Best Banks and Credit Unions for Seniors for 2026

As you enter your golden years, you need a bank that meets your specific needs. Your priorities change over time, so it’s important to look for a financial institution that can help you make the most of your money at any stage of life.

To help you find the right bank for older Americans, Money researched over 50 banks and credit unions. Based on their offerings, annual percentage yields (APYs), fees and customer service, here are our choices for the Best Banks and Credit Unions for Seniors for 2026:

• Regions – Best Overall
• Axos – Best Rewards
• Lake Michigan Credit Union – Best for Checking
• FitnessBank – Best for Savings
• KeyBank – Best for High Balances
• First Federal Bank – Best for Fee Waivers
• Bank of America – Best for Financial Care

*Rates and APYS are subject to change. All information provided here is accurate as of Oct. 14, 2025.

Regions takes the top spot on Money's list of best banks and credit unions for seniors. The bank's LiefGreen checking, which is available to customers ages 62 and older, provides unlimited check writing, the option to open an accompanying LifeGreen savings account with no monthly fees and the opportunity to earn an annual savings bonus. Additionally, account holders are eligible for discounts on loans and safe deposit boxes.

The bank's senior checking accounts carry a $50 minimum balance requirement as well as an $11 per month maintenance fee. However, those fees can be waived if customers execute a monthly direct deposit transaction of at least $500 or if they maintain an average monthly balance of $1,500. While the bank does charge overdraft fees, you might be eligible for Overdraft Grace, a perk that gives you extra time to deposit or transfer money to cover those shortfalls. Be mindful that the bank only operates in 16 states.

Axos offers its Golden Checking accounts features zero maintenance fees, no opening balance requirement and complimentary personal checks. Customers ages 55 and older are eligible. That account currently offers an APY of 0.10%, and Axos has a network of 91,000 ATM locations. But if you're unable to find one of those locations, the bank provides up to $8 per month in domestic ATM reimbursements.

Axos has a stellar reputation, receiving a Trustpilot rating of 3.9 stars out of a possible 5. However, as an online financial institution, you should be comfortable with mobile banking platforms. That said, Axos has a suite of tools available to customers to make online banking easier.

Lake Michigan Credit Union offers a variety of savings products with competitive yields, including CDs, money market accounts, savings and IRAs. Additionally, they offer the Advantage 50 Checking account designed for people aged 50 and above. The credit union advertises the account as free from top to bottom, with no monthly maintenance or per check charges. There’s no minimum to open the account or to earn interest. The Premier Checking account offers an APY of 4.00% on balances up to $15,000 and 0.40% on balances over $15,000.

You must meet membership requirements to qualify for a Lake Michigan Credit Union account. However, the field of membership is wide. If you don’t meet the requirement of living in certain parts of Michigan or Florida, you can donate to the credit union’s preferred charity to join. Those who prefer banking in person might not like the limited branch locations, but those who don’t mind digital banking can use the tools to bank from anywhere.

FDIC-member institution FitnessBank refers to its customers as "member-athletes," and with good reason, too. By documenting your daily exercise (i.e., swimming, biking, running and walking), you can earn up to 4.45% APY with FitnessBank's senior savings accounts (and 5.25% APY with its senior checking accounts). Those rates are performance-based. Once you have opened an account, you can download the bank's step tracker app and sync it with your activity tracker to start earning better rates.

FitnessBank does have a minimum opening balance requirement of $100 and it charges a $10 monthly maintenance fee; however, that fee can be waived by maintaining a $100 minimum average daily balance. As an online-only bank, it does not operate physical branches. However, FitnessBank is available to residents of all 50 states and provides all of its services via its website and mobile app. Account balances are capped at $250,000.

With KeyBank, seniors can choose from two checking options that both are suitable and offer attractive benefits. With a network of 40,000 fee-free ATMs, online banking as well as nearly 1,000 branches located in 15 states, KeyBank is a strong option for in-person or mobile banking enthusiasts. But where it stands out is its account options for seniors. The bank's Key Smart Checking accounts has no monthly maintenance fees and no minimum balance requirements; however, that account is not interest-bearing.

On the other hand, KeyBank's Key Select Checking is interest-bearing and allows customers to earn an annual $100 cash bonus with qualifying direct deposits. That account compounds interest daily and carries a $25 per month maintenance fee. However, that fee can be waived by maintaining a balance of $15,000 among all of your KeyBank accounts, or by having at least $3,000 in eligible direct deposits during each statement cycle.

First Federal Bank's Essential Seniors checking account is a great option for customers ages 55 and up. The account carries a $50 minimum opening deposit and a $6 per month maintenance fee. However, that monthly fee can be waived by maintaining a daily balance of $1,000 (which saves customers $4 per month), and by opting for an e-statement instead of a paper statement (which saves customers $2 per month).

One downside to banking with First Federal Bank is its geographic restrictions. Branch locations are limited to Florida and South Carolina, and beyond the bank's CDs, its other products are unavailable outside of its service areas. While those CDs start at a $1,000 minimum, the bank offers higher rates on higher balances.

For the second consecutive year, Bank of America takes Money's top spot as the best bank for financial care. In addition to offering different banking products that seniors might find helpful, Bank of America also provides Financial Care for Older Adults — a suite of educational resources and tools. The bank offers help with setting up beneficiaries for accounts, offers trusts and can even help with power of attorney. Their estate services can help you manage others’ finances if needed.

While Bank of America doesn’t offer specific banking products for seniors, some accounts and services can benefit elders. For example, the bank's Financial Care for Older Adults can direct you to take steps to protect your finances, while its estate services can help caregivers and others with money management as you age. Bank of America is also an ideal financial institution for older Americans as it is available online in all 50 states, while boasting 3,600 branch locations in 39 states. The bank received the highest rank for customer satisfaction with retail banking advice in J.D. Power's 2025 U.S. Retail Banking Advice Satisfaction Study.

How we chose the Best Banks of 2026

To determine our list of best banks for 2026, Money staff evaluated hundreds of the largest retail banks, credit unions, regional banks, state banks and online banks ranked by assets. We then compared opening balance requirements, interest paid, fees and features to determine our top picks.

Money researched dozens of leading financial institutions to identify the best banks and credit unions for seniors 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 that offer special perks that seniors might benefit from, such as discounts on safe deposit boxes, free checks and elder support. We also prioritized banks with broad ATM networks and low fees.

You can read our full methodology here.

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