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Black-owned banks have a long history of serving Black Americans, and they continue to serve communities today.
The first national bank in the US was created in 1791 to collect tax funds, make loans to citizens, and more. It was initially opened in Philadelphia, and had branches across the country. But as slavery continued, the bank did not serve all Americans.
The end of the Civil War eventually brought millions of Black Americans freedom from slavery. And even though then-President Abraham Lincoln established the Freedman's Savings and Trust Company ("Freedman's Bank") in 1865 to help serve freed slaves, Freedman's Bank failed in 1874 due to corruption and risky investments. Though it had once boasted 37 branches and $57 million in deposits, thousands of Black customers lost their savings.
Against a backdrop of racist practices in the banking industry, including denial of access, Black-owned banks arose to help disenfranchised Black Americans. In 1888, Capital Savings Bank in Washington, DC, became the first Black bank to open, and the Savings Bank of the Grand Fountain United Order of True Reformers in Richmond, Virginia, became the first chartered Black-owned bank in the United States, later opening in 1889. More Black-owned banks followed.
Today, these banks are considered "minority depository institutions" (MDI) by the Federal Deposit Insurance Corporation. The FDIC defines an MDI as "a federal insured depository institution for which (1) 51% or more of the voting stock is owned by minority individuals; or (2) a majority of the board of directors is minority and the community that the institution serves is predominantly minority." There are dozens of Black-owned financial institutions in the United States, including credit unions .
Each bank we selected is an FDIC-designated minority depository institution. The FDIC defines an MDI as a bank in which "minority individuals own 51% or more of the voting stock, or a majority of the board of directors is a minority and the community that the institution serves is predominantly minority." We chose banks on the FDIC's official MDI list as of the fourth quarter of 2020.
Each credit union we selected is an NCUA-designated minority depository institution. The NCUA defines an MDI as a credit union in which "more than 50% of its current members are minority individuals, more than 50% of its current and eligible potential members are minority individuals, and more than 50% of its current board members are minority individuals." We narrowed down our list by setting 10,000 members as the minimum threshold for a credit union to be considered. You can find smaller credit unions that may be closer to you on this list.
Banks and credit unions are fairly similar — they're places that allow you to sock away cash and borrow money — but there are a few key differences that may help you decide between them.
Credit unions are not-for-profit organizations owned by their members. As a result, they can often offer lower interest rates on loans and higher interest rates on savings products.
Shareholders own banks, which are for-profit financial institutions. Banks frequently have better online and mobile applications with more features, as they have more resources for research and development.
Credit unions often have specific eligibility requirements, such as living in a particular location or belonging to a specific group. Credit unions tend to have fewer physical branch locations, so if in-person transactions are important to you, you may want to consider a bank.
Both financial institutions insure your accounts up to $250,000, so you're protected if your bank or credit union closes. They both frequently offer similar services, like checking accounts , savings accounts, and individual retirement accounts.
OneUnited Bank is the nation's largest Black-owned and FDIC-insured bank. It was established by combining Black-owned banks from across the country.
OneUnited offers fully-online banking nationwide, financial workshops for members, and has financed over $100 million in loans in recent years in low- and middle-income communities.
Yes. There continues to be a racial wealth gap in the United States, and access to traditional banks is limited in many majority-Black communities.
"Even though we have federal fair lending and anti-discrimination laws, Black people still suffer from racial discrimination in the banking sector," said said Robert E. James, II, chairman of the National Bankers Association, a trade organization and advocacy voice for the nation's minority banks. Black-owned banks and credit unions can be "financial anchors for communities that have been historically deprived equal access to credit, capital, and even basic financial services," said James.
Without access to traditional financial institutions, many Americans turn to high-interest payday loans or pawn shops for access to capital. Black-owned banks in Black communities can offer access to FDIC-insured checking and savings accounts, financial literacy programs, reasonable loans, and more.
Like their non-minority peers, many Black-owned banks suffered during the Great Depression, though the damage was more severe because of their locations in lower-income communities hit hard by economic decline. There was a resurgence in Black banking in the 1960s and '70s, but the industry was again struck by economic decline in the 1980s and during the Great Recession in 2008.
In 2020, the 20 MDIs tracked by the FDIC (which insures banks) held about $5.5 billion in assets. It's a small percentage of the total industry, but a percentage nonetheless.
"The No. 1 reason for the sharp decline in Black banks has been lack of access to capital," James told Insider. "Some of that has to do with small scale, being privately held, and the like. Also, our relative small scale has meant that our banks haven't been able to achieve the economies of other, larger banks, hampering our opportunities to grow and expand."
These banks and credit unions offer a range of personal and business banking services, including deposit accounts, online banking services, credit cards, retirement accounts, and mortgage lending.
Anyone. "We are all subject to the same regulations and standards as any other bank, and all of our banks welcome customers of any race, gender, religion or sexual orientation," said James, pointing to the Atlanta Hawks 2020 agreement to secure $35 million in construction financing via Black-owned banks — a first for a professional sports team. "We specialize in customer service and treat all customers fairly."
To bank with most of these insitutions, you need to either a) live in a certain state, or b) open an account at a branch — so you can probably only bank with them if you live nearby. But there are a couple, such as OneUnited and Liberty Bank & Trust, that allow you to open an account online from anywhere in the US.
Check out this list, of course, and read "Let Us Put Our Money Together: The Founding of America's First Black Banks," a publication of the Federal Reserve Bank of Kansas City.
And if you want more information on MDIs, including those owned by Hispanic Americans, Asian Americans, and Native Americans, visit the webpage of the National Bankers Association. For historical data on MDIs (banks only), visit the FDIC's webpage.
Branches: 1 (Birmingham)
ATMs: 0
Services: Checking accounts, savings accounts, money market accounts , certificates of deposit, commercial real estate loans, lines of credit, auto loans, construction loans, lot loans, online banking
Branches: 2 (Birmingham, Eutaw)
ATMs: 0
Services: Checking accounts, savings accounts, certificates of deposit, money market accounts, credit cards, home loans, personal loans, auto loans, home equity lines of credit, online banking, mobile banking
Read Insider's full review of Citizens Trust Bank here.
Branches: 2 (Mobile)
ATMs: 2 bank-operated (Mobile), or any Publix Super Market ATM/PNC Bank ATM nationwide
Services: Credit builder certificate of deposit loans, individual retirement accounts, certificates of deposit, checking accounts, savings accounts, money market accounts, personal loans, home loans, vehicle loans, commercial loans, online banking, mobile banking
Community outreach: Commonwealth National Bank offers student scholarships and leadership development programs, and it supports organizations like the Boys & Girls Clubs of South Alabama. Read more here.
Branches: 2 (Montgomery) or any credit union in the Shared Branching Network
ATMs: 2 (Montgomery) or any credit union in the Shared Branching Network
Services: Checking accounts, savings accounts, individual retirement accounts, share certificates, money market accounts, personal loans, credit builder loans, home equity loans, vehicle loans, credit cards, home loans, savings/share certificate secured loans, signature loans, online banking, mobile banking, telephone banking
Community outreach: Hope Credit Union provides funding for affordable housing and healthy-food programs, as well as leadership training opportunities. Read more here.
Branches: 2 (Montgomery, Tuskegee)
ATMs: 2 (Montgomery, Tuskegee)
Services: Checking accounts, savings accounts, individual retirement accounts, certificates of deposit, personal loans, home equity loans, home equity lines of credit, automobile loans, credit cards, home loans, credit cards, debit cards, online banking, mobile banking, telephone banking
Community outreach: Liberty Bank sponsors local neighborhood sports and provides affordable housing. Read more here.
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Branches: 3 (College Station, Little Rock, West Memphis) or any credit union in the Shared Branching Network
ATMs: 3 (College Station, Little Rock, West Memphis) or any credit union in the Shared Branching Network
Services: Checking accounts, savings accounts, individual retirement accounts, share certificates, money market accounts, personal loans, credit builder loans, home equity loans, vehicle loans, credit cards, home loans, savings/share certificate secured loans, signature loans, online banking, mobile banking, telephone banking
Community outreach: Hope Credit Union provides funding for affordable housing and healthy-food programs, as well as leadership training opportunities. Read more here.
Branches: 3 (Inglewood, Los Angeles)
ATMs: 3 (Inglewood, Los Angeles) or any one of over 30,000 MoneyPass ATMs
Services: Checking accounts, savings accounts, individual retirement accounts, certificates of deposit, money market accounts, apartment loans, credit cards, online banking, mobile banking, telephone banking
Read Insider's full review of Broadway Federal Bank here.
Branches: 1* (Los Angeles)
ATMs: Any one of over 30,000 MoneyPass ATMs
Services: Checking accounts, savings accounts, certificates of deposit, money market accounts, credit cards, online banking, mobile banking, home loans, multifamily loans, commercial real estate loans
Community outreach: OneUnited Bank provides contributions focused on four major areas: financial literacy, general literacy, affordable housing, and community development. Read more here.
*OneUnited Bank plans to open a new Compton branch in spring 2021.
Read Insider's full review of OneUnited Bank here.
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Branches: 1 (Miami)
ATMs: Any one of over 30,000 MoneyPass ATMs
Services: Checking accounts, savings accounts, certificates of deposit, money market accounts, credit cards, online banking, mobile banking, home loans, multifamily loans, commercial real estate loans
Community outreach: OneUnited Bank provides contributions focused on four major areas: financial literacy, general literacy, affordable housing, and community development. Read more here.
Read Insider's full review of OneUnited Bank here.
Branches: 2 (Savannah)
ATMs: 3 (Savannah)
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, certificates of deposit, home loans, home equity lines of credit, personal loans, auto loans, credit rebuilder loans, church financing, credit counseling, online banking, telephone banking
Community outreach: Carver State Bank, with community partners, has established a program to help low-income individuals and families become small business owners and graduates of post-secondary education programs. Read more here.
Branches: 6 (Atlanta, East Point, South Fulton, Stonecrest, Stone Mountain)
ATMs: 7 (Atlanta, Decatur, Lithonia, Stonecrest, Stone Mountain)
Services: Checking accounts, savings accounts, credit cards, certificates of deposit, money market accounts, home loans, personal loans, auto loans, home equity lines of credit, online banking, mobile banking
Read Insider's full review of Citizens Trust Bank here.
Branches: 2 (Atlanta)
ATMs: 4 (Atlanta) or any one of over 30,000 MoneyPass ATMs and any ATM in the STAR network
Services: Checking accounts, savings accounts, money market accounts, share certificates, individual retirement accounts, auto loans, secured loans, credit cards, home loans, home equity loans, signature loans, credit builder loans, online banking, mobile banking, telephone banking
Community outreach: Credit Union of Atlanta sponsors a scholarship for students ages seven to 24 to support childrens' futures. Read more here.
Branches: 1 (Atlanta)
ATMs: 1 (Atlanta) or any one of the ATMs in the Select ATM network
Services: Checking accounts, savings accounts, certificates of deposit, money market accounts, individual retirement accounts, auto loans, personal loans, credit cards, faith-based organizational loans, online banking, mobile banking
Community outreach: Unity National Bank financially supports agencies like the YMCA, YWCA, NAACP, and United Negro College Fund. Read more here.
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Branches: 1 (Chicago)
ATMs: 1 (Chicago)
Services: Checking accounts, savings accounts, money market accounts, certificates of deposit, personal loans, home equity loans, home equity lines of credit, personal loans, personal lines of credit, home loans, credit cards, debit cards, online banking, mobile banking
Branches: 1 (Forest Park)
ATMs: 1 (Forest Park) and any ATM in the STAR network
Services: Checking accounts, savings accounts, individual retirement accounts, certificates of deposit, personal loans, home equity loans, home equity lines of credit, automobile loans, credit cards, home loans, credit cards, debit cards, online banking, mobile banking, telephone banking
Community outreach: Liberty Bank sponsors local neighborhood sports and provides affordable housing. Read more here.
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Branches: 1 (Kansas City)
ATMs: 1 (Kansas City)
Services: Checking accounts, savings accounts, individual retirement accounts, certificates of deposit, personal loans, home equity loans, home equity lines of credit, automobile loans, credit cards, home loans, credit cards, debit cards, online banking, mobile banking, telephone banking
Community outreach: Liberty Bank sponsors local neighborhood sports and provides affordable housing. Read more here.
Branches: 1 (Louisville)
ATMs: 0
Services: Checking accounts, savings accounts, individual retirement accounts, certificates of deposit, personal loans, home equity loans, home equity lines of credit, automobile loans, credit cards, home loans, credit cards, debit cards, online banking, mobile banking, telephone banking
Community outreach: Liberty Bank sponsors local neighborhood sports and provides affordable housing. Read more here.
Branches: 2 (New Orleans) or any credit union in the Shared Branching Network
ATMs: 2 (New Orleans) or any credit union in the Shared Branching Network
Services: Checking accounts, savings accounts, individual retirement accounts, share certificates, money market accounts, personal loans, credit builder loans, home equity loans, vehicle loans, credit cards, home loans, savings/share certificate secured loans, signature loans, online banking, mobile banking, telephone banking
Community outreach: Hope Credit Union provides funding for affordable housing and healthy-food programs, as well as leadership training opportunities. Read more here.
Branches: 7 (Baton Rouge, New Orleans)
ATMs: 19 (Baton Rouge, New Orleans)
Services: Checking accounts, savings accounts, individual retirement accounts, certificates of deposit, personal loans, home equity loans, home equity lines of credit, automobile loans, credit cards, home loans, credit cards, debit cards, online banking, mobile banking, telephone banking
Community outreach: Liberty Bank sponsors local neighborhood sports and provides affordable housing. Read more here.
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Branches: 3 (Andrews Air Force Base, Suitland, Waldorf) and the branches in the CO-OP Shared Branch network
ATMs: 30,000+ free ATMS nationwide
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, share certificates, vehicle loans, personal loans, credit cards, gift cards, home loans, home equity loans, home equity lines of credit, homeowners insurance, early direct deposit, mobile banking, online banking, telephone banking, overseas branches
Community outreach: Andrews Federal Credit Union sponsors 10 $2,000 college scholarships per year to help members pay for school costs. Learn more here.
Branches: 1 (District Heights) and the branches in the CO-OP Shared Branch network
ATMs: 30,000+ free ATMS nationwide
Services: Checking accounts, savings accounts, money management accounts, individual retirement accounts, share certificates, auto loans, home loans, personal loans, credit cards, home equity loans, home equity lines of credit, recreational vehicle loans, share and secured loans, mobile banking, online banking, telephone banking
Branches: 2 (Forestville, Oxon Hill)
ATMs: 2 (Forestville, Oxon Hill) and any ATMs in the Allpoint network
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, certificates of deposit, home loans, online banking, mobile banking, telephone banking, debit cards
Community outreach: Industrial Bank provides free financial literacy courses every year and participates in community service. Read more here.
Branches: 9 (Baltimore, Catonsville, Dundalk, Pikesville, Randallstown) and the branches in the CO-OP Shared Branch network
ATMs: 9 (Baltimore, Catonsville, Dundalk, Pikesville, Randallstown) and 30,000 additional no-fee ATMS nationwide
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, share certificates, education savings accounts, auto loans, home loans, home equity loans, home equity lines of credit, personal loans, credit cards, online banking, mobile banking, telephone banking, insurance products
Community outreach: MECU supports local nonprofits that work in arts and culture, youth empowerment, community development, and more. Read more here.
Branches: 3 (Baltimore, Owings Mills) and over 6,400 shared branches
ATMs: 3 (Baltimore, Owings Mills) and ATMs in the Allpoint Network
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, share certificates, education savings accounts, vehicle loans, home loans, home equity loans, home equity lines of credit, personal loans, secured loans, reloadable cards, online banking, mobile banking, insurance products
Community outreach: Securityplus is part of the HopeFul Market, a free farmers market for the homeless. Read more here.
Branches: 7 (Baltimore, Randallstown, Silver Spring)
ATMs: 6 (Baltimore, Randallstown) and ATMs in the Allpoint network
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, certificates of deposit, home equity loans, home equity lines of credit, installment loans, VIP loans, mobile banking, online banking, telephone banking, check card, ATM card
Branches: 3 (Boston, Dorchester, Roxbury)
ATMs: Any one of over 30,000 MoneyPass ATMs
Services: Checking accounts, savings accounts, certificates of deposit, money market accounts, credit cards, online banking, mobile banking, home loans, multifamily loans
Community outreach: OneUnited Bank provides contributions focused on four major areas: financial literacy, general literacy, affordable housing, and community development. Read more here.
Read Insider's full review of OneUnited Bank here.
Branches: 2 (Detroit, Warren) and any branch in the CO-OP Shared Branch network
ATMs: 30,000 additional no-fee ATMS nationwide
Services: Checking accounts, savings accounts, share certificates, individual retirement accounts, credit cards, debit/ATM card, auto loans, home equity loans, student loans, online banking, telephone banking
Community outreach: ABD Federal Credit Union has helped with projects like Habitat for Humanity and local soup kitchens. Read more here.
Branches: 3 (Clinton Township, Detroit)
ATMs: 6 (Clinton Township, Detroit) or any nationwide FIB, Fifth Third, TCF, or Chemical Bank ATM
Services: Checking accounts, savings accounts, certificates of deposit, money market accounts, credit cards, debit cards, online banking, mobile banking, vehicle loans, home equity loans, home equity lines of credit, home loans, personal loans, CD loans
Community outreach: First Independence Bank has established a millennial advisory board and sponsored a youth basketball clinic and tournament. Read more here.
Branches: 1 (Detroit)
ATMs: 0
Services: Checking accounts, savings accounts, individual retirement accounts, certificates of deposit, personal loans, home equity loans, home equity lines of credit, automobile loans, credit cards, home loans, credit cards, debit cards, online banking, mobile banking, telephone banking, telephone banking
Community outreach: Liberty Bank sponsors local neighborhood sports and provides affordable housing. Read more here.
Branches: 4 (Detroit, Highland Park) and the branches in the CO-OP Shared Branch network
ATMs: 1 (Detroit) and 30,000 additional no-fee ATMS nationwide
Services: Checking accounts, savings accounts, individual retirement accounts, share certificates, money market accounts, personal loans, home equity loans, home equity lines of credit, vehicle loans, credit cards, home loans, credit builder loan, payday loans, bill consolidation loans, debit cards, ATM cards, online banking, mobile banking, telephone banking
Community outreach: One Detroit Credit Union sponsors gift and food drives to provide resources for families in need. Read more here.
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Branches: 12 (Biloxi, Drew, Greenville, Itta Bena, Jackson, Louisville, Moorhead, Shaw, Terry, Utica, West Point) or any credit union in the Shared Branching Network
ATMs: 12 (Biloxi, Drew, Greenville, Itta Bena, Jackson, Louisville, Moorhead, Shaw, Terry, Utica, West Point) or any credit union in the Shared Branching Network
Services: Checking accounts, savings accounts, individual retirement accounts, share certificates, money market accounts, personal loans, credit builder loans, home equity loans, vehicle loans, credit cards, home loans, savings/share certificate secured loans, signature loans, online banking, mobile banking, telephone banking
Community outreach: Hope Credit Union provides funding for affordable housing and healthy-food programs, as well as leadership training opportunities. Read more here.
Branches: 2 (Byram, Jackson)
ATMs: Any ATM in the Dolphin ATM Alliance or the Culiance network
Services: Checking accounts, savings accounts, individual retirement accounts, certificates of deposit, personal loans, auto loans, home loans, student loans, credit cards, debit cards, mobile banking, online banking
Branches: 1 (Jackson)
ATMs: 5 (Jackson)
Services: Checking accounts, savings accounts, individual retirement accounts, certificates of deposit, personal loans, home equity loans, home equity lines of credit, automobile loans, credit cards, home loans, credit cards, debit cards, online banking, mobile banking, telephone banking
Community outreach: Liberty Bank sponsors local neighborhood sports and provides affordable housing. Read more here.
Branches: 1 (Kansas City)
ATMs: 0
Services: Checking accounts, savings accounts, individual retirement accounts, certificates of deposit, personal loans, home equity loans, home equity lines of credit, automobile loans, credit cards, home loans, credit cards, debit cards, online banking, mobile banking, telephone banking
Community outreach: Liberty Bank sponsors local neighborhood sports and provides affordable housing. Read more here.
Branches: 17 (Benton Park, Ferguson, Florissant, Jennings, Pagedale, Richmond Heights, St. John, St. Louis, Sullivan, University City, Wellston) and the branches in the CO-OP Connected Credit Unions network
ATMs: Any of the ATMs in the CO-OP Connected Credit Unions network
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, share certificates, personal loans, home equity lines of credit, auto loans, recreational vehicle/power sports loans, payday saver loans, home loans, credit cards, debit cards, online banking, mobile banking, telephone banking
Community outreach: St. Louis Community Credit Union hosts an annual community service effort to work with local charities. Read more here.
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Branches: 3 (Burlington, McGuire Air Force Base, Mt. Laurel) and the branches in the CO-OP Shared Branch network
ATMs: 30,000+ no-fee ATMS nationwide
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, share certificates, vehicle loans, personal loans, credit cards, gift cards, home loans, home equity loans, home equity lines of credit, homeowners insurance, early direct deposit, mobile banking, online banking, telephone banking, overseas branches
Community outreach: Andrews Federal Credit Union sponsors 10 $2,000 college scholarships per year to help members pay for school costs. Learn more here.
Branches: 1 (Newark)
ATMs: 1 (Newark) and any ATMs in the Allpoint network
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, certificates of deposit, home loans, online banking, mobile banking, telephone banking, debit cards
Community outreach: Industrial Bank provides free financial literacy courses every year and participates in community service. Read more here.
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Branches: 7 (Brooklyn, Jamaica, New York City)
ATMs: 2 (New York City) and ATMs in the Allpoint network
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, landlord/tenant security accounts, debit cards, wire transfers, online banking, mobile banking, telephone banking, installment loans, lines of credit
Branches: 1 (New York City)
ATMs: 1 (New York City) and any ATMs in the Allpoint network
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, certificates of deposit, home loans, online banking, mobile banking, telephone banking, debit cards
Community outreach: Industrial Bank provides free financial literacy courses every year and participates in community service. Read more here.
Branches: 8 (Charlotte, Durham, Greensboro, Raleigh, Winston-Salem)
ATMs: 8 (Charlotte, Durham, Greensboro, Raleigh, Winston-Salem)
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, certificates of deposit, health savings accounts, personal loans, home equity lines of credit, auto loans, credit cards, mobile banking, online banking
Community outreach: Mechanics & Farmers Bank hosts financial literacy workshops and workshops to help business owners and community members understand opportunities available during the pandemic. Read more here.
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Branches: 1 (Oklahoma City)
ATMs: 1 (Oklahoma City)
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, certificates of deposit, personal loans, home equity lines of credit, home loans, auto loans, boat loans, signature loans, debit/ATM cards, mobile banking, online banking, telephone banking
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Branches: 1 (Philadelphia) and the branches in the CO-OP Shared Branch network
ATMs: 30,000+ no-fee ATMS nationwide
Services: Checking accounts, savings accounts, money management accounts, individual retirement accounts, share certificates, auto loans, home loans, personal loans, credit cards, home equity loans, home equity lines of credit, recreational vehicle loans, share and secured loans, mobile banking, online banking, telephone banking
Branches: 2 (Philadelphia)
ATMs: 8 (Philadelphia)
Services: Checking accounts, savings accounts, money market accounts, certificates of deposit, credit building loans, check cards, mobile banking, online banking, telephone banking, banking by mail
Community outreach: United Bank of Philadelphia provides financing to small businesses to spur job growth. Read more here.
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Branches: 1 (Columbia)
ATMs: 3 (Columbia)
Services: Checking accounts, savings accounts, individual retirement accounts, certificates of deposit, money market accounts, auto loans, home loans, home equity lines of credit, line of credit loans, online banking, mobile banking
Branches: 4 (Columbia, Easley)
ATMs: 8 (Columbia, Easley) or any ATM in the Shared Branching Network
Services: Checking accounts, savings accounts, individual retirement accounts, share certificates, health savings accounts, auto loans, home loans, home equity lines of credit, line of credit loans, personal loans, student loans, online banking, mobile banking, telephone banking, debit cards, credit cards, insurance products
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Branches: 2 (Memphis, Nashville)
ATMs: 1 (Nashville) and you are reimbursed any fees from any ATM in the US or abroad
Services: Checking accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, auto loans, credit cards, home loans, home equity loans, personal loans, debit cards, online banking, mobile banking
Branches: 4 (Memphis) or any credit union in the Shared Branching Network
ATMs: 4 (Memphis) or any ATM in the Shared Branching Network
Services: Checking accounts, savings accounts, individual retirement accounts, share certificates, money market accounts, personal loans, credit builder loans, home equity loans, vehicle loans, credit cards, home loans, savings/share certificate secured loans, signature loans, online banking, mobile banking, telephone banking
Community outreach: Hope Credit Union provides funding for affordable housing and healthy-food programs, as well as leadership training opportunities. Read more here.
Branches: 1 (Memphis)
ATMs: 1 (Memphis) or any one of the ATMs in the Money Tower Network
Services: Checking accounts, savings accounts, money market accounts, certificates of deposit, individual retirement accounts, auto loans, credit cards, home loans, home equity loans, personal loans, debit cards, online banking, mobile banking, telephone banking
Branches: 2 (Houston, Missouri City)
ATMs: 2 (Houston, Missouri City) or any one of the ATMs in the Select ATM network
Services: Checking accounts, savings accounts, certificates of deposit, money market accounts, individual retirement accounts, auto loans, personal loans, credit cards, faith-based organizational loans, online banking, mobile banking
Community outreach: Unity National Bank financially supports agencies like the YMCA, YWCA, NAACP, and United Negro College Fund. Read more here.
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Branches: 2 (Alexandria, Springfield) and the branches in the CO-OP Shared Branch network
ATMs: 30,000+ no-fee ATMS nationwide
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, share certificates, vehicle loans, personal loans, credit cards, gift cards, home loans, home equity loans, home equity lines of credit, homeowners insurance, early direct deposit, mobile banking, online banking, telephone banking, overseas branches
Community outreach: Andrews Federal Credit Union sponsors 10 $2,000 college scholarships per year to help members pay for school costs. Learn more here.
Branches: 1 (Alexandria) and the branches in the CO-OP Shared Branch network
ATMs: 30,000+ no-fee ATMS nationwide
Services: Checking accounts, savings accounts, money management accounts, individual retirement accounts, share certificates, auto loans, home loans, personal loans, credit cards, home equity loans, home equity lines of credit, recreational vehicle loans, share and secured loans, mobile banking, online banking, telephone banking
Branches: 1 (Alexandria) and the branches in the CO-OP Shared Branch network
ATMs: ATMs in the following networks: CO-OP, Star, CU24, Visa, Shared Branch, Transit Employees FCU
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, share certificates, vehicle loans, loyalty loans, student loans, personal loans, signature loans, credit cards, gift cards, reloadable cards, home loans, home equity loans, home equity lines of credit, secured loans, insurance products, wire transfers, mobile banking, online banking
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Branches: 2 (Washington DC) and the branches in the CO-OP Shared Branch network
ATMs: 30,000+ no-fee ATMS nationwide
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, share certificates, vehicle loans, personal loans, credit cards, gift cards, home loans, home equity loans, home equity lines of credit, homeowners insurance, early direct deposit, mobile banking, online banking, telephone banking, overseas branches
Community outreach: Andrews Federal Credit Union sponsors 10 $2,000 college scholarships pear year to help members pay for school costs. Learn more here.
Branches: 2 (Washington DC) and the branches in the CO-OP Shared Branch network
ATMs: 30,000+ no-fee ATMS nationwide
Services: Checking accounts, savings accounts, money management accounts, individual retirement accounts, share certificates, auto loans, home loans, personal loans, credit cards, home equity loans, home equity lines of credit, recreational vehicle loans, share and secured loans, mobile banking, online banking, telephone banking
Branches: 4 (Washington DC)
ATMs: 9 (Washington DC) and any ATMs in the Allpoint network
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, certificates of deposit, home loans, online banking, mobile banking, telephone banking, debit cards
Community outreach: Industrial Bank provides free financial literacy courses every year and participates in community service. Read more here.
Branches: 1 (Washington DC) and the branches in the CO-OP Shared Branch network
ATMs: ATMs in the following networks: CO-OP, Star, CU24, Visa, Shared Branch, Transit Employees FCU
Services: Checking accounts, savings accounts, money market accounts, individual retirement accounts, share certificates, vehicle loans, loyalty loans, student loans, personal loans, signature loans, credit cards, gift cards, reloadable cards, home loans, home equity loans, home equity lines of credit, secured loans, insurance products, wire transfers, mobile banking, online banking
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Branches: 1 (Milwaukee)
ATMs: 0
Services: Certificates of deposit, individual retirement accounts, home loans, church loans
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Leslie Quander Wooldridge is a writer, editor, consultant, and coach whose articles have reached tens of millions of readers. Visit her at www.lesliequander.com or follow her on Instagram.
Ryan Wangman is a reviews fellow at Personal Finance Insider reporting on mortgages, refinancing, and banking. In his past experience writing about personal finance, he has written about credit scores, financial literacy, and homeownership.
