Best Banks and Credit Unions in the Mid-Atlantic

Despite their smaller size, most regional banks offer the same access to an array of banking products. Like their national counterparts, most offer competitive rates on savings accounts and loans. The Mid-Atlantic region, including Delaware, Maryland, Virginia and Washington, D.C., is no different. Many top financial institutions operate in this region.

To identify the best banks and credit unions of the Mid-Atlantic, we researched their accounts, fees, annual percentage yields (APYs) and customer satisfaction ratings.

Here are Money's picks for the best banks and credit unions in the Mid-Atlantic for 2024-2025:

• Capital One - Best Overall
• Atlantic Union - Best for Checking
• M&T Bank - Best for Youth Accounts
• PNC - Best for CDs
• Wells Fargo - Best for Promotional Offers

*Rates and fees were current as of Oct. 8, 2024.

Although Capital One is primarily a digital bank, it operates locations just outside of Washington, D.C. It's a leading bank for most deposit accounts, including checking accounts, savings accounts and certificates of deposit (CDs). Its accounts don't charge monthly fees, and you can take advantage of high APYs on savings accounts and CDs. Capital One stands out for offering savings accounts and checking accounts with no monthly fees and no minimum balance requirements. Its APYs tend to be significantly higher than the national average, allowing you to grow your money over time. Additionally, Capital One is highly-rated; J.D. Power awarded the bank the top spot in the U.S. National Banking Satisfaction Study.

The downside? Capital One doesn't operate many physical branches, so you may not have the option of stopping in to visit a branch when you need help.

Atlantic Union is a regional bank that caters to its local communities. It has several checking account options, including two accounts without monthly fees: One free checking option is available to anyone, and the other — the ThankU Checking account — is for teachers, first responders, healthcare professionals and members of the U.S. Armed Forces. This account has no monthly fee, and it's an interest-bearing checking account.

Atlantic Union's checking accounts include other perks, such as interest rate discounts on loans and discounts on Norton identity theft protection. However, its normal CDs and personal savings accounts have lower-than-average APYs. While it does have some promotional CD terms with attractive rates, it has a higher minimum deposit than many other banks, so not everyone will be able to take advantage of the promotional APY.

For parents and grandparents who want to help their loved ones build strong financial habits, M&T Bank's Starter Savings account is a good option. Designed for children and teens under the age of 18, this account has no monthly maintenance fees or minimum balance requirements, helping young children start saving early. M&T Bank is a regional bank that operates over 1,000 branches and 2,200 ATMs in 12 states. One of its key features is its financial management tools. Customers, including children who open a Starter Savings account, can create budgets and track their spending online or through the M&T Bank mobile app.

Custodians should keep in mind that once the child turns 18, M&T Bank will convert the Starter Savings account into a normal savings account. M&T Bank's savings accounts involve monthly fees unless you meet minimum balance requirements, so that can be an unexpected surprise. In general, M&T Bank's savings accounts tend to have low APYs, and the bank has higher deposit requirements and fewer term options for CDs.

PNC operates banks in 29 states, and has many branches in the Mid-Atlantic states. It offers a variety of deposit accounts, but it stands out with its promotional CD offers. Depending on the term you choose, you could qualify for an APY that is several times higher than the national average. PNC has more CD term options than most banks; you can choose a term as short as seven days or as long as 10 years.

However, its rates vary by zip code, so not everyone will get the best rates. And, its savings accounts tend to have lower-than-average APYs, so you may want to look elsewhere for a high-yield savings account.

Wells Fargo is the third-largest commercial bank in the U.S., and it has a significant presence in the Mid-Atlantic region. Customers who open new checking or savings accounts with the bank — and meet deposit or balance requirements — can qualify for hundreds in bonuses thanks to Wells Fargo's special promotional offers. Depending on the type of account you open and how much you deposit into the account, you could qualify for a bonus between $125 and $500. Plus, the bank has powerful budgeting and financial management tools you can use to boost your savings.

Wells Fargo does charge monthly fees on most of its accounts, but you may be eligible for fee waivers if you meet certain balance requirements or other criteria. However, the bank does have a high minimum deposit of $2,500 for CDs, and it offers a lower-than-average APY on savings accounts.

How we chose the Best Banks of 2024-2025

To determine our list of best banks for 2024-2025, Money staff evaluated hundreds of the largest retail banks, credit unions, regional and state banks, ranked by assets, and 20 of the most popular online banks. We then compared opening balance requirements, interest paid, fees and features to determine our top picks.

To select the best banks and credit unions of the Mid-Atlantic, we researched the major financial institutions in the area and compared their deposit account minimums, APYs, fees and extra perks and benefits. We also looked at the number of branches and ATMs each bank has, as well as their customer satisfaction ratings.

You can read our full methodology here.

More from Money

Back to Best Banks

Best Banks for Digital Investing

Best Online Banks