RANKING & REVIEWS
TOP RANKING BANKS & CREDIT UNIONS IN PHOENIX, AZ
Find First-Rate Credit Unions and Banks in Phoenix, Arizona | AdvisoryHQ’s Top 6 Ranking
Have you ever seen a new bank pop up in your community and wonder if you should try it? This happens with homegrown banks and credit unions in just about every community, all the time, including Phoenix, AZ banks.
It’s not always easy to know if you should take a chance and entrust your hard earned money with a Phoenix bank that you don’t recognize or if you should just stick with one of the nationally recognized banks like Chase Bank Phoenix, AZ.
Award Emblem: Best 6 Banks & Credit Unions in Phoenix, AZ
Both larger national banks with branches in Phoenix, Arizona, and small local banks and credit unions in Phoenix offer benefits that are unique to each size of financial institution. For example:
- Larger banks in Phoenix have multiple locations throughout the country
- Smaller Phoenix credit unions and banks often have less red tape for securing a loan
- Larger banks, like US Bank Phoenix AZ, have mobile banking apps and other time saving technology tools
- Smaller banks and credit unions in Phoenix AZ offer a personal service and a “hometown” touch
If you’re living in Phoenix or one of the surrounding areas like Scottsdale, Mesa, or Tempe, Arizona, we’re going to make the decision of where to bank in Phoenix a little easier for you with our ranking of the top 6 best banks in Phoenix, AZ.
Plus, as a bonus we’ll note three other Phoenix, Arizona credit unions and banks to avoid until they improve on a few things.
Top 6 Best Banks & Credit Unions in Phoenix (Plus 3 to Avoid) | Brief Comparison & Ranking
Credit Unions & Banks in Phoenix, Arizona | Ratings |
| Arizona Bank & Trust | 5 |
| Arizona Central Credit Union | 5 |
| OneAZ Credit Union | 5 |
| US Bank | 5 |
| Chase Bank | 3 |
| National Bank of Arizona® | 3 |
| BMO Harris Bank | 1 |
| Canyon State Credit Union™ | 1 |
| FirstBank | 1 |
Table: Top 6 Phoenix Credit Unions & Banks (+3 to Avoid) | Above list is sorted by rating
Best Banks in Phoenix AZ FAQ | What’s the Difference Between Phoenix Banks and Phoenix Credit Unions?
Whether you’re looking for Phoenix, Scottsdale, Mesa, or Tempe, AZ banks or credit unions, a common first questions, is, “What’s the difference between a bank and a credit union?”.
Both types of financial institutions can offer a similar variety of banking, investment, and loan services, but there are some key differences you’ll want to know when choosing between the banks and credit unions in Phoenix.
Key Differences Between Banks in Phoenix and Credit Unions in Phoenix:
- Banks are for-profit, credit unions are not-for-profit
- Anyone can join a bank while credit unions have specific membership requirements
- Banks often have more branches and credit unions have less branches
- Banks tend to have higher fees, credit unions lower fees
Both the banks and credit unions in Phoenix, AZ offers have deposit insurance up to $250,000, depending on the account type.
All-in-One Change Management Tools
Top Rated Toolkit for Change Managers.
Get Your Change Management Tool Today...
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.
See Also: About RBS – What Is RBS? (Complaints, News & Reviews)
Detailed Review – Top Ranking Best Banks in Phoenix AZ
Below, please find a detailed review of each firm on our list of top Phoenix credit unions & banks. We have highlighted some of the factors that allowed these banks in Phoenix, AZ 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.
- Arizona Bank & Trust
- Arizona Central Credit Union
- OneAZ Credit Union
- US Bank
- Chase Bank
- National Bank of Arizona®
- BMO Harris Bank
- Canyon State Credit Union™
- FirstBank
Arizona Bank & Trust Review
One of the smaller local banks in Phoenix, Arizona with a great reputation is Arizona Bank & Trust, which is a subsidiary of Heartland Financial USA, Inc. The company is dedicated to promoting community involvement and local community banking.
Their parent company trades under HTLF on the NASDAQ and offers financial services in 121 banking locations serving 88 communities, including offering hometown banking, loan, and investment services through Phoenix, AZ banks.
Banks in Phoenix AZ Services at a Glance:
- 8 branch locations in Phoenix & surrounding areas
- Personal checking, savings, & health savings accounts
- Small business support & services
- Nonprofit finance & banking services
- Financial planning & wealth advisement
- Better Business Bureau A+ rating
Highlights That Make Arizona Bank & Trust Stand Out on Our List of Best Banks in Phoenix AZ
They Cater to Small Business Banking Needs
One of the bonuses of choosing one of the smaller local banks in Phoenix is that you can often find it easier to get a personal or small business loan. Arizona Bank & Trust takes this a step farther by having multiple services offered in support of small business.
These include:
- Loans
- Business checking & savings accounts
- Financing
- eBanking with 24-hour access
- Treasury management
- Investment services
GenGold® Rewards Program
You don’t have to give up the bonus and points programs offered by the big banks when you choose smaller Phoenix banks, like this one. They’ve teamed up with GenGold® to offer a suite of rewards.
This includes travel discounts, health services, and other value added options, like group dental or pet health insurance.
Arizona Bank & Trust is one of the small town Phoenix and Scottsdale, AZ banks that also offers “big bank” technology and services, which is why we’ve given them a top rating of 5 in our Phoenix, Arizona Credit Unions and Banks Review.
Don’t Miss: Aldermore Bank Reviews (UK) – How Safe Is Aldermore Bank? (Mortgages & Bank Review)
Arizona Central Credit Union Review
If you’re more interested in finding great not-for-profit credit unions Phoenix has to offer, then Arizona Central Credit Union is one you’ll want to take a look at. It was started in 1939 and has grown since then to serving nearly 60,000 members.
The membership criteria for credit unions in Phoenix, AZ or other towns can sometimes be a barrier to banking there, but not for Arizona Central Credit Union. It looks like just about anyone can join, without needing any special employment or club affiliation.
Phoenix Arizona Credit Unions Services at a Glance:
- 10 branch locations in Phoenix & surrounding areas
- Personal checking, savings, & loans
- Mortgages & home equity services
- Vehicle & student loans
- Insurance
- Better Business Bureau A+ rating
Highlights That Make Arizona Central Credit Union Stand Out on Our List of Best Banks in Phoenix AZ
Personal Loans at Just 5.99%
They offer personal loan rates at “up to 3 times cheaper” than the average credit card rate. Imagine having the ability to take that dream vacation, with just a 5.99% interest rate on a loan from this Phoenix credit union. They make that a reality.
Get $200 Just for Signing Up
This is one of the Phoenix credit unions that believes they can offer the best banking possible and they back that up with giving you $200 just for opening a new account.
All you have to do is open a checking account and perform at least 10 transactions within the first 60 days, sign up for their eStatements, and have a direct deposit of at least $250/month to get the $200 cash offer.
Arizona Central Credit Union got a 5 rating because they exemplify the reasons people choose the credit unions Phoenix has instead of Phoenix banks. Great special offers, low interest rates, and they make it easy for anyone to become a member.
Related: Bank5 Connect Review – Pros & Cons of Using Bank5 Connect (Reviews)
BMO Harris Bank Review
BMO Harris Bank is one of our “banks to avoid”, at least for the time being. The bank was first established in 1882 as Harris Bank and since then has grown into a regional corporation, serving the Midwest, along with Arizona and Florida.
A reason that this is one of the banks in Phoenix, Arizona that is on our list of those to avoid is the poor rating they’ve received on multiple websites, which include:
- 2 out of 5 stars on MyBankTracker
- 3.1 out of 5 stars on Glassdoor
- 2 out of 5 stars on Deposit Accounts
Banks in Phoenix AZ Services at a Glance:
- 21 branch locations in Phoenix & surrounding areas
- Personal savings and CDs
- Credit cards with rewards
- Mortgage & loan options
- Retirement planning
- Better Business Bureau no rating
What BMO Harris Bank Can Do to Improve their Standing Among Banks in Phoenix AZ
Improve Customer Service
A common thread that we found in the reviews of BMO Harris Bank was poor customer service. If they review how they’re supporting customers and the contact methods they have in place, they could greatly improve their ranking among Phoenix, AZ banks.
Popular Article: U.S. Bank Reviews – Accounts, Services, Online Banking, Mortgage Rates
Canyon State Credit Union™ Review
Another one Phoenix credit unions and banks to avoid is Canyon State Credit Union. This one is closer to solving their issues than the other two on our list. Although not perfect, they still have a B- rating on the Better Business Bureau.
A huge red flag of a business that isn’t quite up to par is that the copyright on the bottom of their website is outdated. Theirs is dated 2013 (these are usually updated every year).
Credit Unions Phoenix AZ Services at a Glance:
- 4 branch locations in Phoenix & surrounding areas
- Holiday/vacation savings
- Youth accounts
- Individual Retirement Accounts (IRAs)
- Financial planning
- Better Business Bureau B- rating
What Canyon State Credit Union™ Can Do To Improve their Standing Among the Best Banks in Phoenix AZ
Update Website
In today’s world, your website is your identity and first impressions matter. Our first bit of advice would be to update their website to mirror the navigation and ease of use that other credit unions and banks in Phoenix, Arizona have.
More Locations
With just 4 branch locations, it’s limiting the convenience of their members. We’d recommend opening Scottsdale, AZ and Tempe, AZ bank branches to be more competitive with others in their market.
Read More: Washington Trust Bank Ranking & Review
Chase Bank Review
Next, we’re going to look at one of the larger options, Chase Bank Phoenix, AZ. This is one of the big banks you can use if you’re looking to go with a national financial institution with the reach and number of locations that surpass the smaller Phoenix banks.
Chase is part of JPMorgan Chase & Co (NYSE: JPM) and they have 5,100 branches nationwide, serving nearly half of America’s households. So if you want the security of going with a big player in the banking industry, then Chase Bank Phoenix, AZ, is a best bet.
Banks in Phoenix AZ Services at a Glance:
- 81+ branch locations in Phoenix & surrounding areas
- Personal checking & savings accounts
- Cash back rewards credit cards
- Home & car loans
- Free credit score
- Better Business Bureau no rating
Highlights That Make Chase Bank Stand Out on Our List of Best Banks in Phoenix AZ
Free Credit Score and Alerts
One of the benefits of having a checking or savings account with Chase Bank Phoenix, AZ is that they have the infrastructure to offer you the latest tech banking tools.
Their Credit Journey℠ offers the perks of getting your credit score for free and automatically enrolls you in identity fraud alerts. Not something that all smaller Phoenix, AZ banks have the ability to offer.
Tons of Branches
With over 81 options for Chase Bank in Phoenix, AZ, Scottsdale, AZ banks, Tempe, AZ banks, and more, you can go just about anywhere in Phoenix or the surrounding areas and easily drop by to do your banking, which is very convenient if you’re on the road a lot.
Although Chase Bank Phoenix AZ has a lot going for them and they do offer multiple services that smaller banks in Phoenix can’t offer, they garnered a 3 rating, due to some of the negative reviews we’ve seen online. One of the drawbacks of being so large, is there’s more chance for poor customer support among the many branches.
Related: Wells Fargo Bank (Ranking & Review) | What You Should Know About Wells Fargo Bank
Free Wealth & Finance Software - Get Yours Now ►
FirstBank Review
The last of our “3 to avoid” banks is FirstBank. And it looks from their website as if they can’t decide whether to brand themselves as 1STBank or FirstBank. A red flag if you’re looking for an institution with continuity.
They were founded in 1963 and state that they now have over $17 billion in assets over 115 locations, which include Colorado, Arizona, and California.
Their F rating on the Better Business Bureau website was something that we couldn’t ignore, and the reason we note them as one of the banks in Phoenix you may want to avoid, at least until they improve.
Banks in Phoenix AZ Services at a Glance:
- 7 branch locations in Phoenix & surrounding areas
- Personal savings and checking
- Free online banking
- Mortgages
- 24/7 live call center
- Better Business Bureau F rating
What FirstBank Can Do to Improve their Standing Among Banks in Phoenix AZ
Improve Security
Many of the negative reviews we found were related to customer security. Skimmers on ATMs were noted as a security breach and accounts that were compromised. So, if FirstBank was to drastically improve the security for their account holders, they could increase their ranking among Phoenix, AZ banks.
Don’t Miss: Wilson Bank & Trust Ranking & Review
National Bank of Arizona Review
For 14 years National Bank of Arizona has been voted as “Arizona’s Best Bank.” If you’re looking for the small town feel, then this is definitely one of the banks in Phoenix, Arizona you’ll want to consider.
This Phoenix, AZ bank is a division of ZB, N.A. which operates in nearly 500 local financial centers across 11 Western states, including AZ, CA, CO, ID, NV, NM, OR, TX, UT, WA, WY. Their parent company is Zions Bancorporation (NASDAQ: ZION).
Banks in Phoenix AZ Services at a Glance:
- 12 branch locations in Phoenix & surrounding areas
- Small business merchant solutions
- Mobile banking solutions
- Personal checking, savings, money market options
- Executive and private banking
- Better Business Bureau A+ rating
Highlights That Make National Bank of Arizona Stand Out on Our List of Best Banks in Phoenix AZ
Green Returns
If you care about the environment, then guess what? This is one of the banks in Phoenix, AZ that cares about it too. They offer “Green Returns Banking & Financing” that promotes eco-friendly checking accounts, and supports home and business energy efficiency.
Nonprofit Banking
Charity organizations don’t always get breaks that recognize the work they’re doing, but this is one of the Phoenix credit unions and banks that is committed to serving the banking needs of nonprofit organizations.
Our rating for National Bank of Arizona is a 3, and the main reason was their outdated website. If they do a website redesign, they could improve that ranking easily.
OneAZ Credit Union Review
Looking for another Phoenix credit unions you can trust with your money? Then you’ll want to take a look at OneAZ Credit Union. They’ve got an A rating from DepositAccounts and an A+ from the Better Business Bureau.
Credit Unions Phoenix AZ Services at a Glance:
- 6 branch locations in Phoenix & surrounding areas
- Mortgages that give you more options
- Affordable auto loans
- Rewards credit cards
- Investment services
- Better Business Bureau A+ rating
Highlights That Make OneAZ Credit Union Stand Out on Our List of Best Banks in Phoenix AZ
Business Banking Solutions
A benefit of banking with Phoenix credit unions instead of banks is that you often get more favorable loan options. They help small businesses grow by offering checking, savings, and loan solutions that often have lower rates than the bigger banks.
Multiple Mortgage Solutions
A conventional mortgage might not be the best option for everyone. So, in addition to conventional, OneAZ offers other options such as one-time close construction, jumbo mortgage, and other additional loans.
Our rating for OneAz Credit Union is a 5 because they envision new lending solutions beyond the norm.
Popular Article: What Do You Need to Open a Bank Account? Complete Guide
US Bank Review
The final firm on our top 6 is US Bank Phoenix, AZ. It’s another of the “safe bet” big banks with multiple locations throughout the United States.
The Minneapolis-based US Bancorp (NYSE: USB) is the parent company of U.S. Bank National Association, which is the 5th largest bank in the U.S. They operate 3,088 banking offices in 25 states.
Banks in Phoenix AZ Services at a Glance:
- 15 branch locations in Phoenix & surrounding areas
- Personal checking & savings accounts
- Rewards credit cards
- Home & car loans
- Money management services
- Better Business Bureau A+ rating
Highlights That Make US Bank Stand Out on Our List of Best Banks in Phoenix AZ
Banking For Your Lifestyle
A bonus of going with a big bank in Phoenix, AZ is that you have options. That’s one of the things that US Bank advertises on their website, “banking that’s just your style.” You have the option of choosing from different plans depending on your banking needs.
Mortgage and Refinancing
US Bank Phoenix, AZ offers a lot of mortgage and refinancing options to help reduce your monthly mortgage payment. Because they’re one of the larger banks, they also have online mortgage calculator tools.
We’ve given US Bank a 5 rating because they’re a big bank that also works hard to provide excellent customer service on the local level, which is evident when you look over their reviews on multiple websites.
Conclusion – Top 6 Best Banks in Phoenix AZ
Some people are more comfortable with a big name institution with branches around the country; in addition to Phoenix banks locations. Others like the comfort of homegrown Phoenix credit unions and banks with a friendly face that they might have gone to school with.
Whichever your preference, you’ve got some great options to choose from if you live in Phoenix or any of the surrounding cities.
The main thing to research, if you’re trying to decide between Phoenix credit unions or Phoenix banks, is how it is going to benefit you personally.
Do you need multiple locations for convenience or is that not a priority because you primarily bank online? Are you looking for easy loans with low rates that credit unions typically offer?
The bottom line is that you’ve got choices for any banking needs among these top 6 credit unions and banks in Phoenix, Arizona to meet your personal or business banking needs.
Rate Table Disclaimer
Click here to read AdvisoryHQ’s disclaimer on the rate table(s) displayed on this page.
References:
- https://wallethub.com/edu/credit-union-vs-bank/115/
- https://www.arizbank.com/
- http://www.azcentralcu.org
- https://www.bmoharris.com
- https://www.canyonstatecu.org/
- https://locator.chase.com/search/az/phoenix
- https://www.efirstbank.com/
- https://www.nbarizona.com
- https://www.oneazcu.com/
- https://www.usbank.com/index.html
Image sources:
- http://www.freeimages.com/photo/central-phoenix-corridor-1501346
- https://www.nbarizona.com/Merchant-Services.jsp
AdvisoryHQ (AHQ) Disclaimer:
Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.
Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.
