other online banks, Ally is suitable for consumers who are comfortable banking from their mobile device, tablet or computer. Along with checking, savings, money market and certificate of deposit (CD) accounts, Ally provides mortgages, auto loans, personal loans and investing and retirement services.

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 2) First Tech Federal Credit Union

Savings APY: APY: 0.05%

CD APY: 1-year – 2.15%, 3-year – 2.40%, and 5-year – 2.75% with a minimum deposit of $500.

Monthly Fees: $0

Insured by: NCUA (National Credit Union Administration)

How many branches are in the State? It only has a few dozen branches but it provides a large network for banking and ATM with shared branching without any extra fees.

Pros:

  • No monthly fee
  • No minimum deposit for opening a checking account
  • Online appointments and in-person service at shared branches

Cons

  • Get the membership saving accounts first, then only you can open any other account.

Another one of the best banks in Washington, First Tech Federal Credit Union was founded on January 14, 1952, by Greg Mitchell. It is headquartered in Hillsboro, Oregon, and is insured by NCUA. As of 2020, it had 41 branches around the states. Even though it is very few, the shared branching option enables the customers to do their procedures smoothly!

Along with that, it also has mobile banking with two-factor authentication providing the utmost security to the customers’ data and bank accounts. It also has Call 24 which allows customers to check their balances through their cell phones. As of 2018, the banks had total assets of $12 billion and around 1 million customers.

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3) Chase Bank

Savings APY: 0.01% (the rates are variable)

CD APY: 0.02% for 1 month CD term, with a minimum deposit amount of $1000

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 more than 4,700 branches and 16,000 ATMs across the United States. In Massachusetts, the bank has branches and ATMs in 102 locations.

Pros:

  • Nationwide presence with a broad range of banking products and services to choose from
  • Waivable monthly service fees
  • Earn an attractive bonus when you open a checking account
  • Mobile and online banking facilities that make transactions hassle-free and fast

Cons

  • Comparatively lower APY on savings and CD accounts
  • Monthly fees on certain checking accounts can be as high as $25

Chase Bank is one of the largest banks in the United States, offering an array of banking and financial services. These include personal savings & checking accounts, mortgages, credit cards, auto loans, business lending, investments, and payment processing.

Established in 1799, it is one of the oldest banks in the U.S., serving its customers for more than 223 years. In addition to its global presence in 100 countries across the world, it brings banking on the go through its online and mobile banking platforms.

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4) EagleBank

Savings APY: 1.05% APY with Minimum Balance for APY $250

CD APY: 1-year -3.75%, 3-year – 4.00%, and 5-year -3.80% with a minimum deposit of $1000.

Monthly Fees: $0

Federally Insured by: FDIC (Federal Deposit Insurance Corporation)

How many branches are in the State? It only has a 20 branches but it provides a large network for banking and ATM with shared branching without any extra fees.

Pros:

  • No monthly fee
  • No minimum deposit for opening a checking account
  • High Rates
  • Mobile App Facilities
  • Multiple Banking Products

Cons

  • Smaller ATM network.
  • Deposit accounts typically offer lower APYs than national norms.

EagleBank operates as a bank. The Bank accepts deposits and makes loans, as well as provides mortgage solutions, card facilities, and online banking services. EagleBank serves clients in the United States.

EagleBank is a community bank headquartered in Bethesda, Maryland, with assets of more than $10 billion, with operations in the Washington, D.C. metropolitan area. EagleBank conducts full service commercial banking through small footprint of 20 branches in Montgomery County, Maryland, Washington, D.C., and Northern Virginia.

EagleBank is primarily known for commercial real estate (CRE) loans with CRE comprising two thirds of the bank’s loan portfolio as of September 2019, making it one of the best banks in Washington for those interested in commercial real estate.

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5) Navy Federal Credit Union

Savings APY: 0.25% with a minimum deposit of $5

CD APY: 1-year – 3.00%, 3-year – 3.30%, and 5-year – 3.35% with a minimum deposit of $1,000.

Monthly Fees: $0

Federally Insured by: NCUA (National Credit Union Administration)

How many branches are in the State? Among Navy Federal Credit Union’s 350 branches, many are located near military bases in places like Virginia, Maryland, and California. It also has 30,000+ free ATMs.

Pros:

  • No monthly fee
  • Free ATMs
  • Competitive interest rates

Cons

  • Very few branches

Next on our list of the best banks in Washington, Navy Federal Credit Union was founded on March 13, 1933, as Navy Department Employees’ Credit Union. It has a total of $158.85 Billion in assets and around 11 million customers. The CO-OP Network offers free access to more than 30,000 ATMs. Its headquarter is in Vienna, Virginia, United States.

The Navy Federal Credit Union has competitive interest rates that benefit many potential customers. Even though it has a small number of branches around the USA, it helps its customers via mobile applications and provides the best customer support.

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6) Umpqua Bank

Savings APY: 0.01% with a $25 minimum balance

CD APY: 13 months – 3.75% with a minimum deposit of $1K

Monthly Fees: $3 waivable

Insured by: FDIC (Federal Deposit Insurance Corporation)

How many branches are in the State? 350 branches

Pros:

  • To start a money market or savings account, a relatively little deposit is required.
  • Customers can choose from a variety of checking accounts, money market accounts, and CD periods.

Cons

  • Smaller ATM network.
  • Deposit accounts typically offer lower APYs than national norms.

Umpqua Bank is primarily a West Coast bank. Over the last decade, it has rapidly expanded by acquiring bank networks in West Coast states such as California and Washington. Other banks have greater deals on savings and checking accounts, especially if a higher interest rate is a priority.

Umpqua Bank provides checking, savings, money market, and CD accounts, as well as business and commercial banking services.

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7) Seattle Credit Union

Savings APY: 0.05% with minimum $1,000.

CD APY: 1-year – 3.05%, 3-year – 2.53%, and 5-year – 3.05% with a minimum deposit of $1,000.

Monthly Fees: No Monthly Service Charge

Insured by: NCUA (National Credit Union Administration)

How many branches are in the State? Seattle Credit Union has 10 branches and 30,000 surcharge-free ATMs across the United States.

Pros:

  • Nearly 30,000 surcharge-free ATMs in the Co-op Network
  • Over 5,000 surcharge-free Shared Branches in the Co-op Network
  • Free Online Banking and Bill Pay
  • Free mobile app
  • Free eStatements, the more secure and more eco-friendly way to receive your monthly statements

Cons

  • Need to maintain minimum account balance to enjoy interest earnings
  • Not too many branches in Washington

Another one of the best banks in Washington, Seattle Credit Union is a United States credit union headquartered in Seattle, Washington, chartered and regulated under the authority of the National Credit Union Administration (NCUA).

Seattle Credit Union was founded by Seattle municipal employees in 1933 under the name City Credit Union, before taking its current name in 1997. In 2003 the credit union merged with the Teamsters’ Credit Union, acquiring $11 million in assets, 3,100 new members, and a single branch location on Seattle’s Denny Way. Another merger took place in 2007, with Credit Union Northwest. In 2015, the credit union merged with Northwest Baptist Federal Credit Union

As of 2015, the chief executive officer of Seattle Credit Union is Richard Romero. In 2016 the company began offering loans for people to submit and maintain their citizenship applications. In 2017 the company dropped the “Metropolitan” from its official name, becoming Seattle Credit Union. At the same time, the company changed its logo and renovated some branches. That year they were also designated a Juntos Avanzamos institution.

Seattle Credit Union is a lender for commercial, residential, and personal loans and mortgages, and is a credit card provider, and issues checking and savings accounts, making it one of the best and most versatile banks in Washington.

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8) Verity Credit Union

Savings APY: 0.03% with minimum $5.

CD APY: 12 months 1.10%, 3-year – 2.30%, and 5-year – 2.50% with a minimum deposit of $999.

Monthly Fees: $5

Insured by: NCUA (National Credit Union Administration)

How many branches are in the State? Verity Credit Union has 8 branches and access your Verity accounts at other credit unions in the CO-OP network. Thousands of ATMs and physical branch locations available.

Pros:

  • Opening a prime share account only requires a $5 minimum opening deposit.
  • Believes in socially responsible banking
  • About 87% of our deposits are used to invest in the local economy and members through loans
  • Creating stronger, healthier, more sustainable communities

Cons

  • Membership required.
  • Not the best rates.
  • Limited accessibility.

Verity Credit Union is a not-for-profit credit union that was originally established in 1933 as Postal Works Credit Union to serve members in select counties of Washington state. Verity has been member-owned since its inception. Verity’s main branch is located in the Northgate neighborhood of Seattle, Washington.

As of 2019 Verity Credit Union has over $580 million in assets and more than 33,000 members.Verity Credit Union is noted for its social media endeavors and was the first financial institution to start a blog in 2004, which earned it a spot on Net.Banker’s Innovator of the Year awards.

Verity first began in 1933, one year prior to President Roosevelt signing the Federal Credit Union Act into law, making it the second oldest credit union in Washington. In those early days, they served postal workers and eventually expanded to all federal employees.

Over the past 80+ years, their name has changed several times, but never because of a change in ownership or a merger—simply to more accurately reflect who they serve.

Verity Credit Union has eight branches throughout the Seattle metropolitan area, making it one of the best banks in Washington for those value in-person banking.

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9) Columbia Bank

Savings APY: 0.05% with minimum $10

CD APY: 12 months 0.40%, 24 Month 1.60%, and 60 Month – 1.70% with a minimum deposit of $500.

Monthly Fees: $5

Insured by: FDIC (Federal Deposit Insurance Corporation)

How many branches are in the State? Columbia Bank has over 140 branches and ATMs in communities all across Washington, Oregon and Idaho. There’s probably a branch and an ATM just down the road or around the corner from you right now.

Pros:

  • Low Fees
  • Community-based personal service
  • Variety of checking and money market accounts
  • Highly-Rated Mobile App
  • Multiple Banking Products

Cons

  • Smaller ATM network.
  • Deposit accounts typically offer lower APYs than national norms.

Started in 1926, Columbia Bank has $6 billion in assets as well as deposits totaling $4 billion, ranking it as a large bank. Columbia Bank, whose headquarters are in Fair Lawn, New Jersey, lacks premium access to customer service, with no options for live chat or all-day service. It is a traditional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings.

On the whole, Columbia Bank is an exceptional bank that you should seriously consider, with a rating of 4.6 out of 5 stars from our team, making it one of the best banks in Washington. Columbia Bank provides customers with a full choice of banking products, which include savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. Columbia Bank has a fair savings rate, but you can find higher rates with other banks.

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10) Sound Credit Union

Savings APY: 0.05% with minimum $500

CD APY: 12 months 2.65%, 24 Month 1.55%, and 60 Month – 1.85% with a minimum deposit of $500 to $2500

Monthly Fees: $10

Insured by: NCUA (National Credit Union Administration)

How many branches are in the State? Sound Credit Union has more than 5,000 shared branching locations and 30,000 surcharge-free ATMs nationwide.

Pros:

  • Flexible spending accounts
  • Low monthly service fees
  • Has free ATMs nationwide
  • Branches throughout Washington
  • Good APY for share certificates

Cons

  • No shared branching
  • Requirements for Membership

Sound Credit Union is headquartered in Tacoma and is certainly one of the best banks in Washing. It is also the 156th largest credit union in the nation. It was established in 1940 and as of September of 2022, it had grown to 378 employees and 161,690 members at 27 locations. Sound Credit Union’s CD rates are 3X the national average, and it has an A health rating.

Sound provides authentic and trusted financial support and services with full-service branches around the Puget Sound. A Northwest original since 1940, they are one of Washington State’s largest credit unions, driven by the purpose of standing with members, employees and the community through all waves of life.

As a federally insured, not-for-profit, full-service financial institution, Sound Credit Union is dedicated to making doing business easy, quick and convenient by providing high-quality financial products and services in a welcoming environment where members are valued, making it one of the best banks in Washington when it comes to customer service.

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11) Harborstone Credit Union

Savings APY: 0.05% with minimum $5 + one-time $5 membership fee

CD APY: 12 months 3.82%, 24 Month 3.30%, and 60 Month – 3.14% with a minimum deposit of $500

Monthly Fees: $0

Federally Insured by: NCUA (National Credit Union Administration)

How many branches are in the State? Harborstone Credit Union has 15 branch locations in 13 cities across Washington.

Pros:

  • Sign-up bonus
  • No annual fee
  • Unlimited rewards

Cons

  • Short 0% APR period
  • Rewards have expiry

Harborstone began in 1955 as McChord Federal Credit Union, serving airmen on McChord Air Force Base who each owned one $5 share of the credit union. From modest beginnings, they have always existed for the betterment of the members and community.

Harborstone Credit Union has branch locations in King, Pierce, and Thurston counties and offers a wide variety of products and services. From its roots as McChord Credit Union (founded in 1955 on McChord Air Force Base) and Prevail Credit Union (founded in 1940 as King County Employees Credit Union), to its combined future as Harborstone Credit Union, the bank is committed to actively supporting events and causes that enhance the quality of life for our community.

Harborstone is committed to looking beyond its walls and is involved in several Chambers of Commerce to help promote community growth and involvement, making it one of the best banks in Washington for those who value community support.

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12) Washington State Employees Credit Union

Savings APY: 1.75% to 4.25% Minimum Deposit Amount $250

CD APY: 12 months 2.47%, 24 Month 1.98%, and 60 Month – 1.98% with a minimum deposit of $250

Monthly Fees: $5

Federally Insured by: NCUA (National Credit Union Administration)

How many branches are in the State? Washington State Employees Credit Union has 22 branches throughout Washington. It’s also part of the CO-OP Shared Branch and ATM networks, so customers have access to 5,000 shared branches and 30,000 surcharge-free ATMs nationwide.

Pros:

  • Certified as a community development financial institution and serves disadvantaged communities
  • Low or no minimum opening deposits on accounts
  • Rewards checking account that offers cash back
  •  Great interest rates on CDs

Cons

  • Membership limited only to residents of Washington
  • Mixed mobile app ratings
  • Low interest rate on savings account
  • Interest compounds monthly, not daily

Wrapping up our list of the best banks in Washington, Washington State Employees Credit Union is headquartered in Olympia and is the 4th largest credit union in the state of Washington. It is also the 71st largest credit union in the nation. It was established in 1957 and as of September of 2022, it had grown to 707 employees and 293,651 members at 22 locations.

Washington State Employees Credit Union’s CD rates are 3X the national average, and it has an A health rating. Washington State Employees Credit Union (WSECU) operates as a financial cooperative. The Union provides financial solutions such as loans, investment, savings, credit and debit cards, online banking, and other related services.

WSECU serves communities in the State of Washington and is federally insured by the NCUA. You can deposit up to $250,000 in an individual account and it will be safe.