Best Banks & Credit Unions in Alaska

With stunning landscapes and rich culture, it’s no wonder that many choose to call Alaska home. Despite its remote location and diverse environment, Alaska is home to a number of great banks that suit every need.

For residents of Alaska, choosing the right bank is a crucial part of their financial health, from simply managing finances to reaching ambitious financial goals.

Whether you’re looking for an account with low fees, competitive interest rates, or excellent customer service, here, we’ll explore a few of the best banks in Alaska so that you can choose the best one for you.

9 Best Banks & Credit Unions in Alaska

If you’re looking to open a new account, consider these top banks in Alaska:

1. First National Bank Alaska

Serving Alaskans for over 100 years, First National Bank Alaska (FNBA) has built a reputation as one of the best banks in the state. With deep local knowledge and a strong commitment to its community, First National Bank Alaska is invested in providing Alaskans with the financial support they need.

With 27 branches in 19 cities, First National Bank Alaska offers its customers an array of financial services, including:

  • Checking accounts
  • Savings accounts
  • Money Market Accounts (MMAs)
  • Safe deposit services
  • Certificates of Deposit (CDs)
  • Individual Retirement Accounts (IRAs)
  • Health Savings Accounts (HSAs)
  • Debit cards
  • Credit cards
  • Personal loans
  • Home equity loans
  • Escrow services

Offering six checking accounts for different ages and stages, they each come with a fee-free debit card, fee-free use of any First National ATM, mobile banking, online bill pay, and overdraft protection. There is also no minimum deposit to open a checking account.

FBNA also offers three savings accounts, the most notable being the Regular Savings account. It requires no minimum deposit to open, and the first three monthly withdrawals are free. Monthly service fees can be easily avoided when you maintain a $300 daily balance.

Other helpful features of this member FDIC bank include Zelle transfers, a well-rated mobile app, a comprehensive digital banking experience, and excellent security measures.

  • Comprehensive services available
  • Low, easy-to-avoid fees
  • Local expertise
  • Interest rates below the national average
  • Limited customer service access

2. Wells Fargo Wells Fargo Logo

Founded in 1852 and headquartered in San Francisco, Wells Fargo Bank is one of the largest banks in the U.S., offering a wide range of products and services across 33 states. With 40+ branches and 80+ ATMs in Alaska, Wells Fargo is a convenient option if you prefer in-person banking.

Wells Fargo offers numerous products and services like personal bank accounts, corporate and investment banking, credit cards, mortgages, auto loans, and personal loans. It also provides wealth management services, including investment accounts and retirement planning.

Customers can choose from two savings accounts, with monthly maintenance fees starting at $5 (unless you meet the criteria to avoid them). The annual percentage yield (APY) for savings accounts is on the low side when compared to other Alaskan banks. The Platinum Savings account does offer a tiered APY, so with a higher balance (particularly of $1,000,000 or more), you could see an interest rate between 2.00-2.50%.

It also offers five checking accounts, including the Everyday Checking account, Teen Checking account (for customers between 13 and 17), and Opportunity Checking account (for those with past banking issues).

Wells Fargo typically offers promotions for new customers, so you can receive cash bonuses for opening a particular account or credit card.

  • Large network of banks and ATMs
  • 24/7 customer service availability
  • Highly rated mobile app
  • Overdraft fees are high
  • Interest rates could be better

3. Northrim Bank

Northrim Bank is a community bank owned and operated by Alaskans. They have 17 branches across the state, including in Anchorage, Juneau, Fairbanks, and Sitka. Northrim Bank has 30 years of banking experience and prides itself on being a responsible community leader with the financial needs of its Alaskan customers at the heart of what they do.

With over $2 billion in assets, Northrim Bank serves individuals, small businesses, and corporations in Alaska. In addition to checking and savings accounts, Northrim also offers debit cards, credit cards, education savings accounts (ESAs), HSAs, MMAs, CDs, IRAs, investment portfolios, mortgages, and personal loans.

Northrim Bank offers a unique Flex Checking account with four tiers (Simple, Direct, Power, and Presidents). Northrim will automatically evaluate your account each month and place it in the most suitable tier, primarily so you can easily waive the monthly maintenance fee. The top three tiers earn interest, with rates ranging between 0.04% and 0.09%.

You can choose from four savings accounts, one being a money market account. Northrim’s Classic Savings is a straightforward savings account, whether you have short-term or long-term savings goals. There’s an initial minimum deposit of $100, with tiered interest ranging between 0.10% to 0.25%.

With Northirim Bank, account holders can log into their account anytime, whether online or via its highly-rated mobile app. Here, you can utilize online bill pay, transfers, mobile check deposit, and financial management tools. They’ve also included how-to videos on their website to walk users through using their online banking services.

  • Tiered interest rates on the majority of its accounts
  • Actively helps you avoid maintenance fees
  • Connected to the community
  • APYs are not competitive
  • Limited checking account options

4. KeyBank Keybank Logo

KeyBank is a national bank founded in 1825 and headquartered in Cleveland, Ohio. It has nearly 1,000 branches and more than 40,000 ATMs spread across 15 states, including Alaska.

KeyBank’s range of financial products includes traditional bank accounts, CDs, money market accounts, home loans, mortgages, loans, lines of credit, credit cards, insurance, investment portfolios, and debt consolidation services.

This FDIC-insured bank offers five different checking accounts to choose from. Three are interest-bearing and have monthly maintenance fees ranging from $18 to $50 (which you can avoid if you meet specific criteria like maintaining a certain daily balance). The two non-interest-earning accounts have no monthly maintenance fee or minimum balance.

KeyBank also provides a traditional savings account, Key Active Saver, with a minimum deposit requirement of $10 and a monthly fee of $4. It has a low interest rate of 0.01% across all balances; however, it does include features such as overdraft protection and EasyUp round-ups.

With KeyBank’s EasyUp program, you save money automatically when debit card purchases are rounded up to the nearest dollar and transferred to your savings account. KeyBank also has a mobile app where you can check your account balance, transfer money, and deposit checks.

  • Live chat is available seven days a week
  • EasyUp feature helps with savings and overdraft protection
  • Highly rated banking app
  • Low savings rates
  • High-yield CD has a huge minimum deposit

5. Axos Bank Axos bank Logo

Axos Bank, one of the original pioneers of online-only banking, provides financial services nationwide. Customers can access various digital banking products, including checking, savings, money market accounts, CDs, mortgages, and more.

Axos Bank is primarily online (with only three brick-and-mortar locations in the country), so it can offer lower fees and above-average interest rates. On top of that, customers have access to nearly 91,000 fee-free ATMs across the U.S.

All five of Axos Bank’s checking accounts have no monthly maintenance fees and unlimited ATM fee reimbursements. Additionally, these accounts come with a free debit card, online bill pay, and account alerts. Their popular Rewards Checking earns interest on your balance up to 3.30% APY.

Axos Bank is the only bank on this list offering a high-yield savings account (HYSA), with no monthly maintenance fees or minimum balance requirements (beyond the initial $250 opening deposit). This account has tiered interest rates, with which you can earn up to 0.61% APY.

Customers can easily manage their Axos Bank accounts through its website portal or mobile app, which is highly rated on both Google Play and the App Store.

  • Unlimited ATM fee reimbursements with checking accounts
  • Competitive checking rates and rewards
  • 24/7 customer service
  • No monthly fees
  • No physical locations in Alaska
  • Low CD and savings rates

6. Denali State Bank

Founded in 1986, Denali State Bank is a local bank serving the interior region of Alaska. With five locations between Fairbanks and Tok, you can visit them in person or take advantage of their free digital banking services.

Denali State Bank offers seven checking accounts. Three of them are Kasasa rewards checking accounts—one that earns at a high-interest rate, one for cashback rewards, and one for refunds on music, movie, or app purchases you make through iTunes, Amazon, or Google Play.

It also offers four savings accounts, as well as MMAs, CDs, and IRAs. The Kasasa savings account has an APY above the national average and can be linked to your Kasasa checking account. There are no monthly fees or minimum balance requirements (except for the $100 minimum deposit to open).

Other products and services available with Denali State Bank include credit cards, debit cards, mortgages, personal loans, auto loans, home equity loans, and more.

Fully managed by Alaskan residents, Denali State Bank takes great pride in its customer service, which is available 24/7. You can even connect with individual team members, including the CEO.

  • Unique Kasasa checking account rewards
  • 24/7 customer service
  • 5/5 mobile app rating in the App Store
  • No overdraft policy or APY info on the website
  • Limited number of branches in Alaska

7. Mt. McKinley Bank

Like Denali State Bank, Mt. McKinley Bank also serves the interior region of Alaska with 10 ATMs and five branches across Fairbanks and Delta Junction. Established in 1965, this community bank has grown into a full-service financial institution, offering personal and business banking, including checking and savings accounts, CDs, loans, safe deposit boxes, and IRAs.

As a prominent fixture in Alaska, Mt. McKinley Bank strongly focuses on the happiness and financial health of its customers, aiming to give customers the highest possible return on their deposit investments at the lowest possible cost.

Mt. McKinley Bank offers five checking accounts, a money market, and an HSA that function as a checking account. All checking accounts come with a Visa debit card, 24/7 online banking, automatic overdraft transfers between your accounts, direct deposit, e-Statements, and free ATM withdrawals at Mt. McKinley Bank ATMs.

They also offer five savings accounts, including passbook savings and savings for minors, each with its own rates, features, and restrictions. (Information about APY rates could not be found on Mt. McKinley’s website).

You can access Mt. McKinley Bank’s mobile banking app on Apple and Android devices to check your balance, view transactions, transfer funds, deposit checks, and set up account alerts.

  • Plenty of options for checking and savings accounts
  • Most checking options have no monthly fees
  • Kasasa Cash checking earns interest without a monthly fee
  • Website missing rate information
  • A limited number of locations and ATMs

8. First Bank

With a long-standing commitment to the local community, First Bank has been operating in Alaska since 1924. Headquartered in the culturally-rich town of Ketchikan, First Bank has nine branches across six cities in the state’s southeastern region.

First Bank offers four checking accounts, each with a free Mastercard debit card, and monthly fees ranging from $0 to $10. Account holders have a few options to avoid the monthly fee, primarily by maintaining a set daily balance or having direct deposit.

You also have the option of three savings accounts, a money market, time deposits (or CDs), or an IRA. The monthly fees range between $4 and $15. Each savings account has tiered interest rates from 0.10% to 0.35%.

A great feature of First Bank is its overdraft protection, which automatically transfers funds from your savings or a line of credit to prevent bounced checks or denied debit card purchases.

Customers must enroll in online banking to access First Bank’s mobile banking platform, which is available on any web-enabled device. You can pay bills (including mortgage payments), deposit checks, and locate nearby branches and ATMs through the app.

  • Great overdraft protection
  • Avoidable monthly fees
  • Competitive rates if you have a large amount to deposit
  • Customers are not automatically enrolled in online banking
  • Customer service is not available on weekends

9. Credit Union 1

Since 1952, Credit Union 1 has been working hard for its 100,000+ members and local communities in Alaska. With 12 branches throughout the state, Credit Union 1 primarily serves those in the southcentral region.

This not-for-profit credit union offers three options for both checking and savings accounts and multiple IRA, credit card, and loan options.

As a Credit Union 1 member, you can monitor your account 24/7 with digital banking, or you can set up email, text, or even push notifications when your account has a low balance, or when it’s time to make a loan payment.

Credit Union 1 provides financial education resources, community outreach programs, and personalized support to help members make the most of their money. Members also enjoy lower fees and better rates on loans and deposits.

How To Choose The Best Alaskan Bank

When deciding which bank to use in Alaska, the first thing you need to consider is your own personal needs, goals, and preferences when it comes to your money. It’s always a good idea to research and compare the services, fees, and locations of any bank you’re considering to find the best fit for you.

If you’re looking for a community bank with strong Alaskan roots, check out First National Bank Alaska. If you prefer a national bank with a larger network of banks and ATMs, consider Wells Fargo.

Further, if you live in the Far North region of the state, your options are limited to Wells Fargo and Credit Union 1 for an in-person experience—or you consider online options like Axos Bank, Chime, or Ally Bank.

Frequently Asked Questions

What is the most popular bank in Alaska?

The most popular bank in Alaska is difficult to pinpoint, as the needs of Alaskans are forever changing and evolving. Currently, the most well-known banks in Alaska are Wells Fargo and First National Bank Alaska, Northrim Bank, and Key Bank.

What banks are available in Alaska?

There are several banks and credit unions available in Alaska, including the following:

  • Alaska USA Federal Credit Union
  • Credit Union 1
  • Denali State Bank
  • First Bank
  • First National Bank Alaska
  • KeyBank
  • Matanuska Valley Federal Credit Union
  • McKinley Bank
  • Northrim Bank
  • Spirit of Alaska Federal Credit Union
  • Tongass Federal Credit Union
  • Wells Fargo

Is there a Chase bank in Alaska?

There are no JP Morgan Chase Bank locations in Alaska; however, you can open a bank account with Chase online.

Is there a Bank of America in Alaska?

No, there are no Bank of America locations in Alaska.

Does Alaska have Wells Fargo?

Yes, Alaska has over 40 Wells Fargo branches across the state, including in Anchorage, Fairbanks, Juneau, and the northernmost city in the U.S., Utqiagvik (formerly Barrow).

What is the Best Bank in Alaska for You?

When finding the right bank in Alaska, your choice can significantly impact your financial journey. Take your time and do your research so you can make an informed decision.

It starts with considering your financial needs and preferences—What do you want from your financial institution?

You’ll also want to look into key features, including fees, customer service, branch and ATM locations, FDIC insurance, and whether they offer online or mobile banking.

Whether you want a national bank, community bank, or credit union, choose a bank that understands and caters to your needs. Then you’ll be well on your way to a brighter financial future in the great land of Alaska.

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