Georgia is considered one of the most important states based on population, with over 11 million people calling the Peach State home. So it’s no surprise that there are 15 industrial banks and over 100 credit unions operating within the state.
With so many options, finding the correct bank might be difficult. Money researched the highest financial institutions within the state based on their account offerings, rates of interest and charges so as to discover the very best banks and credit unions in Georgia for 2024:
*Rates and APYs are subject to vary. All information provided was accurate as of Oct. 8, 2024.
Although Ally is primarily a web based bank, considered one of its key locations is in Georgia, so it is a top bank inside the state. It offers high-yield savings accounts (HYSAs), low price checking accounts and multiple certificates of deposit (CD) and money market options with higher-than-average APYs. While many banks charge monthly fees or require customers to deposit a whole bunch of dollars to open an account, Ally offers checking, savings, money market accounts and CDs with no minimum deposit requirement. Moreover, Ally has several CD options, including no-penalty options that can help you withdraw money before the CD’s maturity date without sacrificing interest.
Nevertheless, those preferring the choice of visiting a bank in person can be dissatisfied to learn that Ally doesn’t operate any physical branches. And for those who open a savings or money market account through the bank, remember that you simply’re limited to 6 withdrawals per thirty days. Although Ally doesn’t charge excess transaction fees, it might resolve to shut your account for those who exceed the withdrawal limit multiple times.
- No monthly maintenance fees
- High APYs on savings accounts, money market accounts and CDs
- No-penalty CD option
- Doesn’t operate any branches
- Limits on variety of withdrawals allowed per thirty days
Ameris is a full service bank that provides each online accounts and in-person assistance at its branches. There are over 70 locations in Georgia, and Ameris has excellent rankings for customer satisfaction within the J.D. Power Retail Banking Satisfaction Study. The bank’s customers can reap the benefits of added advantages on its checking account that provide much more value, corresponding to cellular phone insurance, credit monitoring and identity theft protection and reimbursement. The bank also has a useful mobile app with powerful budgeting tools, automatic bill payments and Zelle money transfers.
Although Ameris has free checking account options, its money market and savings account charge monthly fees. It has limited CD term options — the utmost term length is just five years — and it limits customers to 6 withdrawals from a money market or savings account per thirty days.
- Highly rated by J.D. Power for customer satisfaction
- Added advantages on checking accounts
- Robust mobile app
- Monthly fees apply to most money market and savings accounts
- Limited variety of withdrawals on savings and money market accounts
- Limited CD terms
CIT is one other digital bank. Nevertheless, it is a division of First Residents, a significant bank that operates 29 branches inside Georgia. In consequence, CIT is a well-liked bank offering a few of the very best CD rates and options inside the state, including no-penalty CDs and jumbo CDs. Through CIT, you may open a CD and lock in a higher-than-usual APY for the length of the CD’s term. Besides the standard term CD, CIT has a no-penalty option that means that you can withdraw money from the CD before the top of its term without penalty. Nevertheless, there is simply one term option for no-penalty CDs with CIT Bank: 11 months.
With CIT Bank, you may earn a high APY with a savings account. Nevertheless, the highest-possible APY only applies to balances over $5,000. Moreover, CIT Bank doesn’t operate physical branches, which could also be a frustrating drawback for some.
- Higher-than-average APYs on CDs
- Low minimum deposit for CDs
- Multiple CD options
- HYSAs only earn the very best rate on balances over $5,000
- No physical branches available
- Limited terms on some CDs
The Credit Union of Georgia has the “Senior Class” program. For purchasers age 65 or older, the Senior Class advantages are robotically added to their checking and savings accounts. This program provides added perks, corresponding to free checks every 12 months, special rates on jumbo CDs, free paper statements and discounts on protected deposit boxes. The Credit Union of Georgia offers accounts without monthly fees, and as a credit union member, you may also qualify for added discounts. For instance, members of the credit union are eligible for discounts on home security systems, automobile and homeowners insurance, tax preparation software and even fitness classes.
Nevertheless, not everyone seems to be eligible for membership with the Credit Union of Georgia. To qualify, it’s essential to live or work in an eligible county inside Georgia, work for a partner employer to have a direct member of the family who’s a member.
- Added advantages for those 65 and older
- Interest-bearing checking and not using a monthly fee
- Customers eligible for added discounts
- Limited membership eligibility
- Minimum balance requirement for money market accounts
- Charges excess withdrawal fees
While most banks and credit unions have only one or two checking account options, Regions Bank has six. It offers options starting from interest-bearing accounts to specialty accounts for seniors and students. Depending on the account, it could not carry a monthly fee, or you could be eligible for a fee waiver based in your balance or monthly deposits. If you’ve gotten a checking account with Regions, you may reap the benefits of added advantages like discounts on protected deposit boxes, relationship APYs for existing customers, discounts on Regions loan products and money back at partner retailers.
Regions offer a spread of banking products, but a few of its accounts — corresponding to its savings for minors account or CD account — require you to go to a branch in person to open them. Lastly, its CDs are limited; the utmost CD term is 72 months.
- Six checking account options available
- Multiple ways to qualify for monthly fee waivers
- Added discounts
- Relatively low APY on checking accounts
- Some accounts require you to go to a branch in person to open a recent account
- Limited CD terms
How we selected the Best Banks of 2024-2025
To find out our list of Best Banks for 2024-2025, Money staff evaluated a whole bunch of the most important retail banks, credit unions, regional and state banks, ranked by assets, and 20 of the preferred online banks. We then compared opening balance requirements, interest paid, fees and features to find out our top picks. We identified the highest banks and credit unions in Georgia by examining which financial institutions operate inside the state and comparing their account options, minimum deposit amounts, APYs and charges. We also considered typical customer satisfaction levels and accessibility, including what mobile or online tools the institution provides.
You may read our full methodology here.