Did you know the median bank account balance in 2019 was $5,300? If you’re banking in Colorado and living in Denver, that might cover two or three months' rent.
Living in the Mile-High City isn’t cheap, but the good news is that plenty of banks are accessible and ready to work with you to increase your financial stability. These banks are the subject of our discussion today.
Our list of Colorado's best banks includes many you’re probably familiar with. While some of these banks are specific to Colorado, others can be found across the country or online.
Whether you’re a Colorado native or a transplant, the banks on our list below offer welcome bonuses and perks to all customers. You may even find that some offer second-chance bank accounts if that’s what you need.
Are you ready to learn more about the best banks in Colorado? Let’s get started!
13 Best Banks in Colorado
You may recognize a few of the best national banks on this list, but most of the banks below are regional or community banks. Because of their locale, they offer Coloradoans some of the best bank account bonuses, whether that’s welcome offers or year-round perks.
1. KeyBank
Based out of Cleveland, Ohio, KeyBank hosts 50 locations in Colorado and remains one of the state’s largest regional banks. KeyBank is also an Equal Housing Lender (NMLS #: 399797) with several superior loan options.
If you open a Key Smart Checking® account, you can avoid overdraft fees in several ways. You can set up mobile alerts to help you stay mindful of your account balance or link your savings account to make free transfers to cover overdrafts.
KeyBank also has a user-friendly mobile app that allows you to check your account balance. If you’re banking in Colorado and need a new bank account, check out KeyBank.
Key Smart Checking® from KeyBank offers no monthly fees or minimum balance requirements, making it affordable. It provides convenient online and mobile banking features, including mobile check deposit and contactless payments. With a large network of ATMs and overdraft protection options, it's ideal for tech-savvy and budget-conscious users.
2. Chase
Chase Bank is a solid option for anyone in Colorado looking for convenient banking with great perks. With over 70 locations in Denver and more than 100 across the state, you’ll have no trouble finding a branch or ATM nearby.
Chase also offers bonus opportunities, like $300 when you open a Chase Total Checking® account and set up direct deposit, or $100 for opening a Chase Secure Banking℠ account with direct deposit.
In addition to its checking accounts, Chase provides a variety of services to meet your financial needs, including savings accounts, credit cards, and loans for homes or cars. Families can also benefit from specialized accounts for kids and students.
Their mobile app is easy to use and includes helpful features like Zelle for quick money transfers, making Chase a practical and reliable choice for banking in Colorado.
- Essential checking account with convenient access.
- Earn a $300 bonus with $500+ in direct deposits.
- $12 monthly fee, waived with qualifying activities.
- Access to 15,000+ ATMs and 4,700+ branches.
- Includes Chase Overdraft Assist℠ for added protection.
3. CIT Bank
CIT Bank is a great choice for those who want to grow their savings with a trusted online institution. As part of First Citizens Bank, CIT offers competitive interest rates and user-friendly online tools that make managing your money simple.
The Savings Connect account is one of its standout options, featuring a high-yield APY and no monthly maintenance fees. This account is perfect for anyone looking to maximize their savings without extra costs. Plus, CIT’s intuitive mobile app makes it easy to deposit funds and track your progress on the go.
With its focus on high returns and convenience, CIT Bank’s Savings Connect account is a smart choice for building your financial future.
Savings Connect from CIT Bank is a great choice for people who want to save money. It has a high APY and you only need $100 to start and earn that rate. This makes it really good for anyone looking to grow their savings. Plus, there are no monthly fees with this account, so you won't have extra costs to worry about.
CIT Bank also offers its CIT Money Market Account, where you can experience a convenient and secure all-digital way to grow and access your money. Plus, earn a competitive interest rate and easily pay people and bills, with no monthly fees.
4. U.S. Bank
U.S. Bank is an excellent option for business owners in Colorado who want to streamline their finances by pairing business and personal banking. With over 100 locations in the state—more than half in Denver—and a network of 2,000 branches and 5,000 ATMs nationwide, U.S. Bank offers unmatched convenience for managing both sides of your financial life.
Right now, business owners can earn up to $900 by opening a U.S. Bank Business Checking account, making it a great time to upgrade your banking. For added ease, U.S. Bank allows you to manage business and personal accounts under one platform with seamless online and mobile banking.
Opening an account requires just $25, and monthly fees can be waived by meeting simple criteria like maintaining a minimum balance. Alongside checking accounts, U.S. Bank offers financial products like credit cards and money market accounts, providing a comprehensive solution for business owners who want everything in one place.
Keep your business finances on track with U.S. Business Checking! Enjoy 24/7 online access, easy transfers, and tools for managing expenses. Simplify banking for your growing business today. To earn up to $900, open a U.S. Bank Business Checking account using the promo code Q4AFL24 and complete qualifying activities.
5. Ally Bank
Did you know that Ally Bank is one of many online-only banks that let you overdraft? Though avoiding overdrafting your account is wise, covering emergency expenses in a pinch can help ease your stress.
Ally Bank also offers superior checking and savings accounts. For example, the Interest Checking Account does just that by earning interest on your balances.
You can also open a savings account and earn a high annual percentage yield (APY) rate. Neither account requires you to maintain a minimum deposit or pay monthly fees.
Ally Bank also partners with the Allpoint ATM network, which hosts over 55,000 ATMs nationwide. If you have to use an ATM outside this network, Ally reimburses you up to $10 in ATM fees each statement cycle.
You can access your Ally Bank account online or through the mobile app. You can access services such as online account statements, Zelle peer-to-peer transfers, mobile check deposits, and an ATM locator.
6. Alpine Bank
Headquartered in Glenwood Springs, Alpine Bank has almost 40 branches in Colorado. Alpine is most known for its land loans but offers some of the best checking accounts.
You can open a Liberty or Elite checking account and a Saver’s Choice Money Market account with Alpine Bank. This bank is also part of the Allpoint network of ATMs, which includes over 40,000 ATMs across the country.
If it’s business accounts you’re looking for, Alpine offers business loans, credit cards, and lines of credit up to $50,000. Alpine Bank also deals in Small Business Administration (SBA) and commercial property loans.
7. Bank of Colorado
Bank of Colorado was founded in 1938 and is headquartered in Fort Collins. This bank hosts over 40 locations across the state and operates in eight other states.
With Bank of Colorado, you can open a free checking account with a minimum balance or monthly fees. However, the savings account APY rates can’t compete with those offered by online-only banks.
Bank of Colorado also deals in business banking and loans for home, auto, and personal use. Students can choose between the Growth, Diamond Secure, and Interest Checking accounts for various perks.
8. FirstBank
Besides Wells Fargo, FirstBank is one of the largest banks in the U.S. It’s also one of the best regional banks in Colorado.
FirstBank was founded in Lakewood, Colorado, in 1963. It offers in-person, mobile, and online banking in Colorado, California, and Arizona.
Choose from 12 different accounts to open at FirstBank, from savings and checking accounts to CDs and business accounts.
The Bloom Package is popular among FirstBank members. This package integrates your checking and savings accounts and allows you to fund your savings with up to $99.99 per swipe of your Visa debit card.
Most FirstBank accounts don’t require a minimum balance or monthly maintenance fees. Minimum opening deposits are low as well.
FirstBank hosts 13 locations in Denver, with various ATMs available throughout the state. If you’re banking in Colorado, it pays to check out FirstBank and everything it offers.
9. High Country Bank
Headquartered in Salida, High Country Bank owns five branches in Colorado. Though it’s one of the smallest banks on our list, this bank doesn’t skimp on financial products and services.
Choose from several free or low-cost checking and savings accounts, credit cards, real estate loans, and CDs. High Country Bank also specializes in vacant land loans, which Colorado residents often seek.
If you own a business, High Country Bank offers commercial checking and savings accounts, real estate loans, commercial lines of credit, and equipment loans. This bank is also active in the community and serves local organizations.
10. NuVista Federal Credit Union
To qualify for membership, NuVista Federal Credit Union requires that you live or work in one of the following counties:
- Montrose
- Delta
- Gunnison
- Ouray
- San Miguel
NuVista Federal Credit Union is a community development financial institution (CDFI) with two branches in Colorado. It is a mission-driven credit union that seeks to serve Colorado residents in the communities in which it operates.
You’ll find several checking and savings accounts at this Colorado credit union, including a second-chance bank account. The Share Savings account is also a good option because you only need $25 to fund it, and there are no monthly fees to worry about.
11. Premier Members Credit Union
Join this credit union, and you can take advantage of some of the state's best money market accounts and CDs. You can earn a superior APY on money market balances under $2,000. Premier Members Credit Union also offers a Share Certificate (a credit union’s version of a CD) that’s only $500.
If you live or work in several large counties in Colorado, you can qualify for membership. Premier Members Credit Union will also accept you as a member if you join Impact on Education, a Boulder Valley School District charity.
12. Wells Fargo
Wells Fargo is one of several banks that don’t require Social Security numbers to open an account. While that might not be an issue for Colorado residents, it’s nice to know that Wells Fargo offers this perk.
Many small business owners in Colorado love working with Wells Fargo because it’s an SBA lender and also offers its own set of small business loans, accounts, and services. You can open a business bank account, obtain a business loan, and contract merchant services, all under Wells Fargo’s roof.
You can easily waive any monthly fees with the Wells Fargo Initiate Business Checking account.
13. First Citizens Bank
First Citizens Bank is headquartered in North Carolina but operates six branches in Colorado. It serves the greater Denver area with several financial products and services.
You can open several checking and savings accounts with First Citizens Bank. This family-owned bank's free checking account is an excellent option for managing your money.
First Citizens Bank also offers credit cards, loans, insurance, investment, retirement, and mortgages. Check out First Citizens Bank to see how you can bank better in Colorado.
FAQs
FirstBank is the largest locally-owned bank in Colorado. You’ll find over 100 locations within the state.
Bank of Colorado, CIT Bank, and Ally Bank offer free checking accounts. Many other banks on our list offer checking accounts with waivable fees.
The best credit unions in Colorado include Ent, the largest credit union in the state. Other credit unions in Colorado include Elevations Credit Union, Navy Federal Credit Union, Denver Fire Department Federal Credit Union, and San Juan Mountains Credit Union.
Banking in the Rocky Mountains with the Best Banks in Colorado
Colorado has a lot to offer residents and travelers alike. With the best banks in Colorado, you can set aside your financial worries and focus on the awe-inspiring landscapes instead.
We hope you’ve found this article helpful in finding the best banks in Colorado to help you build your financial future. Banking in Colorado might not look that different from banking in other states, but it’s nice to know that you can use local banks to help you achieve your dreams.
Which of the best banks in Colorado will you work with?
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