California is a large state, so the list of options when banking in the Golden State is also large. With so many options available, finding the right one can be difficult. But don’t worry. We did the research for you.
Whether you’re looking for a bank with easy branch access, great customer service, or the best yield, here’s our list of the best banks and credit unions in California.
Recommended banks and credit unions in California
Best Branch Access: Chase Bank
According to the Federal Deposit Insurance Corporation (FDIC), Chase Bank has more than 900 branches across the state, making it the most accessible branch in California. Wells Fargo, the second-largest bank in the state, doesn’t come close to Chase’s physical footprint in the Golden State.
And Chase isn’t just known for having a large branch network in California. The bank has the largest number of branches in the nation, boasting nearly 5,000 branches in every state except Hawaii (and Washington, DC). So whether you’re at home or traveling around the country, when you open an account with Chase, you’re likely to have access to Goliath’s services at the bank.
Chase Bank offers three types of deposit products: certificates of deposit (CDs), checking accounts, and savings accounts. We do not offer money market accounts. While each account comes with the latest digital banking bells and whistles, Chase typically doesn’t offer an annual percentage yield (APY) to help you grow your savings.
There are some solid CD options out there, but there are other banks that offer consistently high yields over the term. Similarly, the yield on that savings account is rock-bottom, so you might as well shop around. All of this said, easy access to thousands of branches and ATMs across the country, and top-of-the-line technology features make Chase a worthy choice. Especially if you’re considering a checking account that gives you easy access to your cash.
Best Online Bank: Quontic
If you don’t need to visit a physical branch and are comfortable banking online only, Quontic Bank is a good option for California residents.
Quontic offers any savings account you might be interested in, plus they offer very competitive interest rates on each product. In fact, Quontic won Best Money Market Account at the 2024 Bankrate Awards.
Its checking accounts also offer impressive yields that far exceed those offered by most banks with interest-bearing checking accounts. Depending on your account, there are some requirements that you must meet to earn the advertised yield, but fortunately, meeting them is not onerous.
As an online-only bank, Quontic has no physical branches, so customers interested in opening an account can bank online through Quontic’s website or through the bank’s highly rated mobile app, which is available for both iOS and Android users. There is no problem just using only. .
Best Credit Union: Patelco Credit Union
Patelco Credit Union is our choice as the best credit union in California.
Patelco membership is open to anyone who lives, works, worships or attends school in Northern California. It’s also available to anyone who works for one of the more than 1,100 companies Patelco serves nationwide. The credit union has more than 500,000 members across the United States and 36 branches, all located in California.
Patelco Credit Union offers a full range of savings accounts. Notably, credit unions offer a wide range of CDs and several savings and money market options. Some accounts have lower yields while others are more competitive. But you can generally find higher yields with lower balance requirements, especially with money market accounts.
Although Patelco has no branches outside of Northern California, members have access to more than 30,000 fee-free ATMs nationwide through the CO-OP network.
Best Customer Service: US Bank
Our choice for the bank with the best customer service is US Bank, ranked #1 in California in the 2024 U.S. Retail Banking Satisfaction Study by JD Power. Chase Bank came in a close second, a few points below the top pick.
This annual survey collects responses from more than 100,000 retail banking customers across different regions of the country, so it serves as an excellent barometer of customer satisfaction.
Headquartered in Cincinnati, Ohio, US Bank has more than 2,000 branches in 28 states. More than 450 of those locations are in California. The bank offers a full range of deposit products, including certificates of deposit, checking accounts, savings accounts, and money market accounts.
In addition to JD Power’s research, customers are highly satisfied with the bank’s digital experience through the bank’s mobile app, which has high ratings in both the Apple App Store and Google Play Store. A total of over 2 million users have rated the app across both platforms.
US Bank offers a good deal here and there when it comes to annual percentage yield (APY) on its deposit products, but there are generally other banks that offer similar or better yields even with lower account balances. However, if you want to consolidate your finances under one roof and have at least $25,000 stashed away in a savings or money market account, US Bank may be a good choice.
How to choose the bank that’s right for you
The best bank for you will depend on your financial goals and priorities. From traditional banks to online banks to credit unions, there are a variety of options. Here is a list of tips to consider when choosing a bank:
- Look for banks that have low or no common fees, especially monthly maintenance fees, ATM fees, and overdraft fees.
- When considering an account to store your savings, look for banks with competitive APYs.
- Consider the convenience of local branches and digital features like mobile banking and the ability to lock your debit card.
- Read the details to understand your chosen bank’s terms and conditions, including potential promotional deals and federal insurance coverage.
- Research bank reviews and consider managing accounts with multiple banks or credit unions for a more customized banking experience.
methodology
To choose the best banks in California, the Bankrate editorial team used existing bank reviews and other data sources, including FDIC branch information. When creating these bank reviews, we analyze each bank’s physical footprint and deposit accounts, including certificates of deposit (CDs), checking accounts, savings accounts, and money market accounts. When considering these accounts, we consider important factors such as account features and fees, digital experience, interest rates, and access to funds. We utilized these existing bank reviews, among other sources, in the process of selecting the best banks for branch access, customer service, local banks, and credit unions in Florida.
