Banks and banking technology are in a constant state of evolution.

Whether you’re opening a high-yield savings account at a bank because it offers a yield that’s outpacing inflation, or joining a bank that has a highly-rated app, it’s important to keep up with the latest banking trends as well as having an account that helps you optimize your banking experience. 

Here is Bankrate’s list of the best banks and credit unions for 2024.

Best banks and credit unions

The best banks and credit unions on our list typically have no minimum balance requirements and they don’t have a monthly service fee. They also tend to have great technology and offer customer’s high-yield savings accounts or CDs with competitive yields.

Ally Bank

Ally Bank offers a wide variety of bank and deposit accounts including savings, money market and checking accounts, certificates of deposit (CDs), a no-penalty CD and a bump-up CD. The bank is also in the Allpoint ATM network, so Ally customers can access more than 43,000 in-network ATMs. 

Why we chose it

  • Ally consistently offers competitive yields on its deposit products.
  • Ally offers nearly every banking product a consumer could need. 

Capital One

Capital One is both an online and brick-and-mortar bank, depending on where you live. It also has Capital One Cafés throughout the country, Capital One was the ninth largest bank as of Dec. 31, based on consolidated assets, according to the Federal Reserve.

Why we chose it

  • Capital One offers competitive yields on its deposit products. 
  • Capital One is a well-known brand that has nearly 300 branches, including Capital One Café’s, and access to more than 70,000 fee-free ATMs across the country.


Formerly TIAA Bank, EverBank has nearly every type of bank account to meet your personal finance needs. Although EverBank is known as an online bank, it also has a few branches in Florida. 

Why we chose it

  • EverBank, formerly TIAA Bank, offers a wide variety of deposit accounts.
  • The EverBank checking account offers reimbursement on out-of-network ATM fees.

Chase Bank

This banking unit of financial giant JPMorgan Chase is the largest bank in the U.S., based on consolidated assets as of Dec. 31, 2023, according to the Federal Reserve. Chase has more than 4,700 branches in all 48 contiguous states and more than 15,000 ATMs. Its deposit products, however, generally have low yields.

Why we chose it

  • Chase offers a highly-rated app. 
  • Chase has branch locations in all of the contiguous 48 states.

Alliant Credit Union 

Alliant Credit Union has more than 800,000 members and offers savings accounts, checking accounts and CDs. It’s also easy for nearly anyone to become a member of this online-only credit union, which offers competitive yields.

Why we chose it

  • Alliant Credit Union offers easy ways for nearly anyone to join. 
  • Alliant Credit Union offers competitive yields on its deposit accounts.

Discover Bank

Discover Bank is an online-only bank that offers nearly every type of bank account and 12 terms of CDs. The bank is also known for its credit cards and for its payment network. Discover Bank customers with a checking account or money market account can access their money at more than 60,000 fee-free ATMs.

Why we chose it

  • Discover Bank has one of the largest variety of CD terms available, from 3 months to 10 years.
  • Discover Bank offers a checking account that earns cash back on debit card purchases. 

First Internet Bank of Indiana

First Internet Bank of Indiana made banking history in 1999 as the first state chartered Federal Deposit Insurance Corp. (FDIC) bank to operate purely online. First Internet Bank offers a checking account, a savings account, a money market account and CDs.

Why we chose it

  • First Internet Bank offers nearly every deposit product for your personal finance needs.
  • This is the first FDIC-insured online-only bank, offering competitive yields on personal and business bank accounts.
  • The bank’s app is very highly rated on iOS.

Quontic Bank

Quontic Bank is a digital bank that offers checking, savings and money market accounts as well as CDs, all online. Originally a New York City-based community banks, today it offers competitive yields on its deposit products.

Why we chose it

  • Quontic Bank takes an innovative tech approach to banking, including offering wearable tech. It offers a Pay Ring that you can wear on your finger to make purchases and is accepted wherever you see the Contactless Symbol.
  • Quontic Bank customers earn 1 percent cash back on all of their eligible debit card purchases, up to $50 for each statement cycle, with the cash rewards checking account. 

Credit unions vs. banks

Credit unions are not-for-profit organizations and they tend to offer deposit products and lending options. Credit unions typically have membership requirements to join, often based on such factors as where you live, work or organization you’re affiliated with. 

For banks, which are for-profit financial institutions, opening an account is generally as easy as walking in a branch to apply, or online, using your personal information. Unlike credit unions, banks are generally corporations with a goal of making a profit for its shareholders.

Bottom line

Over time, banking options evolve, enhancing the products, services and overall experience for the banking customer. Because of new services, products and options available, it’s worth taking time to re-evaluate your bank to ensure it’s providing you with products that offer a competitive yield, a highly-rated app or customer service that meets your personal finance needs.