How we rank for
15% Checking Account Interest Rates
What are the rates offered on checking accounts? If a company offers several different rates, we calculate the average of these rates and list it as the going rate. Details can be found in the company review.
15% Savings Account Interest Rates
What are the rates offered on savings accounts (excluding money markets and CDs)? If the company offers several different rates, we calculate the average of these rates and list it as the going rate. Details can be found in the company review.
10% Loan Interest Rates
We list the range of the starting APR for the least amount of months to greatest amount of months (%) for auto loans that the company offers. Points will be awarded on the low end and the high end of the range. With personal/unsecured loans, we list the lowest interest rate the company can provide on an unsecured personal loan.
Credit unions, in general, are more customer oriented than banks but there are more limitations on eligibility than banks. Banks have the ability to acquire as many customers as they want, but credit unions have to be a little more cautious. Their caution is reflected in eligibility requirements that at times may seem restrictive. We list the number of groups that a company offers membership to. (Counties within a state count as just 1). Credit Unions that have a broader number of groups score higher.
9% Locations and ATMs
You can be a member of a bank that has locations nationwide but the locations of credit unions are normally limited to a specific region. We list the number of locations that the company has. These can be shared branches in addition to solely owned branches.
With ATMs, the specific region where a credit union is located also has a certain number. We look for the credit unions with more locations and ATMs because they have a greater likelihood of keeping their customers satisfied. We score based off of the number of ATMs provided by the company or a Co-Op network. The more ATMs offered, the higher a company will score.
Does the company offer features such as a mobile app, mobile wallet, and a mobile check deposit? A company will acquire more points as they offer more or less of the listed features. Second, does the company offer debit cards with EMV (chip) technology? Companies who do will score higher than the companies who do not offer debit cards with EMV technology.
6% Member Benefits
Member Benefits is comprised of three different parts. First we look at the amount of money needed to open a savings account with the company? A lower deposit amount will yield more points for a company. Second, does the company allow customers to use a savings account as overdraft protection for free? If a company does, they will score higher than those companies who do not. Third, how much does it cost when the company pays an overdraft for you? Companies with lower figures get more points.
We look at the legal history and financial stability of each company. This metric takes into consideration any bankruptcies, class action lawsuits, government lawsuits, or government investigations a company has had in the last five years.
15% User Score
Authentic user reviews are critical to what we’re doing at BestCompany.com. Because customer service is an important reflection of a company overall, nobody can provide better insights into a company’s performance than actual customers. Consequently, every company’s overall score is influenced, at least in part, by reviews submitted by customers.
For more information on how we moderate user reviews submitted to our site, you may refer to our Review Guidelines page.