Best Banks in Alaska
Written by
Rudri Patel
Edited by
Elizabeth Constantineau
Alaskans have plenty of banking options, whether you live in the city or a sparsely populated outlying area. National and regional financial institutions and community banks that support local residents’ unique needs all have a presence here. This guide to the best banks in Alaska reviews the top options for checking, savings and certificates of deposit (CDs).
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GOBankingRates' editorial team is committed to bringing you unbiased bank reviews and information. We use data-driven methodologies to evaluate financial products and services - our reviews and ratings are not influenced by advertisers. You can read more about our editorial guidelines and our in-depth bank review methodology.
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TOP ALASKA BANKS AT A GLANCE
Bank/Institution
Savings APY
Notable Features
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Detailed Reviews of the Best Banks in Alaska
Here are GOBankingRates’ top picks for Alaska’s best banks.
Gold Winner: First National Bank Alaska
First National Bank Alaska has a federal charter along with a 100-year history as an exclusively Alaskan bank. With branches and ATMs in over 15 communities throughout the state, First National is a financially stable bank offering a broad range of banking products, including six different checking accounts to help you manage your money at every stage of life.
Best For
Mobile App
Low Monthly Fees
Loan Options
Low Minimum Deposits
Credit Cards
Low- and No-Fee Checking and Savings
First National Bank Alaska has a well-rounded selection of deposit accounts, some of which have tiered interest rates that increase with your balance. ATM transactions are free with all checking accounts.
Total Branch Locations
Over 25
Mobile App Rating
4.7 on the Apple App Store and 4.6 on Google Play
Other Products Offered
Checking, savings, CDs, credit cards, home and personal loans
Pros
- Alaska bank with community focus
- Tiered interest rates
- Special checking account just for active duty, retired and reserve military personnel
- No fee basic savings
Cons
- Most accounts have fees
- APYs are low even at the highest tiers
- Small number of ATMs
Why We Like National Bank Alaska
National Bank Alaska has some of the best Alaska checking accounts in this roundup, including for teens, college students and past and present military personnel. With 28 branches, the bank has a strong presence in Alaska.
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Silver Winner: KeyBank
KeyBank is a regional bank with a presence in 15 states, which makes it the largest bank among Alaska’s best. Serving Anchorage, Fairbanks, Juneau and a handful of other cities, KeyBank offers feature-rich deposit accounts, including a high-yield money market account and CDs. KeyBank gets an A+ rating from the Better Business Bureau.
Best For
Mobile Banking
Low Monthly Fees
Personal Loans
Credit Cards
Interest Checking
Low-Fee Savings and No-Fee Checking Accounts
KeyBank stands out for its impressive selection of checking and savings accounts with benefits smaller banks rarely offer. Key Select checking customers enjoy a APY plus a $100 annual bonus with qualifying direct deposits.
Total Branch Locations
Over 1,000
Mobile App Rating
4.7 on the Apple App Store and 4.6 on Google Play
Other Products Offered
Checking, savings, CDs, credit cards, personal loans and lines of credit
Pros
- Comprehensive selection of accounts
- Bonus and rewards programs
- Low- and no-fee options
- Large network of ATMs
Cons
- High fees on some accounts
- Only one interest-bearing checking account
- Branch access is limited
- High overdraft fee
Why We Like KeyBank
KeyBank offers a well-rounded selection of checking and savings accounts with perks like automatic savings, early pay and overdraft forgiveness for overdrafts of $20 or less. Customer service for online and mobile banking is available by phone seven days per week, and you can make an appointment at your local branch to meet face-to-face with a representative.
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Bronze Winner: First Bank
First Bank is the smallest of the best banks in Alaska. It prioritizes community with strong personal and business lending programs in addition to a robust selection of deposit accounts to suit just about any need. First Bank is also highly transparent, which makes it easy to find the information you need as you research checking and savings accounts in Alaska or want help with a question or concern. Customer reviews on the bank’s Facebook page are overwhelmingly positive.
Best For
Mobile App
Credit Cards
Low Monthly Fees
Loan Options
Savings Accounts
Tiered Interest Rates on Checking and Savings
First Bank has the smallest footprint among Alaska’s best banks, but solid mobile and online banking features make it easy to bank regardless of where in Alaska you live. You have a choice between four checking accounts and six savings products, including money market, CDs and a bank IRA. In addition, First Bank offers mortgage loans as well as personal loans for autos, RVs, boats and land, and a personal line of credit.
Total Branch Locations
9
Mobile App Rating
4.7 on the Apple App Store and 4.3 on Google Play
Other Products Offered
Checking and savings accounts, CDs, bank IRAs
Pros
- Good variety of accounts
- Competitive, tiered interest rates
- Impressive selection of loans
- Transparent website
- Excellent customer service
Cons
- Small number of branch locations
- Few account perks
- Must register in person for overdraft protection
Why We Like First Bank
First Bank is an Alaska best bank because of its focus on community. In addition to giving Alaskans the tools they need to manage their money and finance their homes and other major purchases, First Bank supports local businesses, nonprofit organizations and a long list of community activities and events.
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Best Banks
Checking Accounts
Savings Accounts
CD Account Rates
Money Market Accounts
Research Methodology
To discover the Best Banks by state, GOBankingRates analyzed the top institutions (excluding online banks and neobanks) by state branch locations. To determine rankings, GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC; (2) checking product minimum deposit; (3) monthly checking fee ratio (percentage of the minimum to avoid fees compared to the monthly fee itself); (4) savings product minimum deposit; (5) savings product APY; (6) Bauer rating (out of 5 stars); (7) products/services offered (auto loans, mortgage loans, credit cards, investment services and insurance); and (8) the average mobile app rating between the Google Play (Android) and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1), (2) and (4) were weighed 0.5 times, factor (5) was weighed 2.5 times and factor (7) was weighed 1.5 times. All products and offerings had to be available as of Nov. 8, 2024, to be considered.
Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of July 30, 2025.
To qualify as one of the Best Banks in the state, the institution needed at least five branch locations in the respective state, with some exceptions for larger and/or smaller states.
How To Choose the Right Bank in Alaska
Here are some factors to keep in mind as you research banks and credit unions in Alaska:
- Local vs. regional: Local banks have a larger stake in the community, but they often lack the resources to provide the perks offered by larger banks.
- Accounts: Be sure any Alaska bank you’re considering has accounts that work with how you manage your finances. For example, if you maintain a low checking account balance, look for an account with no minimums, to avoid fees.
- Availability: Check branch locations and operating hours if banking in person is important to you.
- Digital banking: Your bank’s online and mobile platforms should give you complete control over your accounts and make it easy to contact customer service.
- Rewards and promotions: Many Alaska banks and credit unions offer perks and bonuses to entice new account holders. These can add value to your accounts.
- Community involvement: Banks that support their communities benefit everyone.
Conclusion
The best Alaska bank for you is the one that checks the most boxes for the factors that are most important to you. Weigh the features, benefits and disadvantages of the accounts listed above against your banking wish list, then apply to open an account at your top pick today.
FAQs About Banking in Alaska
Here’s more information to help you find the best Alaska bank for your needs.- What is the best bank for high-yield savings in Alaska?
- Of the banks listed above, First Bank has the overall best rates on checking and savings accounts, but KeyBank has highly competitive CD rates.
- Which banks have the most ATMs in Alaska?
- Of the banks listed above, KeyBank has the largest ATM network.
- Are there any banks in Alaska with no monthly fees?
- GOBankingRates has not identified an Alaska bank with no fees, but all of the banks in this roundup have some accounts with no monthly maintenance fees.
More Resources for Banking
Best Banks
Checking Accounts
Savings Accounts
CD Account Rates
Money Market Accounts
Daria Uhlig contributed to the reporting for this article.
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