California is a large state, and so are your list of options when it comes to banking in the Golden State. With so many options available, it can be tough to find the right fit. But don’t worry, we’ve done the research for you.
Whether you’re looking for easy access to a branch, great customer service or scouring banks for the best yields, here’s our list for the best banks and credit unions in California.
Our picks for best banks and credit unions in California
Best branch access: Chase Bank
Chase Bank is our pick for best branch access in California, as it has more than 900 branches scattered throughout the state, according to the Federal Deposit Insurance Corp. (FDIC). The bank with the second most branches in the state, Wells Fargo, doesn’t come close to matching Chase’s physical footprint in the Golden State.
And Chase isn’t known for just having a large branch network in California. It’s the bank with the most branches across the country, touting nearly 5,000 branches in every state (and Washington, D.C.) except Hawaii. So, whether you’re at home or traveling the country, opening an account at Chase means you’ll likely have access to the banking goliath’s services.
Chase bank offers three types of deposit products: certificates of deposit (CDs), checking and savings accounts; it doesn’t offer a money market account. While each account comes with the bells and whistles of modern digital banking, Chase generally doesn’t offer annual percentage yields (APYs) that will help grow your savings.
There are a couple of solid CD options, but consistently higher yields across terms can be found at other banks. Likewise, its savings account earns a rock-bottom yield, so you’re better off shopping around. All this noted, the accessibility to thousands of branches and ATMs across the country, alongside top tech features makes Chase a worthy option. Especially if you’re considering a checking account with easy access to your cash.
Best online bank: Quontic
If you don’t need access to physical branches and are comfortable with banking solely online, Quontic Bank is a good option for California residents.
Quontic offers any deposit account you may be interested in, and to boot, it offers highly competitive interest rates on each of those products. In fact, Quontic won best money market account in the 2024 Bankrate Awards.
Even its checking account earns a stellar yield, far beyond what most banks with interest-bearing checking accounts offer. Depending on the account, there are some requirements you must meet to earn the advertised yield, but the good news is that they aren’t cumbersome to meet.
As an online-only bank, Quontic doesn’t have physical branches, so customers interested in opening an account should be comfortable solely banking online via Quontic’s website or through the bank’s highly-rated mobile app, which is available for both iOS and Android users.
Best credit union: Patelco Credit Union
Patelco Credit Union is our pick for the best credit union in California.
Membership to Patelco is open to those who live, work, worship or go to school in northern California. It’s also open to those who work for one of more than 1,100 businesses that Patelco services throughout the country. The credit union has more than 500,000 members nationwide and 36 branches, all located in California.
Patelco Credit Union offers the full host of deposit accounts. Of note, the credit union offers a wide range of CDs and several savings and money market options. Depending on the account, some yields are low while others are competitive. But you can generally find higher yields for lower balance requirements — particularly on money market accounts — elsewhere.
Although Patelco doesn’t have branches outside of northern California, members get access to more than 30,000 fee-free ATMs nationwide through the CO-OP network.
Best customer service: U.S. Bank
Our pick for the bank with the best customer service is U.S. Bank, which ranked first in California in J.D. Power’s 2024 U.S. Retail Banking Satisfaction study. Chase bank was a close second, coming in a handful of points below the top pick.
The annual survey serves as a good barometer of customer satisfaction as it fields responses from more than 100,000 retail banking customers across different regions of the country.
Headquartered in Cincinnati, Ohio, U.S. Bank has more than 2,000 branches across 28 states. More than 450 of those locations are in California alone. The bank offers the full range of deposit products, offering certificates of deposit, checking, savings and money market accounts.
Along with the J.D. Power survey, customers indicate high satisfaction with the bank’s digital experience via the bank’s mobile app, which receives high marks on both the Apple App and Google Play stores. Collectively, more than 2 million users have rated the app across both platforms.
U.S. Bank has some good deals here and there when it comes to annual percentage yields (APYs) on its deposit products, but generally, equally or more competitive yields for lower account balances can be found elsewhere. However, if you’re looking to consolidate your finances under one roof and have at least $25,000 to stash in a savings or money market account, U.S. Bank may be a good choice for you.
How to choose the right bank for you
The right bank for you depends on your financial goals and priorities, with options ranging from traditional banks to online banks and credit unions. Here is a list of tips to consider when choosing a bank:
- Look for banks with low or no fees, especially for common charges like monthly maintenance fees, ATM fees and overdraft fees.
- When considering accounts to stash 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 fine print and understand the terms and conditions of your chosen bank, including potential promotional deals and federal insurance coverage.
- Research bank reviews and consider managing accounts at multiple banks or credit unions for a more tailored banking experience.
Methodology
To determine our picks for the best banks in California, the Bankrate editorial team utilized our existing bank reviews and other sources of data, including branch information from the FDIC. While writing these bank reviews, we analyze each bank’s physical footprint and deposit accounts, including certificates of deposit (CDs), checking, savings and money market accounts. In reviewing 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 for selecting the best banks for branch access, customer service, regional bank and credit union in Florida.
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