Best Banks and Credit Unions in West Virginia
Choosing a new bank is an important decision, but that doesn’t mean it has to be a difficult one. This is our list of the best banks in West Virginia.
Find the best CD rates in West Virginia here.
1. Chase
Savings APY: 0.01% to 0.05%
CD APY: 1-year – 0.01%, 3-year – 0.01%, and 5-year – 0.01% with a minimum deposit of $1,000.
Monthly Fees: $12 for a checking account, which can be waived with a direct deposit of $1500. $5 for a savings account which can be waived by keeping a balance of $300 daily or transferring $25 from a linked Chase checking account.
Insured by: FDIC (Federal Deposit Insurance Corporation)
How many branches are in the State? Chase bank has around 20 branches in West Virginia if you don’t want to go for banking transactions, you can also use its mobile app to do the banking.
Featured Product Offerings: It offers very single service a big bank would offer its member. However, the featured product of Chase bank is definitely the Chase Total Checking, it is a full-featured account and you can get the monthly fee waived in many different ways!
Pros:
- Waivable monthly fees
- Branches and ATMs all over the country
Cons
- Low savings and CD APY.
- $3 fee at non-Chase ATMs in the U.S for basic checking accounts.
First on our list of the best banks in West Virginia, Chase is the largest bank in California with US $4 trillion in assets. The bank offers a variety of banking products and services and is present in around 100 countries all over the world.
Chase was founded in 1799. It is one of the oldest banks in the United States and it has been serving customers for over 223 years now. It was originally called the Manhattan Company and it was created by Aaron Burr, who served as its first president, and Samuel Tilden, who served as its first treasurer.
The company got its current name from an earlier merger with J.P Morgan & Co., which took place in 2000. It merged with Chemical Bank to form JPMorgan Chase & Co., which is still its legal name today.
It is also the largest U.S. credit card issuer by purchase volume and offers services like Amazon Prime Rewards Visa Signature Card (credit card), Chase Freedom Unlimited (credit card), etc.
Chase is the best bank for the people, who can keep their account balance high, aren’t looking for high-interest rates, and are in need of a bank with more branches all over the world and the US!
2. PNC
Savings APY: 0.01% to 0.03%
CD APY: 1-year – 0.02%, 3-year – 0.02%, and 5-year – 0.02% with a minimum deposit of $1,000.
Monthly Fees: $7
Insured by: FDIC (Federal Deposit Insurance Corporation)
How many branches are in the State? The PNC bank has in total 2,629 branches and 9,523 ATMs and is present in around 27 states.
Pros:
- Different customer service options available.
- Many branches and ATMs.
- Online money management options.
Cons
- Rates differ from area to area.
- Overdraft fees are expensive.
Another one of the best banks in West Virginia, PNC Bank is headquartered in Pittsburgh, Pennsylvania, and employs nearly 60 thousand people. It was founded on April 10, 1845, and currently has total assets of US $557 billion.
PNC Bank is a financial institution that provides banking, investing, and other financial services to individuals, small businesses, and commercial clients. PNC Bank offers a variety of checking accounts, savings accounts, certificates of deposit (CDs), and money market accounts.
PNC Bank has been operating for more than 170 years and it has been ranked as one of the best banks in the United States. It provides services to all 50 US states, as well as to international customers.
3. M&T Bank
Savings APY: 0.01%
CD APY: 12 Month Promo – 2.75%, 18 Month Promo – 3.00%, 12 Month Select Promo – 3.25%, and 18 Month Select Promo – 3.50% with a minimum deposit of $1000.
Monthly Fees: $0
Insured by: FDIC (Federal Deposit Insurance Corporation)
How many branches are in the State? The M&T banks have more than 750 branches and over 1800 ATMs for its customer to access banking services more easily.
Featured Product Offerings: The M&T bank provides free checking accounts, savings accounts, CDs, mortgages, loans, investments, and much more.
Pros:
- No monthly fees
- Access to 1800 surcharge-free ATMs
Cons
- Low interest rates
The M&T bank has a history of 166 years, dating back to 1856, and is headquartered in Buffalo, New York. it is one of the best regional banks in NY. If you are someone who is looking for easy ATM access and free checking account, M&T bank is one of the best in West Virginia. It has assets valued at over US $155.12 billion and has served more than 710,000 members.
4. FifthThird Bank
Savings APY: 0.01%
CD APY: 0.01% for standard CD and 3.50% for featured CD
Monthly Fees: $5 on savings accounts; up to $25 on checking accounts
Insured by: FDIC (Federal Deposit Insurance Corporation)
How many branches are in the State? Fifth Third Bank has a presence in 1100 full-service locations across 11 states in the United States.There is not any branches in West Virginia.
Pros:
- Fee-free ATMs available across the country
- 24/7 online banking and mobile app available
- Higher APYs on featured CD accounts
- Identity theft protection solutions available
- Waivable monthly fee
- No minimum deposit amount is required to open a savings or checking account
Cons
- Need to fulfill several criteria to have the monthly fee waived off
Fifth Third Bank is headquartered in Ohio, offering a robust selection of banking products, including savings and checking accounts, insurance, loans, commercial banking, investments, and more.
It also offers comprehensive services such as online & mobile banking, foreign currency exchange, overdraft solutions, and check facilities. The bank also provides a wide range of options in checking and savings accounts.
Holding multiple accounts with Fifth Third can also help you enjoy higher interest rates. It is one of the few banks in the United States to have a charitable institution.
5. Bayer Heritage Federal Credit Union
Savings APY: 0.10% to 0.25%
CD APY: 1-year – 4.59%, 2-year – 2.53%, and 5-year – 3.30% with a minimum deposit of $500.
Monthly Fees: $0
Federally Insured by: NCUA (National Credit Union Administration)
How many branches are in the State? The Bayer Heritage Federal Credit Union has 13 branches in the state.
Featured Product Offerings: It has all new checking account with many rewards and benefits for its members. Another featured product of BHFCU is online certificate accounts for short term with impressive interest rates.
Pros:
- No monthly fees
- Best rates on CD
Cons
- Limited branches in the state
Bayer Heritage Federal Credit Union is a credit union that has been serving the people of West Virginia for over 65 years. It was founded in 1957 and today, it has grown to serve more than 40,000 members and offers a range of services from car loans to investment services. It has assets valued at over $685.12 million.
6. First Choice America Community Federal Credit Union
Savings APY: 0.08% to 0.15%
CD APY: 1-year – 0.50%, 2-year – 0.55%, and 5-year – 0.70% with a minimum deposit of $500.
Monthly Fees: $0
Federally Insured by: NCUA (National Credit Union Administration)
How many branches are in the State? The First Choice America Community Federal Credit Union has 8 branches in the state.
Featured Product Offerings: The credit union offers different types of savings and checking account to its members for better financial planning.
Pros:
- No monthly fees
- Provides mobile banking
Cons
- Low interest rates
The credit union has been in operation since 1939 and has grown to be the largest credit union in West Virginia with assets valued at over $592.3 million. It offers a wide range of services to its members, from checking and savings accounts, loans and mortgages, to insurance services.
There are many reasons why First Choice America Community Federal Credit Union is one of the best banks in West Virginia. They offer a lot of great services to their customers, such as free checking, free savings account, and free ATMs.
7. Fairmont Federal Credit Union
Savings APY: 0.05% to 5.00%
CD APY: 2-year – 2.50%, 4-year – 2.75%, and 5-year – 3.00% with a minimum deposit of $1500.
Monthly Fees: $0
Federally Insured by: NCUA (National Credit Union Administration)
How many branches are in the State? The Fairmont Federal Credit Union has 9 branches in the state and multiple ATMs to do the banking transactions.
Featured Product Offerings: It offers youth savings account with the APY of 5.00% and no minimum balance or deposit.
Pros:
- No monthly fees
- Impressive APY on both savings and CD
Cons
- Very few brick-and-mortar branches
Wrapping up our list of the best banks in West Virginia, Fairmont Federal Credit Union is a credit union in that has been providing financial services to its members since November 1939. It is one of the largest credit unions in the state and has more than $493.1 million in assets and around 39,230 members.
The credit union offers various products and services to its members, including checking accounts, savings accounts, personal loans, mortgages, home equity loans and lines of credit.