Updated October 1, 2022

Best Banks in Colorado

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In Colorado and looking for a new bank? This useful guide to the best banks in Colorado will make finding one easy.

Choosing the right bank can be a daunting task. But it's a pretty important decision for your financial wellbeing.

So, how can you tell which is right for you?

This list of the best banks in Colorado can save you the trouble. Find out which Colorado banks earn top marks for checking, savings, and more.

How to Choose the Right Bank For You

Each bank isn't necessarily right for every customer. The bank you choose will ultimately depend on your own personal needs. Ask yourself the following questions at the start of your search:

  • Does the bank serve your area?
  • Does it offer special services for your demographic? (student, business owners, etc.)
  • Does it offers the services you want, at a price you can afford?
  • Does the bank make it easy to bank with them? (Online banking, branch access, etc.)

We're certain you'll find a bank that works for you here, regardless of your banking needs.

6 Best Banks in Colorado

By looking at a variety of factors and features, you can identify the best bank to fit your needs. Now let's jump in and look at the top banks in Colorado.

US Bank: Best National Bank

When it comes to banking, there's a lot to be said for going with a major institution, and in Colorado, US Bank is one of the biggest. US Bank's parent company, US Bancorp, is ranked as the fifth largest banking institution in the country.[1]

They have 109 locations in Colorado at time of writing, more than many of their competitors, with 65 of them in Denver alone.

By choosing to go with US Bank, you get access to over 2,000 branches across the country, and nearly 5,000 ATMs. Services they offer include a range of personal banking options like checking and savings accounts, credit and lending services, and more.

And in addition to their physical locations, they also have an easy-to-use mobile app, to get your banking done wherever you go.

FirstBank: Best Regional Bank

Of course, national banks aren't for everyone. You may be of the opinion that a bank serving the whole country can't serve locals as well as a local bank can. If that's the case, we recommend FirstBank, our top pick for regional banks from Colorado.

Founded in Lakewood, Colorado in 1963, FirstBank has since grown to one of the largest privately held banks in the country, and in Colorado their total deposits come second only to Wells Fargo.

Their history of serving Coloradans means they understand them better than banks from other states, and may be able to offer better services than even their larger competitors.

FirstBank offers both in-person and online banking services, personal and business bank accounts, and a range of lending services.

Bank of Colorado: Best Local Bank

If you want to get really local, the Bank of Colorado is a local bank with a long history in the Centennial State. Founded all the way back in 1900, the Bank of Colorado has 45 branches, and all but three of them are in Colorado.

While you might not get the same bells and whistles you'll find at a national bank, you can be sure that a local bank like this one will understand your needs as a customer.

Colorado residents get access to free checking with the Bank of Colorado, not to mention savings and home and auto loans. They have locations all around the state, including Denver, Lakewood, Colorado Springs, and dozens of other cities.

And for local business looking to satisfy their banking needs, they offer business banking in addition to their selection of personal banking services.

Chase: Best for Checking

If checking is your primary concern, you might consider Chase Bank.

All three of Chase's checking accounts provide access to their branches and ATMs, online banking services, Autosave automatic transfers, Chase First Banking—an account for parents with a debit card for kids, and no overdraft fees for negative balances less than $50.

*With Chase Overdraft AssistSM, Chase won't charge an Overdraft Fee if you're overdrawn by $50 or less at the end of the business day OR if you're overdrawn by more than $50 and you bring your account balance to overdrawn by $50 or less at the end of the next business day (you have until 11 PM ET (8 PM PT) to make a deposit or transfer). Chase Overdraft Assist does not require enrollment and comes with eligible Chase checking accounts.

Another one of Chase's best features is their branch access. Chase operates 118 branches in Colorado alone, with more than 4,700 branches and over 15,000 ATMs in the U.S.

This can also prove a huge benefit if you're frequently on the road, since you can be sure you're never too far from access to your finances.

They also have a sleek, easy-to-use mobile app, which makes it a breeze to pay bills or cash checks wherever you are. In terms of pure convenience, Chase may be the winner.

CIT Bank: Best Online Bank

CIT Bank is a popular online bank that offers a range of services including high returns on deposits into their savings accounts.

The CIT Savings Builder offers a generous APY with no minimum deposit to open.

CIT is primarily known for savings and CDs, allowing you to grow your wealth through the power of compound interest.

And as an online bank, they're able to cut down on overhead and pass those savings on to you. That's how they can avoid charging any monthly account fees.

With their RampUP CD, CIT ensures you won't get locked into a lower rate if the rates happen to increase after you sign up. If CIT adjusts their rates, you have one opportunity to increase yours as well.

Not to worry if you need to make deposits. That can be done easily through their mobile app, with no need to visit a physical branch office.

Wells Fargo: Best for Small Business Owners

For small business owners in the state of Colorado, the bank of choice may be Wells Fargo.

Wells Fargo continues to be among the most active SBA 7(a) lenders according to reports provided by the Small Business Administration (SBA).[2]

Wells Fargo excels in services that small business owners rely on, including bank accounts, merchant services, and lending. Wells Fargo also has its own business loan offerings in addition to those provided through the SBA.

They earn top marks for transparency, as well. While many business-oriented banks won't disclose interest rates on their loans until you visit a branch office, Wells Fargo posts their rates publicly.

Small business owners will also appreciate the Wells Fargo Initiate Business Checking account, a rarity in business checking thanks to its easily achievable fee waiver.

How to Choose the Best Bank in Colorado

Just like you're laying down roots in Colorado, your money also needs a financial home. Here's what to consider when choosing the right bank:

Convenience is key. Choose a bank with branches close to your home and work, so you have easy access to ATMs and in-person support.

Checking and savings accounts
Pick a bank with the accounts and features you need. For example, some banks' checking accounts may have overdraft assistance or free budgeting tools.

Monthly fees
Some banks (especially traditional banks) charge a monthly fee unless you maintain a certain minimum balance or meet other criteria. This doesn't have to be a dealbreaker, as long as you can easily meet the requirements.

Additional services
Looking for more than banking? Banks usually also offer credit cards, loans, investment tools, and small business products. Look into the bank's other services if you want a one-stop-shop.

Bottom Line

Regardless of your banking needs, there's a perfect fit out there for you. For Coloradans looking for a national reach, US Bank is an excellent option, while those who prefer local expertise may prefer FirstBank or the Bank of Colorado.

Those looking for the highest interest rates on their savings may prefer an online-only bank like CIT Bank.

Small business owners will get the most benefit from a partnership with Wells Fargo, which provides a range of business-oriented services. And customers looking for solid checking options will appreciate Chase's many locations across the state.


  1. ^ Federal Reserve Board. Large Commercial Banks, Retrieved 5/1/2022
  2. ^ "FY2021 lending volume through December 31, 2021.": SBA.gov, 2021.

Jeremy Harshman is a creative assistant at CreditDonkey, a bank comparison and reviews website. Write to Jeremy Harshman at jeremy.harshman@creditdonkey.com. Follow us on Twitter and Facebook for our latest posts.

Note: This website is made possible through financial relationships with some of the products and services mentioned on this site. We may receive compensation if you shop through links in our content. You do not have to use our links, but you help support CreditDonkey if you do.

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