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Originally Published: Oct 18, 2023
Originally Published: Oct 18, 2023 Last Updated: Oct 26, 2023 3 min read

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Regional banks may have a smaller physical footprint than big national banks, 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.

Here are our picks for the best banks and credit unions in the Midwest for 2023-2024.

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Wintrust’s combination of account variety, low fees and higher-than-usual interest rates paid on savings accounts and certificates of deposit make it our top choice for the best bank overall in the Midwest. Plus, all out-of-network ATM fees are reimbursed.

Pros
  • 0.15% APY on Statement Savings Account
  • 5.35% on 11-month CD
Cons
  • 0% APY on Total Access Checking Account

Bremer Bank is our pick for best customer satisfaction because of its high ranking in the J.D. Power 2023 U.S. Retail Banking Satisfaction Study. Besides great customer service, you’ll also find Bremer is very transparent about its fees and account requirements and pays a higher-than-usual interest rate on its Regular Savings Account.

Pros
  • 0.30% APY on savings
  • Low overdraft and wire transfer fees
Cons
  • Low APYs on CDs and checking accounts

Veridian’s Premium Plus Checking account pays a whopping 5.25% APY on balances up to $20,000 when account requirements are met and 0.15% on higher balances, making this account our top choice for the best rate. There’s no minimum balance requirement and no monthly service fees, plus you’ll get free overdraft protection.

Pros
  • High APY
  • 37,000-ATM network
  • Low fees
Cons
  • 0.01% APY if account requirements are not met

We chose First National Bank of Omaha as the best for low fees because there are no monthly fees on the accounts we considered (Free Checking, Basic Savings and Basic Money Market) and no overdraft protection or transfer set-up fees. Outgoing wire fees are lower than those of other banks we considered.

Pros
  • Very few fees
  • 55,000-ATM network
Cons
  • 0.01%-0.02% APY paid on accounts considered

Our choice for best rewards is Digital Federal Credit Union. Open a DFCUPerks Plus Checking account, and you get free perks, including roadside assistance, mobile phone protection, credit monitoring and identity theft protection. Discounts on prescriptions, travel and restaurants are also part of the deal.

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How we chose the Best Banks of 2023-2024

To determine our list of Best Banks for 2023-2024, Money staff evaluated 235 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. You can read our full methodology here.

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Back to Best Banks of 2023-2024

Best Banks for Seniors of 2023-2024

How to Choose a Regional Bank

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