Best Banks and Credit Unions in Missouri

There are nearly 200 financial institutions regulated by the Missouri Division of Finances. With so many options, it can be difficult to select the right one.

To help you, Money researched the leading annual percentage yields (APYs), account types, minimum deposit requirements and fees to identify the best banks and credit unions in Missouri for 2024-2025:

• Bank of Missouri - Best Overall
• Belgrade State Bank - Best for Savings Accounts
• Capital One - Best for Checking Accounts
• Ozarks Federal Savings - Best for Students
• People's Banks - Best for Special Accounts

*Rates and APYs are subject to change. All information provided was accurate as of Oct. 8, 2024.

The Bank of Missouri operates 28 branches within the state, and it's a top bank for both personal and business customers. It offers multiple account options with low fees and higher-than-average APYs. The Bank of Missouri has some unique checking account options. You can open an account without monthly fees with as little as $100. Additionally, you can earn rewards in the form of cash back or in digital credits you can redeem for Amazon or iTunes gift cards. The bank also offers CDs with higher-than-average APY.

However, it doesn't have money market accounts, so customers looking for those accounts will have to choose another bank. Lastly, not all of its accounts can be opened online; with some, you'll have to open an account by visiting a branch.

Belgrade State Bank has multiple savings accounts, including special accounts for saving for Christmas and children. These accounts have low minimum deposit requirements, making it easy to start saving. Although Belgrade State Bank does charge monthly fees on some of its savings accounts, it does offer fee waivers. The requirements to qualify for a waiver are attainable; you can qualify by maintaining a balance of $50.

Belgrade State Bank doesn't offer money market accounts. And if you're planning on opening a savings account, be aware that Belgrade has limits on how many withdrawals you make each month. If you make more than six withdrawals per month, you'll have to pay an excess withdrawal fee for each additional transaction.

With Capital One, you can open a new checking account without worrying about minimum deposit requirements or monthly fees. These accounts make it easy to receive direct deposits, send money via Zelle and manage your money online. Besides its core checking account, Capital One also has a checking account option for teens. The account has no monthly fees and, through the mobile app, it gives parents control over the teen's access to the account.

Unfortunately, Capital One doesn't operate physical branches, so those who prefer in-person banking will need to find another bank.

Ozarks Federal Savings is a community bank serving counties in Missouri. It features several youth accounts and special incentives, like Oz's Clubhouse, a program that rewards kids with special toys and even cash deposits as they save. With the student program, kids can earn cash rewards for good grades.

Ozarks Federal Savings operates just a few locations within the state, so you may not have a branch near you. Additionally, its APYs on savings accounts tend to be below the national average.

People's Bank offers specialty accounts in Missouri, such as special account options for teachers, youth accounts, holiday savings accounts and interest-bearing checking accounts for seniors. You can open checking and savings accounts without monthly fees. The bank also offers perks like discounts on loans, free safe deposit boxes and checks.

However, People's Bank doesn't publish its rates online, and it operates only a few physical branches within the state.

How we chose the Best Banks of 2024-2025

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

We selected the best banks in Missouri by evaluating the leading banks and comparing their accounts, deposit requirements, fees and rates and customer satisfaction ratings. We also looked at the availability of branches, and bank ATM networks.

You can read our full methodology here.

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