Colorado has dozens of homegrown banks serving each nook of the state. It additionally hosts a whole bunch of branches operated by regional and nationwide banks, together with most of the largest banks in america.

So in the event you’re on the lookout for a brand new financial institution in Colorado, you’ve got loads of decisions. 

Not that any Colorado financial institution will do, in fact. We’ve made the duty a lot simpler by evaluating the highest banks within the state and narrowing down our checklist of the perfect. You possibly can’t go mistaken with any of the establishments on this lineup — financial institution on it.

The Finest Banks in Colorado

These banks are one of the best FDIC-insured shopper and small-business monetary establishments with operations in Colorado. Many are based mostly in Colorado, and all have bodily branches someplace within the Centennial State.

Finest General: U.S. Financial institution

• Headquarters: Minneapolis, Minnesota
• Variety of Branches in Colorado: 90+
• Areas Served: Statewide

Sure, our choose for finest financial institution in Colorado shouldn’t be actually based mostly in Colorado. However it may as effectively be. With only a few exceptions, U.S. Financial institution has extra department and ATM places than another financial institution within the state. 

Much more necessary in an enormous state like Colorado is how complete its protection is. Whereas the vast majority of U.S. Financial institution branches cluster in Denver and the broader Entrance Vary area, the place most Coloradans reside, U.S. Financial institution has many outposts in additional sparsely populated mountain areas and within the agricultural Western Slope area centered on Grand Junction.

By way of services and products, U.S. Financial institution is second to none. Main promoting factors embody:

Finest Financial institution in Denver: First Residents Financial institution

• Headquarters: Raleigh, North Carolina
• Variety of Branches in Colorado: 6
• Areas Served: Better Denver

First Residents Financial institution isn’t based mostly in Colorado both, and its presence within the state is definitely fairly small. However what presence it does have is laser-focused on Denver and its suburbs. And it {couples} a complete product and repair lineup (together with in depth wealth administration providers) with a status for high-quality service that additionally earned it a spot on our checklist of the finest banks in California.

Put all of it collectively and it’s greater than sufficient to make First Residents our choose for finest financial institution in Denver. 

First Residents’ Denver places embody:

• Denver correct (Cherry Creek neighborhood)
• Denver Know-how Middle (Greenwood Village)
• Westminster (a hundred and twentieth Ave)
• Englewood (Zenith Meridian Drive)
• Boulder (twenty eighth Avenue & Arapahoe)

Finest Financial institution in Colorado Springs: Financial institution of Colorado

• Headquarters: Fort Collins, Colorado
• Variety of Branches in Colorado: 50+
• Areas Served: Statewide

Financial institution of Colorado lives as much as its title. Its geographical protection is second to none amongst homegrown Colorado banks, and although it’s headquartered in Fort Collins, it appears to have a tender spot in its coronary heart for the Colorado Springs group and the tens of hundreds of U.S. service members who name it house. 

You’ll find Financial institution of Colorado branches and ATMs in downtown Colorado Springs (N Tejon Avenue), at UC Well being Memorial Hospital, at Youngsters’s Hospital Colorado, close to the Colorado Springs Airport and Peterson House Drive Base (E Edison Avenue), and close to the U.S. Air Drive Academy (Interquest Parkway).

Like First Residents, Financial institution of Colorado affords full-spectrum deposit and lending service: checking, financial savings, cash markets, CDs, bank cards, actual property loans (together with building loans), auto loans, and extra. Which makes it very enticing for the numerous out-of-state transplants who relocate to Colorado Springs — typically in the middle of army service — and want complete in-state banking to make them really feel at house. 

Finest Financial institution within the Entrance Vary: FirstBank

• Headquarters: Lakewood, Colorado
• Variety of Branches in Colorado: 87
• Areas Served: Entrance Vary, northern mountain communities

FirstBank (typically stylized as 1stBank) has a dense community of branches and ATMs within the populous Entrance Vary area. From Denver to Boulder to Greeley to Fort Collins, you’re by no means various miles from a FirstBank outpost. And in the event you’re among the many many Entrance Rangers who escape to the mountains every time you possibly can, FirstBank has glorious protection in excessive nation communities like Aspen, Vail, Steamboat Springs, and Avon.

Past its complete protection, FirstBank stands out with spectacular yields on financial savings merchandise, particularly CDs. It additionally caters to actual property buyers with quite a lot of much less frequent actual property loans and hands-on service for 1031 exchanges, which may dramatically scale back or eradicate capital positive factors taxes on non-owner-occupied properties.

Finest Group Financial institution: Excessive Nation Financial institution

• Headquarters: Salida, Colorado
• Variety of Branches in Colorado: 5
• Areas Served: Salida, Canon Metropolis, Buena Vista, Longmont

Excessive Nation Financial institution is the smallest Colorado financial institution on this checklist, however its product and repair lineup is spectacular nonetheless. 

Excessive Nation Financial institution’s private banking division affords a number of free or low-cost checking and financial savings choices, taxable and IRA CDs, bank cards, and actual property loans — together with vacant land loans, that are in excessive demand in rural Colorado. Its enterprise banking division affords industrial checking and financial savings accounts, industrial tools loans, industrial actual property loans, and normal industrial strains of credit score.

However what actually units Excessive Nation aside is its involvement within the communities it serves. Most banks donate to charity; Excessive Nation actively includes every department in native organizations that make a distinction and encourages staff to get out and volunteer. Backside line: It’s simple to be ok with doing enterprise with Excessive Nation Financial institution.

Finest Small-Enterprise Financial institution: Alpine Financial institution

• Headquarters: Glenwood Springs, Colorado
• Variety of Branches in Colorado: 39
• Areas Served: Statewide

Alpine Financial institution is one other rural-focused Colorado Financial institution that’s deeply concerned within the communities it serves and in tune with its prospects’ wants (land loans are additionally a sizzling ticket right here).

Alpine Financial institution has extra branches than Excessive Nation Financial institution, masking huge swathes of the Rocky Mountains and Western Slope. It’s extra centered on small-business shoppers as effectively, with an lively enterprise lending division that may accommodate:

• Normal small-business loans with customized compensation phrases — for working capital, tools, facility enhancements, stock, car fleets, and industry-specific wants (resembling medical tools)
• SBA loans 
• Industrial property loans (buy, refinance, or building)
• Enterprise credit score strains as much as $50,000
• Enterprise bank cards with versatile rewards and worker card controls 

So in the event you run a Colorado-based enterprise, or one planning an growth into the Centennial State, make Alpine Financial institution your first name.

Finest for Know-how: Chase Financial institution

• Headquarters: New York, New York
• Variety of Branches in Colorado: 130
• Areas Served: Largely within the Entrance Vary with scattered places within the northern mountains

Chase Financial institution isn’t based mostly in Colorado or anyplace close to it, however it does have over 100 branches throughout the state — greater than another financial institution on this checklist. It additionally has one of the best technological footprint of any financial institution on this checklist (of nearly any financial institution, truly), which suggests these branches are much less and fewer necessary for many prospects’ on a regular basis banking wants.

It’s attainable due to the Chase Cellular app, which allows super-fast cell examine deposit, person-to-person cash transfers (via Zelle), and card administration (together with immediate card locking and unlocking). These capabilities pair with monetary planning and wellness instruments like:

• Funds Planner, a spend monitoring and planning characteristic
• Credit score Journey, which tracks your progress in direction of higher credit score and affords suggestions alongside the best way
• My Chase Plan, a bank card pay-over-time plan with a hard and fast month-to-month price somewhat than curiosity

Will you ever have to set foot in a financial institution department once more in the event you financial institution with Chase? By no means say by no means. However you received’t must drop by each week, that’s for positive.

Methodology: How We Choose the Finest Banks in Colorado

We take into account six key components when choosing the right banks in a selected state. For Colorado, we pay explicit consideration to expertise, geographical protection, entry, customer support and satisfaction, product availability, and charges.

Buyer Service and Satisfaction

Newsflash: It’s best to like your financial institution. Perhaps not like it, however you definitely shouldn’t dread strolling right into a department or calling customer support. So we give desire to banks with excessive buyer satisfaction scores and strong customer support groups that function in department, on-line, and in native name facilities.

Know-how and Accessibility

Mountainous Colorado is legendary for harsh winter climate that renders complete swathes of the state inaccessible for days or perhaps weeks at a time. Longtime Coloradans are used to the inconvenience, however that doesn’t imply they will keep away from interacting with their banks via the lengthy snow season. 

That’s why we desire Colorado banks with strong cell and on-line banking interfaces. We imagine you need to be capable of do absolutely anything bank-related on-line, and most of those establishments agree with us.

Product Lineup

Regardless of the place they’re positioned, nice banks are typically complete. They don’t focus on one or two merchandise solely, however in all kinds of deposit accounts and mortgage varieties. Our checklist of one of the best banks in Colorado displays this.

Charges and Yields

Mortgage rates of interest and deposit account yields change on a regular basis, as anybody who follows the Federal Reserve’s rate of interest coverage is aware of. Nonetheless, banks are likely to get right into a groove the place they’re both forward of the pack — providing low rates of interest and excessive financial savings yields — or behind. 

We like banks that keep forward of the pack — no shock there. Our checklist displays this.

ATM Entry

Good banks have plenty of their very own fee-free ATMs scattered throughout their commerce areas or belong to wider ATM networks with tens of hundreds of machines throughout america. Usually, each. We compiled this checklist accordingly.

Areas Served

Colorado nonetheless has many small monetary establishments which have only some branches in a single space or one other. However all else being equal, broader protection is best. So with out completely writing off Colorado’s small group banks, we give desire to banks that function throughout wider geographies (even when restricted to Colorado).

Colorado Banking FAQs

If you happen to nonetheless have questions concerning the banking {industry} in Colorado, we’ve (some) solutions.

How Many Banks Are Based mostly in Colorado?

There are 66 FDIC-insured banks based mostly in Colorado, in response to our depend of the variety of banks in every U.S. state. That is about common for a state of Colorado’s measurement.

The variety of banks in Colorado was once a lot increased. Like different states, significantly these with longstanding agricultural and extractive industries, Colorado’s banking {industry} has seen a whole lot of consolidation because the Nineteen Eighties. 

Most Colorado banks are headquartered within the Entrance Vary area, centered on Denver. Nonetheless, plenty of group banks stay anchored in smaller cities within the Jap Plains, central mountains, and Western Slope areas.

What Is the Finest Financial institution for Financial savings in Colorado?

There’s no excellent reply to this query, sadly. Financial savings charges change on a regular basis, and whereas some Colorado banks all the time appear to have higher yields on financial savings and CDs than others, the exact order modifications typically.

For persistently excessive yields in your financial savings, look to on-line banks that serve prospects in Colorado, whether or not or not they’re truly headquartered right here. As a result of they’ve decrease overhead bills than conventional brick-and-mortar banks, they have a tendency to pay higher rates of interest on financial savings accounts.

What Is the Finest Financial institution for Mortgages in Colorado?

Once more, there’s no clear winner right here. And once more, our presumably unsatisfying reply goes to be: Look on-line. Direct mortgage lenders with out bodily department workplaces sometimes have one of the best mortgage charges, all else being equal.

There are exceptions to this rule, nonetheless. Many conventional banks (together with group banks) provide vital fee reductions and closing value reductions for purchasers with preexisting relationships. These advantages are likely to get extra beneficiant as the connection grows. Your financial institution can do much more for you if in case you have $500,000 with them than $500.

Likewise, nationwide mortgage lenders that do have department workplaces can nonetheless compete with on-line lenders. Whether or not they beat Colorado banks’ relationship affords is one other query.

What Is the Finest Financial institution for Free Checking in Colorado?

Many of the banks on this checklist provide a minimum of one free checking account. Failing that, they make it simple to waive checking charges by assembly a minimal stability or direct deposit requirement every assertion cycle.

So the reply to this query is “none, as a result of there are such a lot of that go the free checking take a look at.”

Methods to Select a Financial institution in Colorado

Let’s put all of it collectively and assessment what you need to take into consideration as you select your new Colorado financial institution. In our opinion, the components you completely should take into account embody: 

• Account and Service Charges: Until you like paying financial institution charges, search for Colorado banks that provide free deposit accounts and bank cards with out annual charges. If one of the best banks in your wants don’t have free checking accounts, give desire to these with checking accounts that make it simple to waive upkeep charges by assembly minimal stability or direct deposit necessities.
• Protection and Entry: By no means say by no means. Even in the event you do most of your banking in your telephone and barely if ever use money, there may come a day when you have to hit the ATM or converse with a banker in individual. When that occurs, you’ll be grateful to have a close-by financial institution department or ATM. 
• Private Service and Buyer Satisfaction: Parse banks’ acknowledged commitments to customer support very rigorously. Everybody pays lip service to the thought, however comparatively few Colorado banks truly observe via. If that is necessary to you, select a financial institution that’s actually beloved by its prospects, whether or not it’s a small group financial institution or a regional financial institution with a giant coronary heart.
• Deposit Account Choices: Why juggle a number of banking relationships when you possibly can have one for all of your wants? Search for Colorado banks with in depth product lineups, from checking accounts to financial savings accounts to cash market accounts to CDs and past. 
• Credit score Choices: You’ll virtually definitely want to use for credit score sooner or later in your life, whether or not it’s a bank card, automobile mortgage, or mortgage (or all the above). Make your life simpler when that point comes by selecting a financial institution with a pleasant credit score product lineup now and establishing a relationship that might earn you favorable charges or perks in your mortgage or credit score line.
• Know-how: Cellular and on-line banking are now not “good to haves” for many banking prospects. They’re necessities, particularly in the event you reside in far-flung mountain cities that get snowed in for weeks on finish. Select your financial institution accordingly.