The Best Regional Banks Throughout New England

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The banks of New England — some of the oldest and most significant financial institutions in America — are wedged into the northeasternmost states of the country, including Massachusetts, Connecticut, Rhode Island, Vermont, New Hampshire and Maine. The oldest banks in several New England states have a history dating back to the Founding Fathers of the 18th century.

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It’s a land of big banks, with very little room given to upstart financial institutions that are little and local. One credit union on the top 10 has fewer than 40 branches, but the rest have either hundreds or thousands of branches.

GOBankingRates sized up the top 10 financial institutions in New England by examining several factors, including whether they offer products and services like credit cards, home and auto loans, investment services and insurance. The most weight, however, was given to checking fees, savings and 12-month CD APYs and the number of branches each institution maintains. The study also looked at each bank’s total assets and the rating their apps hold in the Android and Apple stores.

Keep reading to learn about the 10 best banks in New England.

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JP Morgan Chase

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

Read more about this financial institution in our full review about it.

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Navy Federal Credit Union

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

Read more about this financial institution in our full review about it.

Bank of America

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

Read more about this financial institution in our full review about it.

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Wells Fargo

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

Read more about this financial institution in our full review about it.

American Airlines Credit Union

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

Read more about this financial institution in our full review about it.

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Keybank

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

Read more about this financial institution in our full review about it.

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Truist Bank

  • Branch locations: 2,562
  • Checking fee: $12
  • Savings APY: 0.01%
  • 12-month CD APY: 0.05%

Read more about this financial institution in our full review about it.

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PNC Bank

  • Branch locations: 2,150
  • Checking fee: $7
  • Savings APY: 0.01%
  • 12-month CD APY: 0.02%

Read more about this financial institution in our full review about it.

Valley National Bank

  • Branch locations: 234
  • Checking fee: $0
  • Savings APY: 0.02%
  • 12-month CD APY: 0.05%

Read more about this financial institution in our full review about it.

Manufacturers and Traders Trust Company

  • Branch locations: 749
  • Checking fee: $0
  • Savings APY: 0.01%
  • 12-month CD APY: 0.05%

Read more about this financial institution in our full review about it.

More From GOBankingRates

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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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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