--- title: Best Banks and Credit Unions of the Midwest for 2027 description: Money looked at dozens of financial institutions to find the 2027 best banks and credit unions of the Midwest. authors: - name: Kat Tretina role: Contributor url: https://money.com/author/kat-tretina/ education: B.A in English and Communications from Elizabethtown College, M.A. in Communications from West Chester University at_money_since: 2025 articles: 31 covers: - Banking - Insurance - Loans former_staff: true editors: - name: Jordan Chussler role: Editor, Investing and Banking url: https://money.com/author/jordan-chussler/ bio: Jordan is an investment editor who specializes in topics ranging from traditional equities, retirement savings and income investing to alternative assets and commodities, specifically focusing on gold and other precious metals. He combines his personal interests and professional experience in finance and education to help readers increase their financial literacy and make better investment choices. Jordan is a Certified Personal Finance Counselor. education: Lynn University certifications: Certified Personal Finance Counselor at_money_since: 2023 articles: 133 covers: - Banking - Credit - Credit Cards - Economy and Politics - Housing - Identity Theft - Insurance - Investing - Loans - Mortgages - Personal Finance - Professional Services - Retirement also_seen_in: - Weiss Ratings - 24/7 Wall Street - Better Investing - Yahoo Finance - Nasdaq - Investing.com - Marketbeat - MSN Money social: - https://www.linkedin.com/in/jordan-chussler-b3597811/ published: '2026-10-14T14:54:57.000Z' modified: '2026-10-14T17:47:43.000Z' section: Banking tags: - Best word_count: 827 canonical: https://money.com/best-banks-and-credit-unions-midwest/ type: Article source: structured-blocks --- > **Disclosure:** We research all brands listed and may earn a fee from our partners. Research and financial considerations may influence how brands are displayed. Not all brands are included. [Learn more](https://money.com/page/disclaimer/). ![Best Banks and Credit Unions of the Midwest for 2027](https://img.money.com/2024/09/Best-Banks-2024-Ranking-States-Midwest-mbci_9st04__8ot54y.jpg?quality=85&w=1012&h=569&crop=1) ## Our Partners ### TOP PARTNER ![Sign Up](https://s3.consumersadvocate.org/prd/image/image/19227/medium_5c3a0d96-3da5-45d8-8e99-d58f043e9433.png) Our Partner [Sign Up](https://money.com/go/ba840bb995d0?ap_referrer=%2Fbest-banks-and-credit-unions-midwest%2F&bidid=4222654260&pmeta=p129-c561-u43950&ptid=683263805&ptoken=5af1744bc1dcc6534aa8a3e97816238f&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215) **Up to 3.30% APY² with eligible direct deposit or $5,000 or more in qualifying deposits during the 31-day evaluation period.** - Limited Time Offer - +0.90% Boost on Savings APY to up to 4.20% for up to 6 months on new accounts. Terms apply.8  - $0 min. balance to earn APY - Open Checking & Savings Accounts with 1 Sign Up - Up to 2-Day-Early Paycheck3 - Access additional FDIC insurance up to $3M on deposits4 - No Account Fees5 & No-fee Overdraft Coverage6 \*Terms Apply **\[AFFILIATE LINK: Open SoFi Account Today\]** * * * ![Sign Up](https://s3.consumersadvocate.org/prd/image/image/40232/medium_cfa5e5b0-4ccd-4dc6-814f-910bb4151eb3.webp) Our Partner [Sign Up](https://money.com/go/39b7b99cabc0?ap_referrer=%2Fbest-banks-and-credit-unions-midwest%2F&bidid=4222654261&pmeta=p129-c561-u43950&ptid=683263805&ptoken=6f520483c602c8c551295d45993ebf7d&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215) **Earn 4.25% APY\* for 6 months with $5k min. balance when you open a Platinum Savings Account** - $5,000 min. balance to earn top APY - $100 minimum deposit to open an account - No account opening or monthly service fees - Member FDIC \*Boosted rate for 6 months; 3.75% APY after. \*Enter promo code BOOST50 for APY bonus. Rate as of 9/29/2026. **\[AFFILIATE LINK: View CIT Bank Offer\]** * * * ![Sign Up](https://s3.consumersadvocate.org/prd/image/image/40546/medium_c4df0da9-32d5-4f39-9172-e02e18571a8d.webp) Our Partner [Sign Up](https://money.com/go/71712dd7aaf1?ap_referrer=%2Fbest-banks-and-credit-unions-midwest%2F&bidid=4222654262&pmeta=p129-c561-u43950&ptid=683263805&ptoken=4483e9905f3e0eb9fdae319287b0933a&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215) **Earn Up to 4.35% APY (inclusive of 0.35% APY Boost)\*\*** - $500 minimum opening deposit - Keep more of your money with no fees - Trusted device security with quick face or fingerprint login - Member FDIC, Santander Bank, N.A. Rates as of 10/14/2026 \*\*New Customers only. Terms Apply. Santander Bank, N.A. Member FDIC. The APY Boost will apply for (6) months from the date the account is opened. **\[AFFILIATE LINK: View Openbank Offer\]** ​​ ## Key Takeaways - Money chose Chase as the best overall bank in the Midwest region. Chase is recognized for its local branches and ATM network, along with its powerful digital tools, diverse checking options (including student and teen accounts) and a high JD Power customer satisfaction rankings. - Other winners were noted for their target rates and specific services. U.S. Bank was recognized for its high-yield savings and Smartly Checking account, FNBO for its fee-free checking options, Arvest Bank for top CD yields and BMO for money market accounts. - Money's evaluation process focuses on banks' and credit unions' regional footprints and yields. The 2027 Midwest rankings evaluated major regional and community financial institutions based on asset size, branch and ATM networks, monthly fee structures and interest rates beating traditional market baselines. Regional banks and credit unions have smaller service areas than national ones, but they tend to offer a comprehensive range of banking products. In fact, because of their smaller size, they can often offer higher annual percentage yields (APYs) than big national chains while still providing in-person services that online banks lack. To identify the best banks and credit unions of the Midwest, Money looked at the largest regional and community financial institutions based on their consolidated assets and evaluated their account options, fees and rates. Here are our choices for the best banks and credit unions in the Midwest for 2026: - **[Chase](#chase):** Best Overall - **[U.S. Bank](#usb):** Best for Savings Accounts - **[FNBO](#fnbo):** Best for Checking Accounts - **[Arvest Bank](#arvest):** Best for CDs - **[BMO](#bmo):** Best for Money Market Accounts *\*Rates and APYs are subject to change. All information provided was accurate as of Oct. 9, 2026.* ## Open a High-Yield Savings Account today and start earning interest ### Take advantage of an FDIC insured, High-Yield Savings Account from SoFi®. Click on your state and find out more. [SEE OFFER](https://money.com/pr/b6d40efa5682?ap_referrer=%2Fbest-banks-and-credit-unions-midwest%2F) ## Best Overall: Chase ![](https://s3.consumersadvocate.org/prd/image/image/40459/large_31853ecb-e791-49bb-be96-bb2f04daa90d.webp) [SEE OFFER](https://money.com/pr/m6ff52c3c7b6?ap_referrer=%2Fbest-banks-and-credit-unions-midwest%2F&url=) If you like the convenience of physical branches and local ATMs but still want the option of banking online or via a mobile app, [Chase](https://money.com/pr/i7be8f252370?data-trk-company=chase-savings-accounts-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=i7be8f252370&encoded_id=) may be a good fit for you. Chase has an enormous branch and ATM network, and it also has powerful online banking tools. Chase offers several checking accounts, including ones specifically designed for kids and teens that can help instill good money management skills at a young age. Additionally, the bank has a strong reputation for customer service. JD Power ranked Chase among the top banks for customer satisfaction in its U.S. Retail Banking Satisfaction Study. **Pros** - Among the highest customer satisfaction rankings in JD Power’s Midwest study - Expansive network of branches and fee-free ATMs - Multiple checking and savings account options **Cons** - Monthly fees on most deposit accounts - Low APYs on savings accounts - No rewards or added perks ## Best for Savings Accounts: U.S. Bank ![](https://s3.consumersadvocate.org/prd/image/image/40501/large_0b2bb538-7a0b-45b9-9b15-7b69f2e544a9.webp) [SEE OFFER](https://money.com/pr/sd931e2cd53f?ap_referrer=%2Fbest-banks-and-credit-unions-midwest%2F&url=) [U.S. Bank](https://money.com/pr/c1c6ac6c2338?data-trk-company=us-bank-savings-accounts&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=c1c6ac6c2338&encoded_id=) is primarily available in the Midwest but operates branches in 28 states. The U.S. Bank Smartly savings account can be opened with as little as $25. If you're an existing U.S. Bank customer or open a checking account, you can earn a significantly higher APY. Depending on your combined account balance, you could earn anywhere from 0.001% to 3.5%. The U.S. Bank Smartly Savings account pairs well with the Bank Smartly Checking account, which also has a low $25 minimum deposit requirement, and the combination will give you access to perks like higher APYs, loan discounts and cash back deals on select purchases. **Pros** - Potential for higher-than-average APYs - Extensive ATM and branch access - Low initial deposit requirement **Cons** - Mixed customer satisfaction ratings - Monthly fee applies - Limited CD terms ## Best for Checking Accounts: FNBO ![](https://s3.consumersadvocate.org/prd/image/image/40825/large_de019917-12fd-4156-8d55-79787c82057e.webp) [SEE OFFER](https://money.com/pr/z8705fcaab97?ap_referrer=%2Fbest-banks-and-credit-unions-midwest%2F&url=) [FNBO](https://money.com/pr/z441ff6ef414?data-trk-company=fnbo-savings-accounts-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=z441ff6ef414&encoded_id=) is available in eight states in the Midwest, so you have the option of banking online, via its mobile app or by visiting a brick-and-mortar branch. But what makes the bank stand out from its competition is its three checking account options. FNBO's free checking account has no monthly fees or minimum balance requirements. But FNBO also offers Premier Checking, an interest-bearing checking account, as well as its Access Debit account, which doesn't have overdraft fees, minimum deposit requirements or and minimum balance requirements. As an FNBO customer, you have access to powerful online and mobile banking tools. With the FNBO platform, you can pay your bills all from one place, send money via Zelle and receive account alerts. **Pros** - Multiple checking account options - Free checking and interest-bearing checking accounts - Powerful online and mobile banking tools **Cons** - No money market accounts - Monthly fees on some accounts - Low APYs on savings accounts ## Best for CDs: Arvest Bank ![](https://s3.consumersadvocate.org/prd/image/image/40826/large_1aa9fe35-39bc-4d86-aca7-9cda64128167.webp) [SEE OFFER](https://money.com/pr/zafa255a8d97?ap_referrer=%2Fbest-banks-and-credit-unions-midwest%2F&url=) CDs can be a great way to lock in a guaranteed interest rate for the short, medium or long term, and those offered by [Arvest Bank](https://money.com/pr/y3161590f538?data-trk-company=arvest-bank-savings-accounts-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=y3161590f538&encoded_id=) boast higher-than-average APYs. With Arvest Bank, you can open a CD and earn an APY of up to 4.05%, which is among the highest in the region. You need at least $1,000 to open a CD, and terms range between 31 days and five years. While Arvest Bank only has physical branches in four states, the bank is highly-rated for customer satisfaction in the JD Power Retail Banking Satisfaction Study for the Midwest region. **Pros** - Highly ranked in customer satisfaction in JD Power study - Significantly higher-than-average APYs on CDs - Higher-than-average money market APYs **Cons** - Must open a CD over the phone or at a branch - Limited branch locations in four states - Limited CD terms ## Best for Money Market Accounts: BMO ![](https://s3.consumersadvocate.org/prd/image/image/27221/large_76542624-019d-4108-a323-6063273cd535.png) [SEE OFFER](https://money.com/pr/t240b7d09f08?ap_referrer=%2Fbest-banks-and-credit-unions-midwest%2F&url=) [BMO](https://money.com/pr/p435d4a99995?data-trk-company=bmo-savings-builder-review&data-trk-imp=true&data-trk-pcu-type=direct_link&data-trk-pcu-uuid=p435d4a99995&encoded_id=) is a traditional bank that operates brick-and-mortar branches in many states, including in the Midwest. Its money market accounts are also available nationwide as part of BMO's digital banking initiatives, and its accounts earn a higher-than-average APYs. The bank's money market accounts have a low minimum deposit requirement of $25. The account does have a monthly fee, but you may be eligible for a fee waiver if you maintain an account balance of $5,000. BMO also offers CDs with terms ranging from three months to five years, though the APYs are slightly below average. **Pros** - Significantly higher-than-average APYs on money market accounts - Low initial deposit requirement - Expansive branch and ATM networks **Cons** - Lower-than-average APYs on savings accounts - Monthly fees on most accounts - Excess withdrawal fees on money market accounts apply ### Up to 2-day-early paycheck ![View Rates](https://s3.consumersadvocate.org/prd/image/image/19227/medium_5c3a0d96-3da5-45d8-8e99-d58f043e9433.png) Our Partner [View Rates](https://money.com/go/a21785949ade?ap_referrer=%2Fbest-banks-and-credit-unions-midwest%2F&bidid=4222654278&pmeta=p129-c561-u39720&ptid=683263808&ptoken=2b3224701059fb72b81b35b12cf9c1c2&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215) ### Open an account in 5 minutes ![View Rates](https://s3.consumersadvocate.org/prd/image/image/40232/medium_cfa5e5b0-4ccd-4dc6-814f-910bb4151eb3.webp) Our Partner [View Rates](https://money.com/go/e9d019041173?ap_referrer=%2Fbest-banks-and-credit-unions-midwest%2F&bidid=4222654280&pmeta=p129-c561-u39720&ptid=683263808&ptoken=c7819554895e0b07a740c73e470b5709&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215) ### $500 minimum opening deposit ![View Rates](https://s3.consumersadvocate.org/prd/image/image/40546/medium_c4df0da9-32d5-4f39-9172-e02e18571a8d.webp) Our Partner [View Rates](https://money.com/go/0b05054e10dd?ap_referrer=%2Fbest-banks-and-credit-unions-midwest%2F&bidid=4222654282&pmeta=p129-c561-u39720&ptid=683263808&ptoken=a98f1c04e8b616de82ad20122005938d&ua=Mozilla%2F5.0+AppleWebKit%2F537.36+%28KHTML%2C+like+Gecko%3B+compatible%3B+ClaudeBot%2F1.0%3B+%2Bclaudebot%40anthropic.com%29&zip=43215) ## FAQs ### What is a regional bank, and how does it differ from a national or online bank? A regional bank operates within a specific geographic area or multi-state region, sitting in the sweet spot between small community banks and massive national institutions. Unlike national banks, which maintain thousands of branches across the country, regional banks focus their resources locally. Unlike online banks, which have lower overhead due to no physical locations, regional banks offer full-service physical branches alongside modern digital platforms. ### Why would I choose a regional bank over an online bank with higher interest rates or a national bank with branches across the country? Regional banks offer a balance of personalized service and competitive terms. Compared to national banks, regional banks feature localized underwriting, lower average account fees and bank officers who understand regional economic conditions. Compared to online banks, regional banks provide physical locations for cash deposits, notary services and face-to-face banking services, while still providing access to competitive APYs and modern mobile apps. ### Are my deposits as safe at a regional bank as they are at a giant national bank? Yes, your deposits are just as safe in a regional bank as they are in a national bank. Reputable regional banks are insured by the Federal Deposit Insurance Corporation (FDIC) up to $250,000 per depositor, per ownership category. ## How we chose the best banks and credit unions of the Midwest To determine our list of the best banks and credit unions in the Midwest, Money analyzed at regional and community banks with a presence in the core states (Iowa, Kansas, Minnesota, Missouri, Nebraska, North Dakota, Oklahoma, South Dakota and Wisconsin). We then compared the banks' financial products and services, minimum deposit requirements, monthly fees and interest rates. For the best banks and credit unions in the Midwest, we also considered their rankings in the JD Power Direct Banking Satisfaction Study for the lower Midwest and upper Midwest regions. We prioritized banks that offer higher-than-average APYs and lower fees than available through traditional banks. AI was not used in the sourcing of Best Banks data, the analysis of that data or the content subsequently produced by Money's editorial team. You can [read our full methodology here](https://money.com/best-banks/methodology/). ```json { "@context": "https://schema.org", "@graph": [ { "@type": "BreadcrumbList", "@id": "https://money.com/best-banks-and-credit-unions-midwest/#breadcrumb", "itemListElement": [ { "@type": "ListItem", "position": 1, "name": "Home", "item": "https://money.com" }, { "@type": "ListItem", "position": 2, "name": "Banking", "item": "https://money.com/banking/" }, { "@type": "ListItem", "position": 3, "name": "Banks", "item": "https://money.com/banks/" }, { "@type": "ListItem", "position": 4, "name": "Best Banks and Credit Unions of the Midwest for 2027" } ] }, { "@type": "WebSite", "@id": "https://money.com/#website", "url": "https://money.com", "name": "Money", "publisher": { "@id": "https://money.com/#organization" } }, { "@type": "WebPage", "@id": "https://money.com/best-banks-and-credit-unions-midwest/#webpage", "url": "https://money.com/best-banks-and-credit-unions-midwest/", "name": "Best Banks and Credit Unions of the Midwest for 2027", "isPartOf": { "@id": "https://money.com/#website" }, "datePublished": "2026-10-14T14:54:57.000Z", "mainEntity": { "@id": "https://money.com/best-banks-and-credit-unions-midwest/" }, "inLanguage": "en-US", "breadcrumb": { "@id": "https://money.com/best-banks-and-credit-unions-midwest/#breadcrumb" }, "dateModified": "2026-10-14T17:47:43.000Z" }, { "@type": "Article", "headline": "Best Banks and Credit Unions of the Midwest for 2027", "articleSection": "Banking", "image": [ { "@type": "ImageObject", "url": "https://img.money.com/2024/09/Best-Banks-2024-Ranking-States-Midwest-mbci_9st04__8ot54y.jpg?quality=85", "width": 2880, "height": 1920 } ], "author": [ { "@type": "Person", "name": "Kat Tretina", "url": "https://money.com/author/kat-tretina/", "@id": "https://money.com/author/kat-tretina/#author", "image": "https://img.money.com/2022/01/a_kat-tretina.jpg?quality=85&w=400&h=440&crop=1", "alumniOf": "B.A in English and Communications from Elizabethtown College, M.A. in Communications from West Chester University" } ], "publisher": "https://money.com/#organization", "datePublished": "2026-10-14T14:54:57.000Z", "description": "Money looked at dozens of financial institutions to find the 2027 best banks and credit unions of the Midwest.", "abstract": "Money looked at dozens of financial institutions to find the 2027 best banks and credit unions of the Midwest.", "@id": "https://money.com/best-banks-and-credit-unions-midwest/", "inLanguage": "en-US", "dateModified": "2026-10-14T17:47:43.000Z", "editor": [ { "@type": "Person", "name": "Jordan Chussler", "url": "https://money.com/author/jordan-chussler/", "@id": "https://money.com/author/jordan-chussler/#author", "description": "Jordan is an investment editor who specializes in topics ranging from traditional equities, retirement savings and income investing to alternative assets and commodities, specifically focusing on gold and other precious metals. 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