The Finest Connecticut Banks

It's not easy to pick the best bank because there are so many possible features an account can have, and not all features are valued equally by customers. You may be willing to pay a monthly fee for the convenience of in-person banking, while others may favor the convenience and higher interest rates available from banking exclusively online. To help you find the best bank for your specific needs, GOBankingRates ranked Connecticut's top 10 financial institutions.

Best Connecticut Banks (10)

Based on factors such as total assets, checking account monthly fees, savings account interest rates, ease of access, and available products, GOBankingRates has named the top Connecticut banks. Find the best bank for your needs by comparing the following institutions. The top 10 Connecticut financial institutions are:

• Bank of Liberty

• Organization: Webster National Bank

• Bancorp United

• Bank of Farmington

• Institution for Savings and Trust

• Union Savings Bank

• National Association of People's Banks

• Wells Fargo Bank

• Bank of First County

• Credit Union of Fairfield County

Freedom Bank

Liberty Bank provides free checking accounts and debit card users with cash rewards. Liberty Bank's Quarter Back Checking Account features a $100 welcome bonus, 24/7 telephone banking, and no account opening requirements. Liberty Bank offers more than just banking services; they also offer credit cards, conventional and reverse mortgages.

Customers of Liberty Bank can be found in the following areas:

• Connecticut

• Massachusetts's counties of Hampden, Hampshire, and Worcester

• The Rhode Island County of Washington

Online applications for new accounts require a valid photo ID, Social Security number, proof of U.S. citizenship or permanent resident status, and an existing bank account.

National Association of Webster Banks

Webster Bank has no annual fee credit cards and checking accounts with low minimum balance requirements. There are no monthly service fees or minimum balance requirements for the bank's eChecking account, and customers can use it for free online bill pay, access to 300 Webster ATMs, and the ability to print up to five checks per month. If you enroll in electronic statements, have at least $500 deposited directly, and write fewer than five checks per month, you can avoid a $5 monthly fee. A Webster Bank Visa card, which is available to you, comes with the following perks:

• There is no yearly charge

• One point for every one dollars spent.

• Every month, you'll receive a 25% point bonus.

• There are no salary limits in place

With your SSN, driver's license, and employment details, you can open a Webster Bank account online.

We Are United Bank

United Bank allows you to open a checking account with as little as one dollar and never charges you a monthly minimum. United Bank and Allpoint ATMs in Connecticut and Massachusetts will not impose any ATM withdrawal fees on your account. Certificates of deposit offer attractive interest rates, including:

• Annual Percentage Yield of 1.20% on a Yearlong Certificate of Deposit

• 20 month CD at 1.55% APY

• 1.70 percent annual percentage yield on a CD with a 35-month term

• 59-month CDs at 2.05% APY

Send in your address, proof of employment, and identification information to United Bank online.

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The Farmington Bank

Farmington Bank is the place to go if you've ever been turned down for a checking account elsewhere, and it also offers financial planning services. The following are the terms and benefits that come with the Simple Checking account:

• Initial deposit of $25 required.

• There is not a regular fee

• No-cost bank card

Fresh Start Checking is a checking account with a $10 monthly maintenance fee that may be an option if you've had trouble opening a checking account in the past. The bank offers specialized wealth management services on-site.

Farmington Bank requires a driver's license, Social Security number, and a funding method to open an account.

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Financial Institutions Trust and Savings Association

The Savings Institute and Trust Company offers free CashBack Checking and no monthly checking service fees. Multiple loan and annuity plans are available. You can get a mortgage preapproval for up to 90 days on the following loan types in addition to the standard mortgage:

• Building Funding

• Land loan

• Mortgage in reverse

There are no upfront costs, yearly fees, or other surprises with the bank's annuities. To open an account, you must personally visit a Savings Institute Bank or Trust Company branch.

Banco de Ahorro Unión

Union Savings Bank is a top 10 bank in Connecticut due to its free Classic Checking account and flexible loan terms. Checking accounts at Union Savings Bank come with perks like no monthly maintenance fees, free Union Savings Bank ATM use, and no service charges if you go paperless with your statements. The account you select will also determine the additional terms and perks that you enjoy.

• Traditional Checking Account - $25 opening fee, $2 per transaction at ATMs other than Union Savings Bank.

• Standard Student Checking Account: $25 to open, eight monthly non-Union Bank ATM fee refunds

• Fees for Relationship Verification range from $50 to open + $15 (optional) service charge.

• Money to check USB opportunities: $50

Personal loans allow you to borrow as little as $500 when you need money quickly.

To open an account, stop by any Union Savings Bank location. When you come, please bring two forms of identification.

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National Association of People's Banks

Among the top 10 banks in Connecticut, People's United Bank has the most locations (over 400) and is the only one to provide all of the services requested (auto loans, mortgages, credit cards, investments, and insurance).

This bank does not offer free checking accounts, but there are ways to avoid paying a monthly fee on the Plus Checking account:

• Keep at least $1,000 in your account at all times.

• Get paid instantly

• A minimum age of 65

Wealth management is another service provided by People's United Bank, and it includes retirement account options like traditional and Roth IRAs.

You can open an account online by providing your name, address, date of birth, Social Security number, driver's license number, proof of employment and proof of income.

Money Well Bank

With Bankwell's Smart Checking account, you can get cash back at any ATM in the country, earn interest on your balance, and never pay a monthly fee. Free checks and stop payments are available with an average monthly balance of over $10,000. In addition, FinanceWorks allows you to keep tabs on every aspect of your money. CDs are available from Bankwell Bank at various interest rates.

• APY of 1.15% on a CD with a 12-month term

• The annual percentage yield on a two-year certificate of deposit is 1.75%.

• APY of 1.90% on a 3-year CD

To open an account with Bankwell, submit an application in person. To facilitate the change, Bankwell Bank offers a switch kit.

County's Original Bank

First County Bank not only has checking accounts with a ton of extra features, but they also have lending products. If your monthly average balance in your FirstAccess Checking account is at least $100, we'll never charge you a maintenance fee. BaZing's ValueAccess Checking, which includes identity theft protection and other perks, costs just per month.

• Promotional prices on goods

• Security for Mobile Devices

• Abroad Security

• Produce coupons

• Price reductions on medicines and medical care

In order to open an account, simply visit any First County Bank branch.

The Bank of Fairfield County

Fairfield County Bank offers health savings accounts that are free of the maintenance fees that regular checking accounts incur. With an All Access Checking Account, you can avoid paying the monthly fee if you do the following each month instead of receiving an ATM rebate:

• Make at least two bill payments using Fairfield County Bank's online banking and bill payment service, Connect24.

• Make at least eight purchases using your debit card.

The minimum opening deposit for a savings account at Fairfield County Bank is $500. If you have a high-deductible health insurance plan, you may also be eligible to open an HSA to save money for future medical costs.

Apply for a bank account at any Fairfield County branch.

Click here for more information about selecting a high-yield savings account: a href="MY_REDIRECT_PREFIX" target="_blank" rel="noreferrer noopener">https://www.gobankingrates.com/banking/insider-tips-choose-best-bank/br>

GOBankingRates used the following criteria to determine the best banks in each state: (1) asset size, with a minimum of $100 million in assets held as reported by the FDIC; (2) monthly checking account service fee; and (3) savings account annual percentage rate. rate, which was either a set percentage or the bank's lowest savings account rate tier; (4) bank accessibility, based on an approximation of the number of branches; and (5) products, with banks being scored on selection of products offered, such as auto loans, mortgage loans, credit cards, and so on. services including insurance and investment

Information used to create this ranking was collected from and double-checked against official school websites between September and December. Sept. 21 and 21 26, 2017 It is up to the individual banks to decide on their rates, terms, and conditions. Minimum opening deposit used to calculate APY. It's possible that some of the interest rates listed are for a limited time only or are part of a promotion, and that there are other requirements that must be met to qualify for those rates. Availability and pricing could vary by location. Before registering for an account, be sure to read the stipulations.

GOBankingRates is the owner of the popular personal finance and interest rate ClientSpy, Inc. , a digital advertising agency that caters to the needs of major financial institutions ConsumerTrack, Inc. has banking relationships with some of the institutions ranked here. which works with over a hundred different banks and credit unions across the country and online No company or organization, client or otherwise, paid to be included in or ranked in any particular way.

Related: 2018's Top Financial Institutions

This piece was originally published on GOBankingRates.com under the title Best Banks in Connecticut.