Banking / Banks

The Best Regional Banks Throughout the Middle Atlantic

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The Middle Atlantic region of the United States includes New Jersey, Pennsylvania, the District of Columbia and New York — and therefore Wall Street — which makes this collection of states one of the biggest banking hubs in the entire world.

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For context, many of the banks that made it onto the top 10 lists for the country’s other eight regions are headquartered in the Middle Atlantic, as is the Bank of New York, the country’s oldest continuously operating financial institution. Even so, the region’s own top 10 list boasts some of the smallest institutions in the entire country, including one credit union with fewer than 10 branches and one with less than five.

GOBankingRates looked at checking fees, savings and 12-month CD APYs, and the number of branch locations to find the 10 best financial institutions of the Mid-Atlantic. The study also considered each bank’s total assets and other offerings, including car loans, insurance, mortgages, investment services and credit cards.

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Other factors were the availability of 24/7 customer service with a human live chat, and the ratings each institution holds in the Apple and Android stores.

Meet the 10 best banks and credit unions in the Middle Atlantic.

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JP Morgan Chase

Branch locations: 4,960
Checking fee: $12
Savings APY: 0.01%
12-month CD APY: 0.02%

Navy Federal Credit Union

Branch locations: 298
Checking fee: $0
Savings APY: 0.25%
12-month CD APY: 0.55%

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Bank of America

Branch locations: 4,215
Checking fee: $12
Savings APY: 0.01%
12-month CD APY: 0.03%

Wells Fargo

Branch locations: 5,024
Checking fee: $10
Savings APY: 0.01%
12-month CD APY: 0.01%

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American Airlines Credit Union

Branch locations: 38
Checking fee: $4.75
Savings APY: 0.40%
12-month CD APY: 0.50%

KeyBank

Branch locations: 1,046
Checking fee: $0
Savings APY: 0.01%
12-month CD APY: 0.05%

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Police and Fire Credit Union

Branch locations: 18
Checking fee: $0
Savings APY: 0.1%
12-month CD APY: 0.5%

United Nations Credit Union

Branch locations: 3
Checking fee: 0%
Savings APY: 0.075%
12-month CD APY: 0.2%

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Pennsylvania State Employees Credit Union

Branch locations: 8
Checking fee: $0
Savings APY: 0.05%
12-month CD APY: 0.45%

Hudson Valley Credit Union

Branch locations: 22
Checking fee: $0
Savings APY: 0.02%
12-month CD APY: 0.25%

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Methodology: To discover the Top 100 Best Banks, GOBankingRates looked at all institutions with available published data (National, Regional, Local, and Online) from the 2021 Best Banks categories as well as all Credit Unions with over $1 billion in total assets and accessible to a wide audience. GOBankingRates looked at the following factors: (1) total assets as sourced from the FDIC and NCUA; (2) number of branch locations as sourced from the FDIC and NCUA; (3) checking account annual fee; (4) savings account APY rate; (5) 12-month CD APY rate; (6) customer service products offered (24/7 customer service and live chat with a human); (7) Bauer rating (out of 5 stars); (8) products/services offered (auto loans, mortgage loans, credit cards, investment services, and insurance); and (9) the average mobile app rating between the android and apple stores. All factors were then scored and combined, with the lowest score being best. Factors (1) and (4) were weighted 1.5 times in final scoring, factor (2) was weighted 2 times, factor (6) was weighted 0.5 times, and factor (8) was weighted 2.5 times. For all Savings and Checking Account data only the basic accounts/products offered at each institution was analyzed. All data is up to date as of 12/8/21, rates and fees subject to change.

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Editorial Note: This content is not provided by any entity covered in this article. Any opinions, analyses, reviews, ratings or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by any entity named in this article.

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About the Author

Andrew Lisa has been writing professionally since 2001. An award-winning writer, Andrew was formerly one of the youngest nationally distributed columnists for the largest newspaper syndicate in the country, the Gannett News Service. He worked as the business section editor for amNewYork, the most widely distributed newspaper in Manhattan, and worked as a copy editor for TheStreet.com, a financial publication in the heart of Wall Street's investment community in New York City.

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