Crediful is committed to helping you make smarter financial decisions by presenting you with the best information possible. We are able to present this information to you free of charge because some of the companies featured on our site compensate us.
Compensation may impact how and where products appear on this site, including the order in which they may appear within listing categories.
While Crediful does not feature every company, financial product, or offer available, we are proud that the information, reviews, guides, and other tools found on our site are entirely objective and available to you free of charge.
Our #1 priority is you, our reader. We will never ever recommend a product or service that we wouldn’t use ourselves. Our reviews are based on independent research.
What does this mean for you? It’s simple: we will never steer you in the wrong direction just because a company offers to pay us.
With a thriving oil industry and bustling tourist population, Alaska is a great place to live and work. As with most states, you’ll find a combination of banking options in Alaska, from national banks to local banks and credit unions.
But finding the right bank can take time. The list below combines local banks, online banks, national banks, and credit unions.
11 Best Banks in Alaska
When it comes to banking in the Last Frontier, there are plenty of options to choose from. Discover the best banks in Alaska with our comprehensive list.
First National Bank Alaska, with over a century of history serving Alaskans, has grown from its first branch in Anchorage to a widespread network across the state, reaching communities in Fairbanks, Kodiak, Wasilla, and beyond.
It offers various checking accounts to cater to diverse groups including teens and military personnel, alongside an impressive selection of savings and money market accounts to suit different financial objectives.
Customers opening a Direct Deposit Checking account can enjoy the waiver of the $7 monthly service fee with qualifying direct deposits.
First National Bank Alaska further enriches its banking experience with additional perks such as a complimentary checkbook and Health Savings Accounts.
SoFi brings a strong online banking option to Alaska with its Checking & Savings account, offering convenience, high yields, and no monthly fees.
Customers can earn up to 3.80% APY on savings and 0.50% APY on checking balances. Early direct deposit allows users to access their paycheck up to two days early, providing added flexibility.
Security is a priority, with FDIC insurance covering up to $2 million. SoFi also offers overdraft protection up to $50 with no fees for accounts receiving direct deposits.
New customers can qualify for a welcome bonus of $50 to $300, depending on the deposit amount. Additionally, users can access over 55,000 Allpoint® ATMs nationwide, ensuring convenient cash withdrawals whenever needed.
Northrim Bank is a community-based bank with branches only in Alaska. With 17 branches spanning Anchorage, Eagle River, Fairbanks, Juneau, Ketchikan, Kodiak, Nome, Sitka, Soldotna, and Wasilla, accessibility for Alaskans is ensured.
Northrim’s checking account stands out for its flexibility, offering benefits such as waived fees with direct paycheck deposits and the opportunity to earn interest based on your balance.
Interest rates can vary by region, so it’s always a good idea to check the latest rates directly with the bank.
Beyond checking accounts, Northrim Bank offers debit and credit cards, education savings accounts (ESAs), health savings accounts (HSAs), money market accounts, certificates of deposit (CDs), IRAs, and tailored investment portfolios.
Additionally, they offer mortgage and personal loan options, making them a well-rounded choice for Alaskans seeking a full-service banking experience.
Upgrade offers a strong online banking option for Alaska residents, providing a fee-free checking account with valuable perks.
The Rewards Checking Plus account has no monthly fees, no minimum balance requirements, and no overdraft fees.
Customers can also earn up to 2% cash back on everyday debit card purchases with a qualifying direct deposit of $1,000 or more.
For added convenience, Upgrade provides early direct deposit, allowing users to access their paychecks up to two days in advance.
Customers also benefit from access to over 55,000 fee-free ATMs nationwide through the Allpoint® ATM Network, with convenient locations at major retailers like Walgreens® and CVS Pharmacy®.
Those looking to boost their savings can pair their checking account with a Performance Savings account, which offers an APY of up to 4.02%.
Upgrade provides FDIC insurance coverage up to $250,000 through its banking partner, ensuring your deposits are secure.
Denali State Bank is a favored option for Fairbanks residents seeking a community-focused local bank.
While the majority of its branches are stationed in Fairbanks, customers are not confined to the region thanks to online banking services available through its mobile baking app.
The bank further facilitates easy cash access by offering refunds on up to $25 in ATM withdrawal fees each month.
Denali’s Free Kasasa Cash Checking account is known for offering strong interest rates that reward higher balances, providing excellent value for account holders. Additionally, Denali’s savings accounts are designed to offer competitive returns.
To open a checking account, a minimum deposit of $100 is required, with the added advantage of no monthly maintenance fees.
Global Credit Union, formerly Alaska Federal Credit Union, stands as a prime choice for frequent travelers in North America due to its extensive branch network and two flexible checking accounts: Core Checking and Latitude Checking.
Joining is straightforward with a $5 membership fee and residence in specified areas, including Alaska. Members enjoy the absence of monthly maintenance fees and no minimum deposit.
Customers can benefit from no-fee withdrawals at both Global Credit Union and 55,000 Allpoint ATMs.
Additional advantages include competitive auto loan rates and handy mobile tools for effortless money management, marking it as a user-friendly choice for a wide array of banking consumers.
Wells Fargo, a fixture in the banking landscape since 1852, is a top choice for those seeking a large national bank, with locations spanning from Barrow to Anchorage, AK. New customers can capitalize on a $300 opening bonus currently on offer.
The bank presents a comprehensive array of services beyond basic banking, including mortgages and small business solutions.
While the checking account has a monthly maintenance fee, it can be waived by meeting certain criteria, such as maintaining a $500 daily balance or receiving $500 in qualifying income monthly.
Starting with a $25 opening deposit, customers can access a range of checking accounts, including ones tailored for teens and students, making it a flexible option for various banking consumers.
For those able to maintain a checking balance of $2,000 or more, MVFCU offers favorable terms with no monthly fees or minimum balance requirements, making it a convenient option for account holders.
MVFCU’s savings accounts also provide attractive earning potential, with competitive interest rates available based on the balance maintained.
The credit union offers a wide range of services, including life insurance and small business accounts, as well as special savings options like Christmas club and New Child accounts. However, its limited ATM network in Alaska and Hawaii may be less ideal for frequent cash users.
First Bank of Alaska offers a range of personal checking accounts, including options for teens. While most accounts have monthly fees, those can be waived by meeting balance requirements or setting up direct deposit.
Customers also get fee-free ATM access across Alaska and can choose from savings accounts, personal loans, and mortgages.
For business owners, the bank provides a business checking account with no monthly fee when you maintain a $2,500 balance.
It includes 150 free transactions per month and a free Mastercard debit card, making it a solid option for managing business finances.
First Bank has branches in several Alaskan cities, including Anchorage, Fairbanks, Haines, Juneau, Ketchikan, Petersburg, Sitka, and Wrangell.
All Alaska residents are eligible for membership in Northern Skies Federal Credit Union. You’ll get savings rates above the national average and flexible overdraft fees.
Northern Skies Federal Credit Union opens its membership to all Alaska residents, promising savings rates that surpass the national average and accommodating overdraft fee policies.
The credit union brings forth two distinct checking account options that allow earnings through dividends, aiding in retirement planning. A minimal hurdle of a $5 monthly fee is effortlessly waived with either a $100 minimum balance or setting up direct deposits.
With a modest $5 as the initial deposit requirement, members can leverage a vast network of 30,000 fee-free ATMs globally.
The checking accounts stand out with a remarkable up to 5.00% APY. Moreover, clients have access to competitive loan rates and tools for adept management of both personal and business assets.
Residents in Fairbanks and Delta Junction can opt for Mt. McKinley Bank, with its five branches and 10 specialized ATMs in the area.
The bank offers a wide spectrum of services for both personal and business needs, including a health savings account and money market account, as well as loans and IRAs.
Customers can manage their finances round the clock through online banking, facilitated by a complimentary Visa debit card accompanying every checking account.
Additionally, clients benefit from automatic overdraft transfers between linked accounts and e-Statements.
Free ATM withdrawals at all the bank’s ATMs, coupled with no monthly checking account fees, further enhance the banking experience. The availability of safe deposit boxes and IRA options add to the portfolio of perks offered.
How to Choose the Best Bank in Alaska
When it comes to finding the best banks in Alaska, understanding your unique needs and preferences can make the process smoother. Think about the services you want, how much you want to pay in fees, and where you need bank branches to be. Here are some other factors to consider:
Minimum balance: Check to see if a bank requires you to maintain a certain balance in your account. Some banks don’t have such requirements. This can affect your flexibility in managing your money.
Opening deposit: Determine the initial deposit required to open a bank account, as some financial institutions may require a larger sum to get started.
Fees: Be aware of any monthly maintenance fees associated with checking accounts, and understand the terms and conditions to avoid these charges.
Mobile banking: Whether you go with an online bank or a brick-and-mortar bank with a branch down the street, conveniences like mobile check deposit and bill pay can save time.
Interest rates: Compare the annual percentage yield (APY) offered by different banks on checking and savings accounts to maximize your returns.
Cash accessibility: Ensure that your chosen bank provides convenient options for depositing and withdrawing cash when necessary.
Extras: Consider if a bank offers additional banking services, such as investment accounts, wealth management services, or certificates of deposit (CDs), to meet your future financial needs.
Bottom Line
The best banks in Alaska stand out by offering not only modern digital tools, such as online banking and mobile apps, but also by prioritizing the financial well-being of their customers. It’s essential to look beyond just convenience.
A standout bank in Alaska provides advantageous features like competitive interest rates and low fees, while also deeply embedding itself in the community. As you evaluate banking options in the state, seek a financial institution that meets your everyday banking needs, aligns with your goals, and understands the true Alaskan spirit.
Stephanie Faris is a professional finance writer with more than a decade of experience. Her work has been featured on a variety of top finance sites, including Money Under 30, GoBankingRates, Retirable, Sapling, and Benzinga.
