The Best Regional Banks in New England

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New England banks – some of America’s oldest and largest financial institutions – are stuck in the country’s most northeastern states, including Massachusetts, Connecticut, Rhode Island, Vermont , New Hampshire and Maine. The oldest banks in several New England states have a history dating back to the founding fathers of the 18th century.

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It is a land of big banks, with very little room for fledgling financial institutions that are small and local. A top 10 credit union has less than 40 branches, but the others have hundreds or thousands of branches.

GOBankingRates rated the top 10 financial institutions in New England by looking at several factors, including whether they offer products and services such as credit cards, home and auto loans, investment services, and insurance. The greatest weight, however, was given to verification fees, savings and 12-month APY CDs and the number of branches each institution maintains. The study also looked at each bank‘s total assets and the rating of their apps in Android and Apple stores.

Keep reading to learn more about the top 10 banks in New England.

JPMorgan Chase

  • Branches: 4,960
  • Verification fees: $12
  • APY savings: 0.01%
  • CD APY 12 months: 0.02%

Learn more about this financial institution in our full review on it.

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Federal Naval Credit Union

  • Branches: 298
  • Verification fees: $0
  • APY savings: 0.25%
  • CD APY 12 months: 0.55%

Learn more about this financial institution in our full review on it.

Bank of America

  • Branches: 4,215
  • Verification fees: $12
  • APY savings: 0.01%
  • CD APY 12 months: 0.03%

Learn more about this financial institution in our full review on it.

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Wells Fargo

  • Branches: 5,024
  • Verification fees: $10
  • APY savings: 0.01%
  • CD APY 12 months: 0.01%

Learn more about this financial institution in our full review about it.

American Airlines Credit Union

  • Branches: 38
  • Verification fees: $4.75
  • APY savings: 0.40%
  • CD APY 12 months: 0.50%

Learn more about this financial institution in our full review about it.

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Key bank

  • Branches: 1,046
  • Verification fees: $0
  • APY savings: 0.01%
  • CD APY 12 months: 0.05%

Learn more about this financial institution in our full review about it.

Truist Bank

  • Branches: 2,562
  • Verification fees: $12
  • APY savings: 0.01%
  • CD APY 12 months: 0.05%

Learn more about this financial institution in our full review about it.

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NCP Bank

  • Branches: 2,150
  • Verification fees: $7
  • APY savings: 0.01%
  • CD APY 12 months: 0.02%

Learn more about this financial institution in our full review about it.

National Bank of the Valley

  • Branches: 234
  • Verification fees: $0
  • APY savings: 0.02%
  • CD APY 12 months: 0.05%

Learn more about this financial institution in our full review about it.

Manufacturers and Traders Trust Society

  • Branches: 749
  • Verification fees: $0
  • APY savings: 0.01%
  • CD APY 12 months: 0.05%

Learn more about this financial institution in our full review about it.

More from GOBankingRates

Methodology: To discover the Top 100 Banks, GOBankingRates looked at all institutions with published data available (national, regional, local, and online) from the Best Banks 2021 categories as well as all credit unions with more than $1 billion in dollars of total assets and accessible to a wide audience. GOBankingRates considered the following factors: (1) total assets from the FDIC and NCUA; (2) the number of branches from the FDIC and NCUA; (3) annual current account fees; (4) savings account APY rate; (5) 12-month APY CD rate; (6) customer service products offered (24/7 customer service and live chat with a human); (7) Bauer rating (out of 5 stars); (8) products/services offered (car loans, mortgages, credit cards, investment services and insurance); and (9) the average mobile app rating between Android and Apple stores. All factors were then scored and combined, with the lowest score being the best. Factors (1) and (4) were weighted 1.5 times in the final rating, factor (2) was weighted 2 times, factor (6) was weighted 0.5 times and factor (8) was weighted 2.5 times. For all savings and checking account data, only the core accounts/products offered at each institution were analyzed. All data current as of 12/08/21, rates and fees are subject to change.

About the Author

Andrew Lisa has been writing professionally since 2001. An award-winning writer, Andrew was previously one of the youngest nationally distributed columnists for the nation’s largest newspaper syndicate, the Gannett News Service. He worked as a business editor for amNewYork, the most widely distributed newspaper in Manhattan, and worked as an editor for TheStreet.com, a financial publication at the heart of New York’s Wall Street investment community. .

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