RANKING & REVIEWS
TOP RANKING AUSTIN BANKS AND CREDIT UNIONS
Ranking the Top 6 Best Banks & Best Credit Unions in Austin, Texas (& One to Avoid)
Austin, Texas has bragging rights as the capital city of the Lone Star State. Residents live in one of the fastest growing large cities in the country. With so much going on and a bustling economy, many wonder where to find the best Austin credit union or bank.
In our search of the best Austin banks and credit unions, we found plenty of local hometown choices, plus a few larger banks in Austin, TX. Credit unions seem to be favored highly here.
Award Emblem: Top 6 Best Banks & Best Credit Unions in Austin, Texas
So, in our Top Ranking of the Best Banks and Credit Unions in Austin, Texas, you’ll find four convenient and quality not-for-profit credit unions to choose from. But we’ve also included two of the best banks in Austin, TX on our list.
We will also warn you about one particular bank that you’ll want to avoid if you’re searching for an Austin bank.
Top 6 Best Credit Unions & Banks in Austin, TX (and 1 to Avoid) | Brief Comparison & Ranking
Austin Banks and Credit Unions | Ratings |
| Austin Telco Federal Credit Union | 5 |
| Bank of America | 5 |
| United Heritage Credit Union | 5 |
| University Federal Credit Union | 5 |
| Frost Bank | 3 |
| Randolph-Brooks Federal Credit Union (RBFCU) | 3 |
| Austin Bank | 1 |
Table: Top 6 Austin, TX Banks & Credit Unions (& 1 to Avoid) | Above list is sorted by rating
Austin, Texas Credit Unions FAQ | What are Shared or CO-OP Branches?
When you’re researching locations for an Austin, Texas credit union, you may find that they mention “shared” or “CO-OP” branches. These are branches that other credit unions in Austin, or other cities, share so they can serve more members.
Unlike a bank in Austin, Texas, a credit union is not-for-profit, so they don’t have the same competition barriers as banks do. By joining the CO-OP, they can offer members nearly 30,000 ATMs and 5,000+ shared branches to provide more convenience.
So, when you’re looking up the locations for a best Austin credit union, be sure to click on the shared or CO-OP branch locations, if applicable, to get your full list of options.
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AdvisoryHQ’s Selection Methodology
What methodology does AdvisoryHQ use in selecting and finalizing the credit cards, financial products, firms, services, and products that are ranked on its various top-rated lists?
Please click here “AdvisoryHQ’s Ranking Methodologies” for a detailed review of AdvisoryHQ’s selection methodologies for ranking top-rated credit cards, financial accounts, firms, products, and services.
Detailed Review – Top Ranking Best Banks & Best Credit Unions in Austin, TX (and 1 to Avoid)
Below, please find a detailed review of each firm on our list of top Austin bank or credit union. We have highlighted some of the factors that allowed each credit union or bank in Austin, Texas to score so highly in our selection ranking.
Click on any of the names below to go directly to the review section for that firm.
- Austin Telco Federal Credit Union
- Bank of America
- United Heritage Credit Union
- University Federal Credit Union
- Frost Bank
- Randolph-Brooks Federal Credit Union (RBFCU)
- Austin Bank
Austin Telco Federal Credit Union Review
Since 1941, Austin Telco Federal Credit Union has been serving Austin and the surrounding areas. It’s pretty easy to qualify for this Austin, Texas credit union, all you have to do is live, work, worship or attend school in Travis, Williamson, Hays, Bastrop or Caldwell counties.
Below are the highlights that make Austin Telco Federal Credit Union stand out on this 2018 best Austin credit unions & banks ranking.
Austin Telco Federal Credit Union Services at a Glance:
- 11 branch locations in Austin, Texas & surrounding areas
- Member rewards program
- Better Business Bureau Accredited Business
- Online Money Manager tool
- Retirement & investment services
- Better Business Bureau A+ rating
Skip-A-Pay Program
Money can get a little tight around the holidays, and Austin Telco Federal Credit Union understands. Their Skip-A-Pay program is just the thing to help the end of the year look a littler brighter. They allow members to skip a loan payment between November 15th and December 31st.
Rating Summary
We rated Austin Telco Federal Credit Union a 5 as one of the best credit unions in Austin. While they may have a “no-frills” website, it’s lightening fast and very easy to navigate.
They get great reviews on many popular sites like Yelp and WalletHub, where their fast and friendly customer service is noted often. And reviewers say that they’re the best Austin credit union for both business and personal banking.
If you’re looking for an Austin bank or credit union, you’ll also definitely enjoy their member rewards programs with discounts at places like Sprint.
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Bank of America Review
With over 4,500 financial centers in all 50 U.S. states and beyond, Bank of America in Austin offers the ultimate in reach and convenience to those looking for Austin, TX banks. They also provide industry-leading support to about 3 million small business owners.
Below are the highlights that make Bank of America Austin stand out our 2018 Ranking of Best Austin Banks & Credit Unions.
Bank of America Services at a Glance:
- 34 branch locations in Austin, Texas & surrounding areas
- Named by Fortune magazine as one of the 50 Best Workplaces for Parents
- Recognized by Euromoney with 11 awards for excellence in banking
- Better Money Habits® resource center
- They do business in more than 35 countries
- Better Business Bureau A- rating
Money Management Made Easy
Bank of America Austin is definitely the bank in Austin, Texas that makes money management easy. You can transfer money in seconds with their Zelle® powered app and enjoy award-winning investment advice through Merrill Edge®, their investment division.
Rating Summary
As a big bank that still has the top customer service ratings similar to smaller Austin, TX banks, we ranked Bank of America Austin a 5. The convenience of your Austin bank having a branch just about anywhere you go can’t be overlooked if you travel often.
We also found that Bank of America Austin has the largest number of branches in the city and surrounding area itself. They have 34, which is more than any other best Austin credit union or bank on our list.
Overall, if you’re looking for Austin, TX banks with just about every service you could want, plus all the top technology and mobile tools, then Bank of America Austin is an excellent choice among the larger banks in the area.
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United Heritage Credit Union Review
When you visit the website for United Heritage Credit Union, you can see that they’re proudly Austin-based and Austin-bred. They first began in 1957 as Military Federal Credit Union and now serve Central Texas, Austin, and the Tyler communities.
Below are the highlights that make United Heritage Credit Union stand out on our 2018 Ranking of Best Banks and Credit Unions in Austin.
United Heritage Credit Union Services at a Glance:
- 7 branch locations in Austin, Texas & surrounding areas
- Award-winning social media presence
- Charity & community outreach
- Holiday Skip-A-Pay program
- Insurance & investment products
- Better Business Bureau A+ rating
Modern Banking Convenience
Social media has become the place that people get their information first. United Heritage is one of the credit unions in Austin that’s very active on social media, which is a great thing if you’re regularly using social media yourself.
They’ve won multiple awards for their social media marketing and also have kept up with all the modern mobile banking conveniences like smart phone deposits and ability to pause your card.
Rating Summary
United Heritage Credit Union earned a 5 rating on our 2018 Ranking of Best Banks and Credit Unions in Austin. They’re proud of their Austin heritage and have kept up with this growing city by expanding their offerings, like adding insurance products, and providing online convenience.
Their website also provides a transparent look at all their loan and interest rates and fees. Their security center with information on the latest security threats show they’re one of the best credit unions in Austin, TX that cares about keeping their members safe.
If you visit them online, be sure to read their Employee Stories to get a feel why people in Austin, Texas choose United Heritage Credit Union over other Austin banks or credit unions.
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University Federal Credit Union Review
If you’re a student, you may want to take particular notice of this next Austin, Texas credit union. University Federal Credit Union (UFCU) first opened its doors in 1936, and today serves more than 200 universities, associations and employers in Central Texas and Galveston County.
Below are the highlights that make University Federal Credit Union stand out on this 2018 Ranking of Best Banks and Credit Unions in Austin ranking.
University Federal Credit Union Services at a Glance:
- 11 branch locations in Austin, Texas & surrounding areas
- Ranked #1 Austin Mortgage Producer
- Branch community events
- Stocks, bonds, & IRA investment products
- Personal & business account services
- Better Business Bureau A+ rating
Credit Card Reward Choices
You don’t have to choose one of the large best banks in Austin, TX to get plenty of credit card reward choices to fit your personal preference. UFCU offers cards with a low interest rate, cash back, travel rewards, or premium travel rewards. And most come without an annual fee.
Rating Summary
University Federal Credit Union earned a top 5 score on our 2018 Ranking of Best Banks and Credit Unions in Austin, TX. Not only do they have excellent reviews across multiple sites, they also make qualifying to be a member easy.
You can join by being affiliated with one of the many universities, companies, or associations they’re connected with. Or if none of those apply, simply make a one time $20 donation to the Longhorn Foundation and you’re in.
For students, this is definitely a credit union in Austin you’ll want to consider since many of their offerings are tailored to their needs. But they also have a robust selection of services for businesses and individuals in all states of life.
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Frost Bank Review
If you want to check out a smaller bank in Austin, Texas with a community feel, Frost Bank is one to consider. They were started in San Antonio in 1868 to provide Texans with supplies to prosper on the Frontier. This is one of the best banks in Austin, TX that is deeply rooted in the community.
Below are the highlights that make Frost Bank stand out on this 2018 Best Austin Banks & Credit Unions ranking.
Frost Banks Services at a Glance:
- 5 branch locations in Austin, Texas & surrounding areas
- Among the 50 largest banks in the U.S.
- Largest Texas-based bank that operates exclusively in the Lone Star State
- Online & mobile banking
- Brokerage accounts & investment products
- Better Business Bureau A+ rating
Insurance for Personal and Business
You can’t find farm & ranch insurance at just any Austin bank. But Frost Bank was born, raised, and still lives in Texas, so they have the insurance products that Texans need. Through their multiple insurance providers, you can find insurance for home, auto, life, umbrella, personal, vehicle, and more.
Rating Summary
Frost Bank has a lot of great things going for them, and there aren’t many other best banks in Austin, TX that are as dedicated to serving one state as they are. We rated Frost a high 3 in our ranking, but could easily see them moving up by improving a few of their online review site ratings.
A few of the mixed reviews included online banking support issues for Quickbooks and mixed reports on customer service. However, there’s no denying that Frost is one of the top Austin, TX banks if you’re looking for lots of “big bank” services with a local community touch.
If you like a bank that supports non-profits, promotes volunteering, and takes part in the Community Reinvestment ACT, then Frost is among the best banks in Austin that checks all those boxes for community involvement.
Read More: First National Bank Texas (FNBT) (Ranking & Review)
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Randolf-Brooks Federal Credit Union (RBFCU) Review
Randolph-Brooks Federal Credit Union, or RBFCU for short, is an Austin, Texas credit union that serves the communities of Austin, Dallas, and San Antonio.
They have over 55 branches in total throughout Texas. This is one of the best credit unions in Austin that started out serving military members and now has hundred of thousands of members across the state.
Below are the highlights that make RBFCU stand out on this 2018 Ranking of Best Banks and Credit Unions in Austin ranking.
Randolf-Brooks Federal Credit Union Services at a Glance:
- 9 branch locations in Austin, Texas & surrounding areas
- Named as one of the Best Companies to Work for in Texas
- CEO awarded CEO of the Year Award from the National Association of Federally-Insured Credit Unions (NAFCU)
- Member cash back and rewards programs
- FHA & VA loans
- Better Business Bureau A+ rating
Record-Breaking Cash Back Rewards Program
Getting rewards points and cash back are more common now at many of the best credit unions and best banks in Austin, TX and elsewhere, but RBFCU takes it a step farther than others. In the past two years, they’ve given members over $10 million in cash back and debit card rewards. That’s a pretty awesome benefit just for banking with them.
Rating Summary
We awarded Randolph-Brooks Federal Credit Union a 3 in our ranking of the best credit unions in Austin. They offer some excellent member-centric rewards and low rates on auto and home loans.
A few members mentioned fees that cropped up when debits were posted before credits on a daily balance, causing overdraft fees they felt were unfair. That’s one area that if rectified could easily clear them for a higher ranking on our Ranking of Best Austin Banks and Credit Unions.
In addition to donating to community causes like the American Red Cross, they also have earned awards as a top place to work both in San Antonio and in the state of Texas. This is also the best Austin credit union if you like a focus on the needs of military families and veterans.
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Austin Bank Review
Next, we’re going to tell you which bank in Austin, Texas you’ll want to avoid for now, because it’s not actually in Austin at all. You wouldn’t know it by the name, but Austin Bank doesn’t have a single location in the city of Austin. Thus we had to mention this anomaly.
In fairness, the bank is named for the Austin family, not the city, but it’s located in Eastern Texas and the confusion factor is evident for people looking for Austin, TX banks.
Below are some of the improvements we feel would help Austin Bank move up on this 2018 Ranking of Best Banks in Austin.
Open a Branch in Austin
Our first bit of advice is the most obvious. If you’re named for a family that has the same name as a large city in the region, it helps to actually have locations there. Not only does Austin Bank not have any Austin city branches, the nearest location is in Palestine, TX, a little over 3 hours away.
Update Their Website
Something else that could help Austin Bank improve their online image is to update their website to a move modern, responsive design While the site is fairly easy to navigate, it doesn’t really give a modern banking vibe to people that are bank shopping.
Rating Summary
Austin Bank received a 1 in our rating of the best Austin credit union or bank listing. This bank is one of the first to come up when someone searches on “Austin banks,” but if they don’t look further, they could make an unfortunate mistake with no branch anywhere nearby.
They look to have a decent online reputation, with both customers and employees giving them praise. They could easily capitalize on their name if they opened just a location or two in the Austin, Texas area. It’s not too far out from their other branches, and with the name Austin Bank, it just makes sense.
With that one change, we would easily be willing to revisit our ranking and possibly include then in the future on a list of the best banks in Austin, Texas.
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Conclusion – Top 6 Best Austin Credit Unions & Banks (& 1 to avoid)
From large global banks to smaller regional credit unions, there are plenty of top choices for Texans looking for the best banks & credit unions in the city of Austin. Just be sure to double check their branch locations, and not just assume a bank with the name of the city is actually located there.
We hope that our listing of the top choices of best Austin, Texas credit unions and banks helped narrow down some of your personal banking options. In a city that is one of the fastest growing in the country, you definitely want to make sure you’ve got a bank than can keep up.
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