Best Banks and Credit Unions in North Carolina
The Tar Heel State has experienced rapid growth in recent years. In fact, the U.S. Census Bureau reported that North Carolina's population grew by over 140,000 people in 2023, one of the highest growth rates in the country. With that growth comes additional banking needs for residents. Fortunately, there are over 150 credit unions and banks operating in the state.
To help you find the best option, Money researched the leading financial institutions' account offerings, annual percentage yields (APYs), rates and fees to identify the best banks and credit unions in North Carolina for 2024-2025:
- Synchrony - Best Overall
- Bank of America - Best for CDs
- First Citizens - Best for Digital Banking
- PNC - Best for Checking Accounts
- State Employees Credit Union - Best for Customer Satisfaction
*Rates and APYs are subject to change. All information provided was accurate as of Oct. 8, 2024.
Synchrony Bank has a strong presence in North Carolina; although the company's corporate headquarters is in Connecticut, it has a large office in Charlotte, and its accounts are available to customers online. Synchrony offers savings accounts, money market accounts and certificates of deposit (CDs) with higher-than-average APYs. For those looking to maximize their savings, the bank's deposit accounts offer significantly higher-than-average APYs, with no minimum balance requirements or monthly fees.
However, Synchrony is a digital bank, so there aren't any physical locations. Also, Synchrony doesn't offer checking accounts, so you'll need another option for an account to pay your bills and withdrawal cash.
- High APYs on CDs and money market accounts
- High-yield savings without a monthly fee
- No minimum balance requirements
- Doesn't offer checking accounts
- Limited CD terms
- No physical branches
With Bank of America, you can open a CD, and your money can earn a much higher-than-usual APY on your account. Compared to some banks, which require a minimum deposit of $2,500 or more, Bank of America has a relatively low minimum deposit requirement. Its headquarters are in Charlotte, a city which referred to as the banking capital of the South, and there are about 70 branches across the state, so you likely have a branch near you if you need to ask questions or want personalized assistance.
However, most of Bank of America's checking and savings accounts have monthly fees, and its savings accounts have lower APYs than you'll find elsewhere. Additionally, Bank of America has less-than-stellar customer satisfaction ratings. It was ranked seventh out of nine major banks in the J.D. Power U.S. National Banking Satisfaction Study.
- Higher-than-average APYs on CDs
- Relatively low minimum deposit requirement
- Widespread branch access
- Comparatively lower APYs on savings accounts
- Monthly maintenance fees apply
- Lower ratings for customer satisfaction
With First Citizens Bank, you can use its mobile app or digital banking platform to manage all of your bank accounts in one place. You can deposit checks, pay bills, transfer money or send money to friends via Zelle. Although First Citizens Bank has powerful digital tools available, it also operates over 250 locations in North Carolina, so it's a convenient choice for those who prefer to handle their banking in person.
Despite those perks, there are some drawbacks. The bank tends to have lower-than-usual APYs on savings accounts, money market accounts and CDs, and its money market accounts have monthly fees.
- Multiple checking account options
- Robust digital banking tools
- Hundreds of branch locations
- Lower-than-average APY on savings and CDs
- Monthly fees on money market accounts
With PNC's Virtual Wallet, you can choose a checking account type that matches your needs. It has three options, but all three are interest-bearing accounts. Existing customers can qualify for special rate boosts. PNC has over 100 branches in North Carolina, and you can earn higher-than-usual APYs on select CD terms, locking in a rate for months at a time.
However, PNC's checking, savings and money market accounts do charge monthly fees. Additionally, its savings accounts offer relatively low APYs.
- Interest-bearing checking accounts available
- Existing customers can qualify for special rates
- Higher-than-usual APYs on some CD terms
- Charges monthly fees
- Fairly low APY on savings accounts
As a credit union, the State Employees' Credit Union (SECU) is focused on solutions for its members. It has a variety of account options, including special holiday savings accounts, accounts for kids and teens and summer cash accounts for teachers. Plus, it has many online and mobile banking tools, making it easy to manage your money or reach customer support when you need to do it. SECU has hundreds of branches in North Carolina, and customers have access to a broad network of ATMs through the CashPoints ATM network.
Be mindful, though, that not everyone is eligible for membership to the credit union, and it does have lower-than-average rates on savings accounts.
- Specialty accounts available
- Interest-bearing checking accounts
- Low fees
- Membership not open to everyone
- Lower-than-usual APYs on savings accounts
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.
To select the best banks and credit unions in North Carolina, we researched the largest banks and credit unions operating in the state. We looked at what types of accounts they offer, their minimum deposit requirements, fees and APYs. We also considered other factors, such as branch and ATM access, and digital banking tools.
You can read our full methodology here.