GOBankingRates ranked the best banks of 2015, with Minneapolis-based U.S. Bank coming in at No. 10. The bank follows through on its motto of “all of us serving you” by focusing on providing comprehensive customer service and product offerings.
U.S. Bank offers checking and savings accounts, credit cards, prepaid cards, mortgages, auto loans, investment services and more. With 3,239 branches throughout the U.S. and online and mobile banking tools, customers can easily access all of their banking needs anytime, anywhere. U.S. Bank also has received a BauerFinancial Star Rating of 4, making it a great choice for those based in Minneapolis and throughout the country.
From Your First Bank Account to Retirement
U.S. Bank’s services run the gamut. The bank offers two accounts for minors that are designed to help young people learn the basics of managing their finances. Its Student Checking and Star Savers Club Accounts can be opened with just $25. Designed for people age 17 or younger, the Star Savers Club Account also has zero monthly maintenance fees. To further help depositors, the bank offers its Financial Genius program, which features financial literacy tips and tools.
U.S. Bank’s checking and savings accounts for adults cover every age range and financial circumstance. Whether you’re just getting started or have a large balance and whether you want to combine your accounts or choose one with specific perks, the bank has an account that caters to your needs. In addition to checking and savings accounts, U.S. Bank offers competitive rates on credit cards and certificates of deposits (CDs). One-year CDs have 0.10% APY for amounts ranging from $500 to $249,999. The U.S. Bank Visa Platinum Card’s rates currently start at just 9.99% APR.
Home and Auto Loans
U.S. Bank offers a variety of home loans including conventional fixed-rate mortgages, adjustable-rate mortgages, VA mortgages and jumbo mortgages with various term lengths. The bank’s auto loans feature competitive rates starting at just 2.49% APR for any new vehicle purchase or refinance.
U.S. Bank knows that no two people have the exact same insurance needs, which is why the bank offers personalized insurance strategies to help you protect what matters most to you. The options, provided by U.S. Bancorp Investments, Inc., include term insurance, whole life insurance, universal life insurance, variable universal life insurance and more.
U.S. Bank and its affiliate, U.S. Bancorp Investments, Inc., offer a variety of investment products and wealth management services. Dedicated advisors are available by phone and in person to help you achieve your financial goals. As the fifth-largest commercial bank in the country, U.S. Bank, along with U.S. Bancorp Investments, is a trusted source for retirement planning, education funding planning and other banking products and services designed to help people achieve long-term goals.
Institution selection: In order to determine its “Best Bank” rankings, GOBankingRates examined the top 100 banks by asset size according to the FDIC, excluding non-active institutions, those with less than $1 billion in assets, investment banks and any institutions that require customers to use investment services to access commercial bank accounts.
Criteria for rankings: Banks were scored from most to least favorable in the following categories: (1) BauerFinancial Star Ratings for overall financial strength, and the rankings previously assigned through our survey of (2) checking accounts, (3) savings accounts, and (4) one-year certificates of deposit. Each criterion was individually scored from most to least favorable in comparison to the category average (weighted equally). Banks were then scored according to whether they offered each of the following services, all of which contributed to a single weighting: (5) auto loans, (6) mortgage loans, (7) credit cards, (8) investment services and (9) insurance services. The final criteria was the (10) number of bank branches, as reported by the FDIC. Banks were then ranked according to overall score. Data was compiled via the GOBankingRates interest rate database and verified against the individual institutions’ websites.
Photo credit: Sharon Mollerus