Best Banks and Credit Unions in Georgia of August 2024 (2024)

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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. We chose Capital One 360, Regions Bank, Delta Community Credit Union, and the Credit Union of Atlanta as our top picks.

These banks and credit unions also stand out because they have low bank fees and strong features. Learn more about our top picks below.

The Best Banks and Credit Unions in Georgia

• Capital One 360 Checking: Best bank for opening a savings account and best online checking account
• Regions Bank: Best bank for opening a checking account
• Delta Community Credit Union: Best credit union
• Credit Union of Atlanta: Best credit union, tied

All of the financial institutions on our list are protected by FDIC or NCUA insurance. 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.

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Best Financial Institutions in Georgia: FAQs

Georgia Bank Reviews

The best banks and credit unions in Georgia should offer strong interest rates, good banking perks, and ease of access to Georgian residents. It should also offer many different types of bank accounts, such as checking accounts, savings accounts, money market accounts, and CDs.

Here are the best banks and credit unions in Georgia as picked by Business Insider editors in 2024.

Best Bank for Opening a Savings Account

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 accountsoffer right now.

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 is a solid option if you prefer traditional banking to online banking.

The Regions Bank LifeGreen® Checking Account has a monthly bank maintenance fee, but you can waive the fee if you keep at least $1,500 in your account monthly, make a $500 singledirect deposit, or have $1,000 combined in direct deposits.

Regions Bank has a $36 overdraft fee, butit 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

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.

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 counties
• You are a current or former employee of one of the businesses on this list
• You 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 Credit Union, Tied

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 aminority 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 accountsand savings accounts with low minimum opening deposits.

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.

BankTrustworthinessandBBBRatings

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.

Regions bank received an A rating from the BBB because of government action taken against the bank.

Capital One and Regions Bank have both been involved in recent public controversies.

Capital One used to have an account called 360 Savings. In 2019, Capital One launched the new 360 Performance Savings Account, which paid a much higher interest rate. Many customers thought their old savings accounts would transition into this new one, but in reality, they had to open a new 360 Performance Savings Account to earn a higher rate. So some customers have been earning a significantly lower savings rate for years.

In the lawsuit, the plaintiffs' lawyers allege that Capital One didn't inform 360 Savings customers that these were two distinct accounts, or that 360 Performance Savings paid a higher rate. However,Capital One wants this case dismissedbecause it claims people had every opportunity to learn these facts on their own. This case is still ongoing.

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.

A bank might be the right fit for you if it aligns with your priorities, says Sophia Acevedo, certified educator in personal finance, banking editor, Business 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 and vice president of coaching strategy at OfColor, 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 withlifelaidout®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?

Business 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 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 »