Best Banks and Credit Unions in Georgia of October 2023
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We selected Capital One 360, Regions Bank, Delta Community Credit Union, and Credit Union of Atlanta as the best banks and credit unions in Georgia.
These banks also stand out because they have low bank fees and strong features. Learn more about our top picks below.
To determine the best banks in Georgia, we reviewed the 10 biggest banks and credit unions in the state, as well as local financial institutions that are recognized as minority depository institutions by the FDIC or NCUA. We also considered online banks regarding our top pick for savings accounts.
The Best Banks and Credit Unions in Georgia
All of the financial institutions on our list are protected by FDIC or NCUA insurance. Although First Republic Bank was recently shut down, bear in mind your money is safe at a federally insured financial institution. When a financial institution is federally insured, up to $250,000 per depositor is secure in a bank account.
Compare Today’s Savings Rates
Compare the Best Financial Institutions in Georgia
Best bank for opening a savings account
Capital One 360 Performance Savings
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 4.5/5 Icon of check mark inside a promo stamp It indicates a confirmed selection. Perks
Fees
no monthly service fee
Annual Percentage Yield (APY)
4.30% (as of 7/21/23)
Minimum Deposit Amount
$0
Pros Check mark icon A check mark. It indicates a confirmation of your intended interaction. Competitive APY Check mark icon A check mark. It indicates a confirmation of your intended interaction. No opening deposit or minimum account balance Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fee Check mark icon A check mark. It indicates a confirmation of your intended interaction. Easy to save for various goals Check mark icon A check mark. It indicates a confirmation of your intended interaction. 24/7 live chat Cons con icon Two crossed lines that form an ‘X’. Limited access to customer service by phone Product Details Over 280 branches in NY, LA, TX, MD, VA, NJ, and Washington, DC Interest compounded daily, paid monthly FDIC insured
Best bank for opening a checking account
Regions Bank LifeGreen® Checking Account
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.5/5
Fees
$8 or $11 monthly service fee
Annual Percentage Yield (APY)
None
Minimum Deposit Amount
$50
Pros Check mark icon A check mark. It indicates a confirmation of your intended interaction. Free overdraft protection available Check mark icon A check mark. It indicates a confirmation of your intended interaction. Receive qualifying direct deposits up to 2 days early Check mark icon A check mark. It indicates a confirmation of your intended interaction. Possible to waive monthly service fee Cons con icon Two crossed lines that form an ‘X’. $50 minimum opening deposit con icon Two crossed lines that form an ‘X’. $11 or $8 monthly service fee con icon Two crossed lines that form an ‘X’. $3 out-of-network ATM fee con icon Two crossed lines that form an ‘X’. $36 overdraft fee Product Details 1,300 branch locations in 15 states 2,000 free ATMs $11 monthly service fee with paper statements, $8 monthly service fee with online statements To avoid the monthly service fee, keep at least $1,500 in your account monthly, make a $500 single direct deposit, OR a $1,000 combined direct deposit Free overdraft protection lets you link your checking account to a savings account FDIC insured
Best local financial institution
Credit Union of Atlanta Share Savings Account
Insider’s Rating A five pointed star A five pointed star A five pointed star A five pointed star A five pointed star 3.75/5
Fees
no monthly service fee
Annual Percentage Yield (APY)
0.05%
Minimum Deposit Amount
$25
Pros Check mark icon A check mark. It indicates a confirmation of your intended interaction. No monthly service fees Check mark icon A check mark. It indicates a confirmation of your intended interaction. $25 minimum opening deposit Cons con icon Two crossed lines that form an ‘X’. Low APY con icon Two crossed lines that form an ‘X’. No dividends earned on balances under $100 con icon Two crossed lines that form an ‘X’. Only compounds dividends quarterly Product Details Minority-led credit union in Atlanta 5,000 shared branches around the US Membership eligibility: Work for one of many partner employers, including local government and religious organizations Must open Share Savings Account to become a member Dividends compounded quarterly, paid quarterly Federally insured by the NCUA Best Financial Institutions in Georgia: Frequently Asked Questions
The No. 1 bank in Georgia depends on what you’re looking for. If you prioritize a traditional brick-and-mortar banking experience, you might look at the institutions mentioned in our savings rates list. If your goals are high savings rates and low fees, then you’ll probably want to go with an online bank. (See our picks for the best online banks here.)
Truist Bank, Wells Fargo, and Bank of America have the most branches in Georgia.
The safest bank in Georgia will be insured by the Federal Deposit Insurance Corporation (FDIC) or the National Credit Union Administration (NCUA). As long as the institution has federal insurance, your money should be safe. Up to $250,000 is protected per owner in federally insured bank accounts.
Georgia Bank ReviewsBest Bank for Opening a Savings Account
Capital One 360
Capital One 360 is featured in our best online banks guide because its bank accounts do not require a minimum opening deposit or charge monthly service. In comparison, the biggest brick-and-mortar banks in Georgia pay low interest rates on savings accounts, so we chose an online high-yield savings account as out top pick in this category.
Capital One 360 Performance Savings stands out because it pays a competitive interest rate higher than what many traditional savings account and high-yield savings accounts offer right now.
What to look out for: Capital One has branches throughout the US, but it doesn’t have any in Georgia. There’s a Capital One Cafe in Atlanta, where you can use self-service ATMs or speak with a Cafe Ambassador, but it doesn’t offer the same services as branches. Ultimately, you’ll have to be comfortable with online banking if you plan to use this account.
Best Bank for Opening a Checking Account
Regions Bank
Regions Bank is a solid option if you prefer traditional banking to online banking. It’s featured as our best national bank in the Southeast in our best national banks guide, and it has a variety of bank accounts to choose from.
The Regions Bank LifeGreen® Checking Account has a monthly service fee, but you can waive the fee if you keep at least $1,500 in your account monthly, make a $500 single direct deposit, or have $1,000 combined in direct deposits.
What to look out for: Regions Bank has a $36 overdraft fee, but it eliminated overdraft protection transfer fees. This means if you transfer money from a linked bank account to cover an overdraft, you won’t have to pay a fee.
Best Credit Union
Delta Community Credit Union
You might like Delta Community Credit Union if you want to use a credit union instead of a bank. The credit union has 29 branches in the Metro Atlanta area, and it’s part of the CO-OP Shared Branch Network, which means you have access to 5,000 shared branches throughout the US.
Delta Community Credit Union has solid free checking and savings accounts with low minimum opening deposits. If you have the Delta Community Credit Union Personal Checking Account, you may enroll in a rewards program, where you’ll earn points on debit card purchases. You can use points on categories like cash back, travel, gift cards, concerts, and more. The credit union also has notable CDs with solid interest rates.
What to look out for: Delta Community Credit Union lets you become a member if you or a family member meet one of the following requirements:
You live or work in select Georgia countiesYou are a current or former employee of one of the businesses on this listYou are a member of select associations You are a full-time employee of Delta Air Lines who is a non-US citizen living in the Bahamas, Canada, Puerto Rico, or the US Virgin Islands
If you are a full-time employee of Delta Air Lines who is a non-US Citizen and living in certain foreign countries, you are eligible to open only a savings account.
Delta Community Credit Union members will need to open the Delta Community Credit Union Personal Savings Account.
Best Local Financial Institution
Credit Union of Atlanta
The Credit Union of Atlanta is an excellent choice if you like banking with local financial institutions instead of national banks,
Credit Union of Atlanta is certified as a minority depository institution (MDI) by the National Credit Union Administration and a community development financial institution (CDFI) by the US Department of Treasury’s Community Development Financial Institutions Fund.
Credit Union of Atlanta has two branches in Atlanta, and it’s part of the CO-OP Shared Branch network, which has around 5,000 shared branches around the US. It has free checking and savings accounts with low minimum opening deposits.
What to look out for: To open an account at Credit Union of Atlanta, you must be eligible for membership. Credit Union of Atlanta membership is limited to employees of certain organizations, such as the city of Atlanta, Zoo Atlanta, and Atlanta public schools. You may find the full list of organizations here.
All members will also need to open the Credit Union of Atlanta Share Savings Account with $25.
Other Institutions That Didn’t Make Our List and WhySynovus Bank: Synovus Bank no longer offers a free checking account. The Regions LifeGreen Checking Account may be easier to waive the monthly service fee.Truist Bank: Truist Bank has the most branches in the state, but its checking account with paper checks has a higher monthly service fee than Regions.Wells Fargo: Wells Fargo has a substantial branch and ATM network in Georgia, but our top picks have more appealing bank accounts with lower monthly services. It’s also received a poor rating from the Better Business Bureau and has been involved in several public settlements.Bank of America: Bank of America has a large branch and ATM network. However, its monthly service fees are a bit higher than our top picks. Chase: Chase has a variety of accounts and a large branch and ATM network. But our top picks have lower monthly service fees.Bank OZK: Bank OZK has a variety of accounts, but our top picks have more robust branch and ATM networks.United Community Bank: United Community Bank has a sizable branch and ATM presence in the state, but its checking and savings accounts have monthly service fees unless you meet certain requirements. PNC Bank: PNC Bank has a sizable branch and ATM network, but Regions has more locations in the state. Bridgeway Credit Union: This credit union is recognized as an MDI by the NCUA, and it may be a good option if you’re searching for a free checking account. It only has three branches in Georgia, though.Carver State Bank: This Black-owned bank pays solid CD rates, but you’ll need to keep a certain amount in savings and checking accounts each month to waive monthly service fees.Citizens Trust Bank: This Black-owned bank has a variety of checking accounts to choose from, but you’ll need to meet certain requirements to waive monthly service fees on checking and savings accounts.Unity National Bank: This Black-owned bank has a several checking accounts to choose from, but it only has one branch in the state.Fifth Third Bank: Fifth Third Bank is a regional bank with a few branches in Georgia. It has a solid free checking account, but its savings account isn’t as strong.First Citizens Bank: First Citizens Bank has free checking and savings accounts, but it doesn’t have as many branches in the state as other regional or national banks mentioned on our list.Robins Financial Credit Union: Robins Financial Credit Union has a free checking account, but our top credit union has lower minimum opening deposits.Bank Trustworthiness and BBB Ratings
We use ratings from the Better Business Bureau to help show how financial institutions address customer issues and handle transparency.
Keep in mind a good BBB rating doesn’t necessarily guarantee a smooth relationship with a financial institution. You may want to talk to current customers or read online customer reviews to see if a particular bank is right for you.
All the financial institutions on our list have an A+ rating from the BBB except Regions Bank and Credit Union of Atlanta.
Regions bank received an A- rating from the BBB because of government action taken against the bank. Credit Union of Atlanta has a B- rating because it hasn’t responded to one customer complaint.
Capital One and Regions Bank have both been involved in recent public controversies.
In 2020, the Office of the Comptroller of Currency required Capital One to pay $80 million in a settlement that said the bank was partially responsible for a 2019 data breach when a hacker accessed over 100 million credit card applications.
In 2022, the Consumer Financial Protection Bureau required Regions Bank to pay a total of $191 million in a settlement that accused the bank of charging customers surprise overdraft fees after some ATM withdrawals or debit card purchases.
Why You Should Trust Us: Experts’ Advice on Choosing the Best Financial Institution
We consulted banking and financial planning experts to inform these picks and provide their advice on finding the best financial institution in Georgia for your needs.
Insider
A bank might be the right fit for you if it aligns with your priorities, says Sophia Acevedo, certified educator in personal finance, banking reporter, Personal Finance Insider. If you can waive monthly service fees and earn the interest you want, that’s a good sign the institution could work out.
You probably want to stick with your bank once you pick one, and Tania Brown, certified financial planner at SaverLife, says that means anticipating how your needs might change later in life. Does the bank have services you might want, like financial advisors?
It’s also important that the bank is accessible, says Mykail James, CFEI. Maybe that means the ability to walk into branches; maybe that means the freedom to use your account while traveling. Roger Ma, certified financial planner with lifelaidout® and author of “Work Your Money, Not Your Life”, also highlights the importance of accessibility, in terms of how difficult it is to get money in and out of your account, and to connect that account to any others you might have elsewhere.
Methodology: How Did We Choose the Best Banks in Georgia?
Personal Finance Insider’s mission is to help smart people make the best decisions with their money. We understand that “best” is often subjective, so under each section, we outline the advantages and limitations of each account or institution. We spent hours comparing and contrasting the features and fine print of various products so you don’t have to.
We reviewed the 10 biggest banks and credit unions in the state, plus any financial institutions featured in our guides on Black-owned banks and credit unions and Hispanic American-owned banks and credit unions.
We compared bank account features and fees until we narrowed down our top picks. Our top picks stood out from other financial institutions for many reasons. Some offered a competitive interest rate on a savings account or had bank accounts with minimal bank fees.
For our best credit union and the best local bank, we selected financial institutions with easy membership requirements, low minimum opening deposits, and unique bank accounts.
See our full ratings methodology for checking, business checking, savings, and money market accounts »
Evelyn He
Compliance Associate
Evelyn He is a compliance associate at Insider who supports the Personal Finance Insider team. Personal Finance Insider is Insider’s personal finance section that incorporates affiliate and commerce partnerships into the news, insights, and advice about money that Insider readers already know and love. The compliance team’s mission is to provide readers with stories that are fact-checked and current, so they can make informed financial decisions. The team also works to minimize risk for partners by making sure language is clear, precise, and fully compliant with regulatory and partner marketing guidelines that align with the editorial team. Before joining Insider, she served in various legal and compliance roles in different industries, including the legal and pharmaceutical industries. Evelyn obtained her M.S. degree in Marketing at Boston University in 2022. Prior to combining and consolidating her knowledge of law and business, she spent one year finishing 1L courses at Suffolk University Law School to further her legal knowledge. She has also completed MBA business law courses while working on her Bachelor of Business Administration in Management at the University of Massachusetts, Amherst. Outside of work, she enjoys spending time with her 14-year-old Shih Tzu named Money, and her 5-year-old Bichon named Tibber.
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