Best Banks in Colorado

Looking at Aspen Colorado during the winter season.
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There are 72 FDIC-insured banks in Colorado with a nearly equal representation of credit unions. Most of the financial institutions in the state have branches to conveniently serve you wherever you may roam. Finding the best one for you can be overwhelming if you have to evaluate all the options available. This guide on thebest banks in Colorado narrows down the list to bring you the top choices in the state.

How These Banks In Colorado Made the List

To navigate the long list of possible banking options, GOBankingRates created a bank rating system based on branch availability, services, account options, fees, interest rates, market share, digital presence and more. The top-rated banks nationwide made the annual Top 100 Banks list. Finally, financial institutions with a presence in Colorado were selected from the top 100 to bring you the followingbest banks in Colorado.

8 Best Banks in Colorado

The following banks and credit unions made the list for market share and availability in Colorado.

Chase Bank

Why it stands out: Chase Bank tops the best-of list in many states due to its widespread branch availability, online presence and breadth of financial services. It's a one-stop shop for everything from car and home loans to wealth management and investing. The more you bank with Chase, the better the savings on interest rates and fees. Chase Bank offers account holders accounts for all life stages. You can start with a low-fee, basic Secure BankingSM checking account. As your savings increase, so do your account service options with Premiere SavingsSM and Premier Plus CheckingSM and Chase Private Client banking. Pros:
  • Most monthly maintenance fees are waivable
  • Fast mobile deposits usually available the next business day
  • Relationship rates
  • DIY and advisory investing available
Cons: What to look for: Besides all the account options, Chase Bank offers some of the top rewards credit cards, such as the Sapphire Reserve and Sapphire Preferred for travel and the Freedom Flex and Freedom Unlimited for cash back. READ OUR FULL REVIEW
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Navy Federal Credit Union

Why it stands out: Navy Federal Credit Union is available to members of the U.S. military, as well as to retired military, veterans and family members.

Is it worth joining a credit union for your banking needs? In the case of NFCU, yes. Accounts are generally free or come with easily-waivable monthly maintenance fees. Most accounts can earn dividends. And if you can park your money for some time without needing it, you can earn rates as high as 4.00% on a 5-Year CD if you have less than $100,000 in your account.

  • Branches overseas in Guam, Korea, Spain, Italy, Japan and more.
  • Four monthly service fee-free checking accounts
  • Access to 30,000+ free ATMs available in the U.S.
  • Receive up to $240 per year in rebates for out-of-network ATM withdrawals


  • Limited to military personnel and relatives
  • Lack of physical branches in the state

What to look for: You won't find as many dedicated branches as you would with some of the other best banks in Colorado that made the list. However, there are plenty of alternatives to the traditional branch, such as shared Co-Op locations, online banking, a digital mobile app, live chat and phone support.

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Bank of America

Why it stands out: Bank of America, Member FDIC, has structured its accounts differently for more flexibility. Checking accounts are available in tiers that can be switched without the need to close the previous account first, saving you the time it takes to order new checks and debit cards. You can start with the no-frills Bank of America Advantage SafeBalance Banking® checking account. There are no checks with the account, but you can set up bill pay, make ATM withdrawals and use the mobile app to make mobile check deposits. Bank of America Advantage Plus Banking® and Advantage Relationship Banking® are more traditional checking accounts, paying interest, offering free checks and more. Pros:
  • Monthly maintenance fees can be waived
  • Switchable checking account bundles
  • Relationship rates available through Bank of America Preferred Rewards
  • Merrill Edge offers low-cost, self-directed investing to account holders
  • No money market account available
  • Low APYs on Advantage Savings and Advantage Relationship Banking
What to look for: Merrill Edge is Bank of America's low-cost trading platform for unlimited, commission-free trades. You can also work with an advisor for a customized portfolio if you're willing to pay a monthly commission of 0.45% to 0.85% of your balance. READ OUR FULL REVIEW
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Wells Fargo

Why it stands out: Wells Fargo is well-known nationwide for its wide availability of bank branches and Colorado is no exception. You'll find nearly 130 branches and over 300 ATMs in the state. Opening an account is accessible to all, including youth and students. Most accounts have low opening deposit minimums of $25. Everyday Checking is one of Wells Fargo's best checking accounts for 2022. Although there is a monthly maintenance fee of $10 per month, it's waivable for young adults between 17 and 24 or with a minimum balance or monthly direct deposit of $500. Pros:
  • Waivable monthly maintenance fees
  • Low opening deposit minimums of $25
  • Highly-rated mobile app earned an average of 4.8 out of 5 stars
  • Clear Access checking doesn't charge overdraft fees
Cons: What to look for: Although there are plenty of ATMs and branches around, the Wells Fargo mobile app is worth downloading. You'll be able to bank 24/7 to monitor your accounts, set up alerts, control Wells Fargo cards and make mobile deposits. READ OUR FULL REVIEW


Why it stands out: Keybank is a regional bank but provides as many account options as you'd find in a larger bank. There are five checking accounts available, two of which have $0 monthly fees. The remaining three earn interest and have waivable monthly maintenance fees. Most don't require an opening deposit amount or if so, $10 is enough. The Hassle-Free checking account also waives overdraft fees, which can add up. Instead of approving a purchase, Key Bank will decline the transaction so you can avoid the non-sufficient funds charge. Pros:
  • Branches in 26 Colorado cities
  • Over 40,000 free ATMs available nationwide
  • Free basic accounts and premium accounts with waivable monthly maintenance fees
  • Less-than-stellar APYs
What to look for: Key Bank has a wide range of CD terms. You'll find short-term CDs for just seven days, all the way up to 10 years in length. Relationship Rewards members can earn a promotional rate of 0.05% APY on 12-month CDs up to $99,999. READ OUR FULL REVIEW
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U.S. Bank

Why it stands out: U.S. Bank is one of the larger banks in the country with a good representation in Colorado. You'll find 111 branches in the state. Full-service banking services include loans, credit cards and a wide breadth of accounts with waivable monthly maintenance fees. U.S. Bank's money market accounts are among the best. The Elite Money Market Account ranks high in the GOBankingRates Best Money Market Accounts of 2022 report. Pros:
  • Customizable debit cards
  • Small opening balance requirements of $25 to $100
  • Can charge up to four overdraft fees per day of $36 each
  • Low CD interest rates
What to look for: The U.S. Bank app is worth downloading. It has the features you'd expect from mobile banking but adds other integrations such as credit score monitoring and transfers using Zelle. It can also be used as a digital file cabinet, storing your banking documents and notices for online reference. READ OUR FULL REVIEW

First Tech Federal Credit Union

Why it stands out: There is a thriving tech startup community in Colorado. First Tech Federal Credit Union is designed for employees of new -- and major -- tech firms. Once you join the credit union, you'll receive competitive rates at a low cost. Accounts such as Rewards Checking come with waivable monthly maintenance fees and dividends of 1.50% APY. Even if you're not in the tech field, you may still be able to qualify by joining the Financial Fitness Association or Computer History Museum. It's worth the trouble. Another perk of being a member is getting approved for a First Tech Mastercard. Pair it with your Rewards Checking and Savings accounts and you'll earn 0.5% cash back up to $15 per month–  on your monthly spending and receive a $10 rebate to use on a streaming subscription. Pros:
  • Loans, insurance and investing also available
  • Low credit card APRs available
  • Robust mobile app
  • Few locations in Colorado
What to look for: Raymond James has partnered with First Tech as Addison Avenue to provide self-directed and advisor-based investing to account holders. It's another way to grow your money or plan for the future by setting up a Roth IRA investment account. READ OUR FULL REVIEW
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First Citizens Bank

Why it stands out: First Citizens Bank makes banking possible for nearly every financial life stage. You can open an account with as little as $50, with free and waivable-fee account options. Or access the bank's wealth management resources, such as working with professionals to establish or manage a financial plan. When you're ready to start saving and earning interest on your funds, you'll have the option of a money market account, savings account or CD. Minimum opening requirements are $500 for a money market or CD and $50 for a savings account. You'll earn 0.03% on your savings balances and get two free withdrawals per month. CDs pay as much as 0.15% APY, depending on the term. Pros:
  • Make unlimited, penalty-free transfers and withdrawals from your money market at branches and First Citizens ATMs
  • Free checking with a $50 minimum to open
  • Low minimum of $500 for CD
  • Six branches in Colorado
  • Low interest rate of 0.05% APY on Premier Checking account balances
What to look for: If you have a long-term savings plan, a First Citizen CD of four to five years could earn 0.15% APY. A shorter-term commitment of one year will earn you a 0.10% APY for $5,000 or more. READ OUR FULL REVIEW
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Final Take

The best banks in Colorado are a mix of banks and credit unions. You’ll find that most have branches throughout the state. If branches aren’t conveniently located near you, all the banks on the best-of list also provide a full-featured mobile banking app that makes it possible to handle your everyday finances anytime and anywhere.

Best Banks By Region

Rates are subject to change; unless otherwise noted, rates are updated periodically. All other information on accounts is accurate as of Dec. 19, 2022.

GOBankingRates is a personal finance and consumer interest rate website owned by ConsumerTrack Inc., an online marketing company serving top-tier banks, credit unions and other financial services organizations. Some companies mentioned in this article might be clients of ConsumerTrack Inc., which serves more than 100 national, local and online financial institutions. Rankings and roundups are completely objective, and no institution, client or otherwise, paid for inclusion or specific placement. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author alone and have not been reviewed, approved or otherwise endorsed by the companies included in the article. All fees and rates are subject to change at the issuers’ discretion. Some interest rates might be short-term or promotional offers only, and it is possible additional terms and conditions must be met to obtain the interest rates listed. Rates and availability might vary by region. Verify terms and conditions before opening an account.

GOBankingRates bases its assessment of “best” and “top” products on the above-stated parameters to create a baseline for comparison. This assessment is an approximation of “best” and “top” designed to help consumers find products that might be appropriate for them. There could be other options available as well. Consumers should consider various options appropriate for their circumstances.

To discover the Top 100 Best Banks, GOBankingRates looked at all institutions with available published data (National, Regional, Local, and Online) from the 2022 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. Rates and fees subject to change.

The information related to Chase products was collected by GOBankingRates and has not been reviewed or provided by the issuer of these products/cards. Product details may vary. Please see issuer website for current information. GOBankingRates does not receive commission for these products.

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.

Editorial Note: This content is not provided by Chase. 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 Chase.

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