Best Banks and Credit Unions in the Midwest for 2026
Earn up to 4.30% APY*
- Limited Time Offer - New accounts earn a 0.70% APY boost to 4.30% for up to 6 months with eligible direct deposit*
- $0 min. balance to earn APY
- Open Checking & Savings Accounts with 1 Sign Up
- Up to 2-Day-Early Paycheck3
- FDIC Insured up to $250k plus up to $3M in supplemental insurance4
- No Account Fees5 & No-fee Overdraft Coverage6
*Terms Apply
1. Up to $300 Bonus Tiered Disclosure
New and existing Checking and Savings members who have not previously enrolled in Direct Deposit with SoFi are eligible to earn a cash bonus of either $50 (with at least $1,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period) OR $300 (with at least $5,000 total Eligible Direct Deposits received during the Direct Deposit Bonus Period). Cash bonus will be based on the total amount of Eligible Direct Deposit. If you have satisfied the Eligible Direct Deposit requirements but have not received a cash bonus in your Checking account, please contact us at 855-456-7634 with the details of your Eligible Direct Deposit. Direct Deposit Promotion begins on 12/7/2023 and will be available through 1/31/2026. Full terms at sofi.com/banking. SoFi Checking and Savings is offered through SoFi Bank, N.A., Member FDIC. SoFi members with Eligible Direct Deposit can earn 3.60% annual percentage yield (APY) on savings balances (including Vaults) and 0.50% APY on checking balances. There is no minimum Eligible Direct Deposit amount required to qualify for the 3.60% APY for savings (including Vaults). Members without Eligible Direct Deposit will earn 1.00% APY on savings balances (including Vaults) and 0.50% APY on checking balances. Interest rates are variable and subject to change at any time. These rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional information can be found at http://www.sofi.com/legal/banking-rate-sheet.
2. APY disclosures
Annual percentage yield (APY) is variable and subject to change at any time. Rates are current as of 11/12/25. There is no minimum balance requirement. Fees may reduce earnings. Additional rates and information can be found at https://www.sofi.com/legal/banking-rate-sheet
3. Fee Policy
We do not charge any account, service or maintenance fees for SoFi Checking and Savings. We do charge a transaction fee to process each outgoing wire transfer. SoFi does not charge a fee for incomingwire transfers, however the sending bank may charge a fee. Our fee policy is subject to change at any time. See the SoFi Bank Fee Sheet for details at sofi.com/legal/banking-fees/.
4. Additional FDIC Insurance
SoFi Bank is a member FDIC and does not provide more than $250,000 of FDIC insurance per depositor per legal category of account ownership, as described in the FDIC’s regulations. Any additional FDIC insurance is provided by the SoFi Insured Deposit Program. Deposits may be insured up to $3M through participation in the program. See full terms at SoFi.com/banking/fdic/sidpterms. See list of participating banks at SoFi.com/banking/fdic/participatingbanks.
5. ATM Access
We’ve partnered with Allpoint to provide you with ATM access at any of the 55,000+ ATMs within the Allpoint network. You will not be charged a fee when using an in-network ATM, however, third-party fees may be incurred when using out-of-network ATMs. SoFi’s ATM policies are subject to change at our discretion at any time.
6. Early Access to Direct Deposit Funds
Early access to direct deposit funds is based on the timing in which we receive notice of impending payment from the Federal Reserve, which is typically up to two days before the scheduled payment date, but may vary.
7. Overdraft Coverage
Overdraft Coverage is a feature automatically offered to SoFi Checking and Savings account holders who receive at least $1,000 or more in Eligible Direct Deposits within a rolling 31 calendar day period on a recurring basis. Eligible Direct Deposit is defined on the SoFi Bank Rate Sheet, available at https://www.sofi.com/legal/banking-rate-sheet. Members enrolled in Overdraft Coverage may be covered for up to $50 in negative balances on SoFi Bank debit card purchases only. Overdraft Coverage does not apply to P2P transfers, bill payments, checks, or other non-debit card transactions. Members with a prior history of unpaid negative balances are not eligible for Overdraft Coverage. Eligibility for Overdraft Coverage is determined by SoFi Bank in its sole discretion. Members can check their enrollment status, if eligible, at any time by logging into their account through the SoFi app or on the SoFi website.
8. 0.70% Savings APY Boost
Earn up to 4.30% Annual Percentage Yield (APY) on SoFi Savings with a 0.70% APY Boost (added to the 3.60% APY as of 11/12/25) for up to 6 months. Enroll in SoFi Plus between 9/18/25 and 1/31/26. Rates variable, subject to change. Terms apply at sofi.com/sofi-plus SoFi Bank, N.A. Member FDIC.
Earn 4.00% APY* with Barclays' Tiered Savings Account
- $0 Min. Balance to Earn APY on Barclays' Tiered Savings
- No Monthly Maintenance Fees
- Easy Direct Deposits & Online Transfers
- Deposits are FDIC Insured
*Rate as of 11/19/2025
* Barclays Tiered Savings Annual Percentage Yields (APYs) are accurate as of 01/13/2025 and may change at any time without prior notice, before or after the account is opened. The APYs are determined by the Balance Tiers (Tiers) and the amount deposited. The same rate may apply to multiple Tiers and Tiers may change without notice. APY is calculated based on the Tier into which the end of day account balance falls. Fees could reduce the earnings on the account. No minimum balance to open, but for interest to post to your account you must maintain a minimum balance that would earn you at least $0.01. Please see the Compare Account Page for current Tier and APY information. The APY for the Barclays Tiered Savings account for balance tiers greater than $250,000 are currently 10X the national average of 0.46% APY, based on the national average of savings account rates published in the FDIC's National Rates and Rate Caps, accurate as of 09/16/2024.
Earn 3.75% APY* with Platinum Savings
-
With a Balance of $5,000 or More*
-
Earn 0.25% APY with a Balance of Less than $5k*
-
$100 Minimum Deposit to Open Account
-
No Account Opening or Monthly Service Fees
-
CIT Bank Account is FDIC Insured
*Rate as of 9/23/25
*For complete list of account details and fees, see our Personal Account disclosures
*Platinum Savings is a tiered interest rate account. Interest is paid on the entire account balance based on the interest rate and APY in effect that day for the balance tier associated with the end-of-day account balance.
*APYs — Annual Percentage Yields are accurate as of September 23, 2025: 0.25% APY on balances of $0.01 to $4,999.99; 3.85% APY on balances of $5,000.00 or more. Interest Rates for the Platinum Savings account are variable and may change at any time without notice. The minimum to open a Platinum Savings account is $100.
*Based on comparison to the national average Annual Percentage Yield (APY) on savings accounts as published in the FDIC National Rates and Rate Caps, accurate as of September 15, 2025.
Earn 3.40% APY* with a Discover™ Savings Account
- Earn Over 5X the National Savings Average¹
- $0 Min. Balance to Earn APY
- $0 Monthly Fees & No Min. Opening Deposit
- No Overdraft Fees
- Deposits are FDIC-insured up to $250,000²
*Rates as of 9/30/2025
*The Annual Percentage Yield (APY) for the Online Savings Account as of 04/25/2025 is more than five times the national average APY for interest bearing savings accounts with a balance of $500 as reported by Curinos as of 04/25/2025. National average is based on information regarding the top 50 banks (by deposit size) and may not include information from variations in regional pricing at such banks or information from products that may not be widely available to their customers. Rates were obtained from Curinos, who relies on the data from the banks it tracks and such information cannot be guaranteed. APYs are subject to change at any time.
Regional banks and credit unions may have a smaller physical footprint than big national financial institutions, but they can often be more flexible and provide better terms. They’re also familiar with the financial needs of residents in the areas they serve and can tailor their products to meet those needs. In some cases, they can offer surprising perks and a personal touch to banking.
To help you find the right one in the Midwest, Money researched dozens of financial institutions in that region. Based on their offerings, fees and customer service, here are our choices for the best banks and credit unions in the Midwest for 2026:
- MidWest America Federal Credit Union - Best Overall
- Gate City Bank - Best for CDs
- Associated Bank - Best for Interest-Bearing Checking
- Huntington Bank - Best for Free Checking
- Old National Bank - Best for Customer Satisfaction
*Rates and APYs are subject to change. All information provided was accurate as of Oct. 14, 2025.
Best Overall: MidWest America Federal Credit Union
MidWest America Federal Credit Union operates branches in Indiana, Illinois and Kentucky with plans to expand their service area in the future. The credit union has an ATM network with 55,000 locations and offers various savings, checking and money market accounts, in addition to student and senior accounts, share certificates and individual retirement accounts (IRAs).
In order to receive the highest APY available for MidWest America's money market account, customers must have a minimum balance of $100,000. But the checking accounts offered by MidWest America are interest-bearing, with APYs up to 4.00% on balances up to $10,000.
- Network of 55,000 ATMs
- Offers student accounts
- Interest-bearing checking accounts
- Higher opening balance requirement for savings
- Comparatively lower APY on savings
- Balance caps for interest-bearing checking
Best for CDs: Gate City Bank
Gate City Bank operates 45 locations in 23 communities across North Dakota and Minnesota. It has an ATM network with 85,000 locations and has a Trustpilot rating of 3.2 stars out of a possible 5. Gate City offers an interest-bearing checking account, but its APY is relatively low and requires a $50 minimum opening balance. The bank also offers IRAs and student accounts.
The bank charges a monthly fee for its money market accounts, but it can be waived by meeting certain criteria. Where Gate City separates itself from other Midwest banks is with its CDs, with terms ranging from three months to five years and APYs up to 3.80%.
- Network of 85,000 ATMs
- Competitive APYs for CDs
- Money market monthly fee can be waived
- Monthly fee for money market account
- $50 minimum opening balance for checking
Best For Interest-Bearing Checking: Associated Bank
With hundreds of locations throughout Illinois, Minnesota, Missouri and Wisconsin as well as 24/7 online banking, Associated Bank stands out for its strong Trustpilot rating (3.1 stars out of 5) and diverse account offerings that include health savings accounts (HSAs) and interest-bearing checking accounts (though the bank doesn't disclose its APYs on its website).
There is minimum deposit requirement of $1,000 for CDs and money market accounts, as well as a $100 minimum opening deposit for its interest-bearing checking accounts. Associated bank also offers annuities and IRAs.
- High Trustpilot rating
- Interest-bearing checking accounts
- Health savings accounts available
- Low savings APY
- Monthly fees for savings
- $1,000 minimum deposit for CDs and money market accounts
Best for Free Checking: Huntington Bank
Huntington Bank operates branch locations in 13 states, including several in the Midwest. It offers various savings, checking, and money market accounts in addition to CDs. The bank's Premier savings account has a relatively low APY and a monthly maintenance fee; however, that fee can be waived by meeting certain requirements.
The bank's free checking account — Asterisk Free Checking — does not charge monthly maintenance fees or requirement minimum opening balances. Additionally, the account's Standby Cash feature allows customers to qualify for emergency cash of $100 to $750 with no monthly interest and no credit check. However, Huntington has a limited ATM network with only 1,600 locations.
- Branches in 13 states
- Standby Cash feature provides emergency savings at no interest
- Fees can be waived for savings
- Limited ATM access
- Low APY for savings
- Monthly fees for savings
Best for Customer Satisfaction: Old National Bank
Old National Bank has a network of 25,000 ATM locations and receives an A+ rating from the Better Business Bureau. The bank's Select Banking is a free checking account if you enroll in online statements. The bank has branch locations in Minnesota, Wisconsin and North Dakota. If you can’t access one of its fee-free ATMs, Old National reimburses up to $15 per statement cycle for out-of-network fees. The bank charges monthly fees for its checking and savings accounts, but they can be waived by enrolling in paperless statements.
Old National Bank has a positive Community Reinvestment Act (CRA) rating for lending, investments and services. The bank also receives high marks for its customer service, mortgage lending services and its mobile app, which is currently receives 4.8 stars out of possible 5 on Apple's App Store and 3.6 stars out of 5 on the Google Play Store.
- Strong customer satisfaction ratings
- Monthly fees can be waived
- High mobile app rating
- Limited out-of-network ATM reimbursement
- Low savings and money market APYs
Compare Savings Accounts rates today
Up to 2-day-early paycheck
Earn up to 4.30% APY*
- Limited Time Offer - New accounts earn a 0.70% APY boost to 4.30% for up to 6 months with eligible direct deposit*
- $0 min. balance to earn APY
- Open Checking & Savings Accounts with 1 Sign Up
- Up to 2-Day-Early Paycheck3
- FDIC Insured up to $250k plus up to $3M in supplemental insurance4
- No Account Fees5 & No-fee Overdraft Coverage6
*Terms Apply
No monthly maintenance fees
- $0 Min. Balance to Earn APY on Barclays' Tiered Savings
- No Monthly Maintenance Fees
- Easy Direct Deposits & Online Transfers
- Deposits are FDIC Insured
*Rate as of 11/19/2025
No minimum opening deposit
- Earn Over 5X the National Savings Average¹
- $0 Min. Balance to Earn APY
- $0 Monthly Fees & No Min. Opening Deposit
- No Overdraft Fees
- Deposits are FDIC-insured up to $250,000²
*Rates as of 9/30/2025
Open an account in 5 minutes
- With a Balance of $5,000 or More*
-
Earn 0.25% APY with a Balance of Less than $5k*
-
$100 Minimum Deposit to Open Account
-
No Account Opening or Monthly Service Fees
-
CIT Bank Account is FDIC Insured
No hidden fees
Enjoy hassle-free banking and earn 4.20% APY* with no more hidden fees.
- Enjoy free monthly maintenance
- Watch your savings grow with daily compounded interest.
- Deposit anytime, anywhere with unlimited mobile check deposits.
- Deposits are FDIC-insured up to $250,000
*Rate as of 10/10/2025
How we chose the Best Banks of 2026
To determine our list of best banks for 2026, Money staff evaluated hundreds of financial institutions. We then evaluated the interest rates offered, minimum required balances, fees charged, ATM accessibility and perks or rewards obtained by opening a specific account. You can read our full methodology here.
We researched leading regional financial institutions to identify the best banks and credit unions in the Midwest for 2026. We compared bank account options, rates, deposit minimums, fees and added benefits and features to select our top choices. We placed particular emphasis on banks with branch locations in midwestern states. We also prioritized banks with broad ATM networks and low fees.
You can read our full methodology here.