10 Best Banks in Colorado for 2024


Colorado is a great place to live and work. It offers a temperate mountain climate, a healthy economy, and no shortage of exciting outdoor activities and attractions. If you’re a Colorado resident or frequently visit the state, you may be searching for a reliable banking option.

Welcome to Colorful Colorado sign

Our list of the best banks in Colorado can help you find the one that makes the most sense for your unique finances and preferences. Without further ado, here are our top picks for banks in the Centennial State.

10 Best Banks in Colorado

Finding your ideal financial partner from the many options available is essential. Here’s a breakdown of the best banks in Colorado to help you choose the right one.

1. U.S. Bank

For a reputable bank with a widespread presence across the country, U.S. Bank is a solid choice as there are locations in 26 states. Headquartered in Minneapolis, U.S. Bank has 104 physical branches in Colorado.

U.S. Bank is currently welcoming new applicants with a special online offering:

  • Earn up to $700 when you open a new U.S. Bank Smartly® Checking account and a Standard Savings account, and complete qualifying activities.
  • Subject to certain terms and limitations. Offer valid through June 27, 2024. Member FDIC.
  • Offer may not be available if you live outside of the U.S. Bank footprint or are not an existing client of U.S. Bank or State Farm.

The account includes a free debit card that can be locked or unlocked if ever misplaced or stolen. There are no ATM transaction fees at U.S. Bank ATMs and no surcharge fees at over 40,000 MoneyPass® Network ATMs.

The checking account requires a $25 opening deposit and a $6.95 monthly fee. This fee can be waived for those 24 and under, 65 and over, or military members (must self-disclose).

Additionally, the fee can be waived with monthly deposits of $1,000+, an average balance of $1,500+, or holding an eligible U.S. Bank credit card. Qualifying for any Smart Rewards® tier (Primary, Plus, Premium, or Pinnacle) also waives the fee.

2. SoFi

SoFi stands out as a top online banking choice, especially for its comprehensive Checking & Savings account options. It offers an attractive 4.60% APY on savings and 0.50% APY on checking balances, free of monthly charges and without the need for a minimum deposit.

Clients will find value in the early direct deposit feature, enabling access to paychecks up to two days earlier. Moreover, cashback rewards of up to 15% are available when making purchases with the SoFi debit card at selected retailers.

Ensuring the security of customer funds is a priority for SoFi, which is why it includes FDIC insurance coverage up to $2 million.

The bank also offers overdraft protection without fees for up to $50, applicable to accounts with eligible direct deposits.

Newcomers to SoFi can receive a welcome bonus ranging from $50 to $300, determined by the direct deposit value. Furthermore, SoFi provides access to a network of over 55,000 Allpoint® ATMs, enhancing the banking experience for its users.

3. Chime

As an online-only banking solution, Chime serves customers across the United States, including the beautiful state of Colorado.

Chime operates with lower overhead expenses compared to traditional banks. This translates into a range of customer-friendly perks, like no monthly fees, no minimum balance or deposit requirements. The only fee you might run into? An out-of-network ATM fee1.

Chime has an impressive network of more than 60,000 ATMs nationwide, which means you can easily avoid those pesky ATM fees. When you open a Chime checking account, you’ll receive a Visa debit card with no replacement fee in case it ever goes missing.

As a Chime user, you can take advantage of the SpotMe® feature5, which gives you free overdraft protection. Chime also has a round-up feature that transfers the difference from your rounded-up debit transactions into a high-yield savings account.

Additionally, Chime provides early direct deposits2 so you can get your paycheck up to two days early and a user-friendly mobile app that’s compatible with both iOS and Android devices.

4. Alpine Bank

Headquartered in Glenwood Springs, Alpine Bank is committed to a green business model and the local communities it serves.

It has nearly 40 locations throughout the state in cities like Aspen, Avon, Boulder, Breckenridge, Colorado Springs, Denver, and Durango. If you prefer online banking and mobile banking, rest assured these are available at Alpine.

The bank’s lineup of products includes several personal checking accounts, including a few that come with no monthly service fees.

You’ll also find auto and home loans, land and construction loans, home equity loans, personal credit cards, and student loans. Business services, such as business checking, commercial property loans, as well as wealth management are offered as well.

5. Bank of Colorado

Bank of Colorado was founded in 1938 and is considered one of the oldest banks in Colorado. It provides customers across the state with various products, including free checking accounts, savings accounts, Visa debit cards, credit cards, home loans, and auto loans.

Business owners can count on the bank for business banking and small business loans. The bank also assists with cybersecurity, ACH origination, direct deposit, merchant card processing, lockbox payment processing, and more.

While you can bank in-person at a local branch, the Bank of Colorado is up-to-date on technology and allows for online banking and mobile banking.

It’s also dedicated to customer education and offers a financial education center with a wealth of resources on topics like preventing fraud and scams, building financial resilience, and preparing for retirement.

6. Chase Bank

Chase Bank, the consumer banking arm of JPMorgan Chase, is available in almost every state and has 104 branches in 32 Colorado cities. It’s one of the large national banks.

The bank’s lineup of checking accounts includes: Chase Total Checking, which is the basic checking option, Chase Secure Banking which eliminates overdraft fees and offers a $100 sign-up bonus, and Chase Premier Checking that yields interest.

Fortunately, you can open a new checking account without a minimum deposit and may be able to get the monthly maintenance fee waived.

Chase also has bank accounts for kids and students, including checking and savings accounts and CDs. In addition, you can turn to the bank for credit cards, mortgages, car loans, and investment accounts.

7. Integrity Bank & Trust

Integrity Bank & Trust is a community bank owned by employees in Colorado Springs with three branch locations. Most of its checking account products don’t have any minimum balance requirements and offer rewards like competitive rates, cash back, and refunds on ATM withdrawals.

Plus, each checking account comes with a free order of checks, free digital banking, free e-statements, and a free debit card.

When it comes to savings accounts, you can choose from the regular savings or money market account, as long as you don’t mind the $100 minimum deposit requirement.

Other personal banking services include certificates of deposit (CDs) and health savings accounts (HSAs). In addition, Integrity Bank & Trust provides Colorado businesses with small business banking and lending services.

8. FirstBank

Based in Lakewood, FirstBank has about 90 bank branches throughout Colorado and is considered the best local bank. The bank’s personal checking accounts are attractive options because there are no minimum balance requirements or monthly maintenance fees on most of them.

If you opt for the interest bearing Premier Checking account, however, you’ll need to maintain a balance of $2,500 to earn interest.

FirstBank also offers a plethora of savings options, like the regular savings account, liquid savings account, money market account, and individual retirement account (IRA).

If you invest in real estate or have plans to do so, you may benefit from FirstBank’s unique real estate loans and land loans. These include the owner occupied commercial real estate loan, SBA 504 loan, business and consumer construction loan, and single close construction loan. First Bank also offers digital banking and a handy mobile app.

9. High Country Bank

High Country Bank can be a smart choice if you like the idea of a community bank. It’s based in Salida and has five branches in the state.

Even though High Country Bank is fairly small, it provides a diverse selection of products. Its personal offerings include banks accounts, such as checking and savings accounts, money market accounts, credit cards, vacant land loans, and personal loans.

This Colorado bank also caters to small businesses through commercial checking accounts, CDs, and merchant card services.

Additionally, it offers residential mortgages with options like variable terms, fixed rates, adjustable rates, and low down payments. Home improvement loans are available as well.

10. Wells Fargo

Wells Fargo is one of the largest banks in the U.S. with locations in 36 states and Washington, D.C. Many people consider it the best national bank. There are more than 140 branches in over 50 Colorado cities, so the bank is a solid choice if you prefer in-person banking.

Wells Fargo offers a diverse array of services for individuals and small businesses, such as checking and savings, CDs, credit cards, and loans.

If you’d like to partner with a financial advisor that can help you with personal finance and allow you to meet your financial goals, you can do so through Wells’ wealth management services.

For banking on the go, you can download the mobile app on your iOS or Android device to check your account balances, monitor your FICO score, send and receive your money with Zelle. The app also makes transferring money easy.

How to Choose the Best Bank in Colorado

Choosing the best banks in Colorado can feel overwhelming. Here are some factors to consider so you can make an informed choice:

  • Interest rates: If growing your savings is important to you, prioritize the banks with competitive interest rates. Typically, online banks offer higher savings rates than banks with branches and more expensive overhead costs. A competitive annual percentage yield (APY) can help you meet your savings goals faster.
  • Fees: Fees like monthly maintenance fees, ATM fees, and overdraft fees can add up quickly. That’s why you should focus on banks with minimum to no fees. If you do find a bank you like that has many fees, find out if there’s a way to waive them.
  • Products: Some banks offer more products than others. Choose a bank that is able to meet all of your personal and business checking, saving, and investing needs.
  • Perks: While these aren’t required, they’re certainly nice to have, regardless of if you’re an individual or small business owner. Some examples of them include mobile banking apps with bill pay and mobile deposits, free credit score monitoring, financial advising, and discounts at certain retailers.
  • Reputation: Just because you come across a bank in Colorado doesn’t mean it’s reputable. Before you move forward with any bank, do your research and read ratings and bank reviews.
  • ATM access: Ideally, you’d go with a bank with a large network of fee-free ATMs. Otherwise, you may have to pay a pretty penny to deposit cash and withdraw funds. Fortunately, some banks waive ATM fees for using out-of-network ATMs.
  • FDIC insurance: To ensure you won’t lose your money if a bank fails, Federal Deposit Insurance Corporation (FDIC) insurance is vital. Most of the best banks will insure up to $250,000 per depositor per bank account.
  • Customer service: In a perfect world, you’ll never have any questions or concerns with your accounts. Since this is unlikely, excellent customer service is essential. Look for a bank that has high customer service ratings and multiple ways to get your needs addressed.

Bottom Line

As you can see, the Centennial State is full of great banking options. Before you choose one, however, weigh the pros and cons of all your options. Also, don’t be afraid to test out a few financial institutions until you find one or a few that check off all your boxes. Good luck with your search for the best bank in Colorado.

Frequently Asked Questions

What is the largest local bank in Colorado?

Currently, FirstBank is the largest bank in the state. It has more than 100 locations and plans to expand. However, there are also many other great local banks, like Bank of Colorado and Alpine Bank.

What are some examples of community banks in Colorado?

Colorado is home to numerous community banks that cater to the local populace with tailored services and an in-depth understanding of the regional financial scene.

Community banks such as Points West Community Bank, Sunflower Bank, and Alpine Bank stand as favorable options, offering a personal touch and various financial products to meet your banking needs. If you’re keen on supporting local businesses and enjoying personalized service, exploring community banks in the area might be the ideal choice.

Are Colorado banks FDIC insured?

Most reputable banks in Colorado are insured by the FDIC. This means your money will be protected in the rare event of a bank failure.

What are the best credit unions in Colorado?

Colorado boasts a strong selection of credit unions, known for their customer-centric approach, competitive rates, and comprehensive financial services. Here are some of the best credit unions in the state:

  • Bellco Credit Union: One of the largest credit unions in Colorado, Bellco offers checking and savings accounts, mortgages, auto loans, and a suite of online and mobile banking services. They’re known for their customer service and community involvement.
  • Ent Credit Union: With a significant presence in Colorado, Ent offers a range of services, such as savings and checking, credit cards, loans, and investment services. They’re also recognized for their commitment to financial education.
  • Elevations Credit Union: Based in Boulder, Elevations provides a full range of banking services, from personal and business banking to loans and credit cards. They’ve won numerous awards for their services and dedication to their members.
  • Canvas Credit Union: Serving Denver and Fort Collins, Canvas offers personalized financial products, including checking and savings, loans, and retirement planning services.
  • Navy Federal Credit Union: With a nationwide reputation, Navy Federal provides a broad range of banking services, from loans and credit cards to deposit accounts. Their commitment to members and extensive financial options make them a popular choice in the state.
  • Westerra Credit Union: Westerra is lauded for its comprehensive suite of products, including loans, checking and savings, and insurance services. They have a solid reputation for excellent customer service.

Is an online bank a good idea?

An online bank can be a smart move if you feel comfortable using your computer or phone to bank, and they are just as safe as traditional banks. However, if you prefer branch visits, you may want to explore banks with physical locations and in-person service.

What is the best checking account in Colorado?

The ideal checking account depends on your particular banking needs. However, you might want to look into Citi Priority Checking, FirstBank Anywhere Checking, the Key Smart Checking, and the Bank of the West Any Deposit Checking account. Note that most banks in Colorado offer a free checking account.

How many banks are in Colorado?

There are 66 FDIC insured banks that are based in the Centennial State. There used to be more, but other industries such as agriculture have become more popular than banking.

Chime is a financial technology company, not a bank. Banking services and debit card provided by The Bancorp Bank N.A. or Stride Bank, N.A.; Members FDIC. Credit Builder card issued by Stride Bank, N.A.

1. Out-of-network ATM withdrawal fees may apply with Chime except at MoneyPass ATMs in a 7-Eleven, or any Allpoint or Visa Plus Alliance ATM.

2. Early access to direct deposit funds depends on the timing of the submission of the payment file from the payer. Chime generally make these funds available on the day the payment file is received, which may be up to 2 days earlier than the scheduled payment date.

5. Chime SpotMe is an optional, no fee service that requires a single deposit of $200 or more in qualifying direct deposits to the Chime Checking Account each at least once every 34 days. All qualifying members will be allowed to overdraw their account up to $20 on debit card purchases and cash withdrawals initially, but may be later eligible for a higher limit of up to $200 or more based on member’s Chime Account history, direct deposit frequency and amount, spending activity and other risk-based factors. Your limit will be displayed to you within the Chime mobile app. You will receive notice of any changes to your limit. Your limit may change at any time, at Chime’s discretion. Although there are no overdraft fees, there may be out-of-network or third-party fees associated with ATM transactions. SpotMe won’t cover non-debit card transactions, including ACH transfers, Pay Anyone transfers, or Chime Checkbook transactions. See Terms and Conditions.

Anna Baluch
Meet the author

Anna Baluch is a freelance personal finance writer from Cleveland, OH. She enjoys helping people make smart financial decisions.