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If you live in Iowa, this list of the best banks is for you. We’ve included several banks you may be familiar with and some you probably haven’t heard of.
The best bank accounts are as important as staple foods like corn and pork that support Iowa’s economy. Even savings accounts mirror seeds you plant that grow and sprout in the fall.
Our list of the best banks in Iowa includes several accounts you can open to manage your finances efficiently. These banks also offer other financial products, such as savings and money market accounts, CDs, business banking, and investment accounts.
Are you ready to learn more about the best banks in Iowa? Let’s get started!
14 Best Banks in Iowa
The banks below serve Iowa’s residents in various ways. Check out this list of banks and see which banks you like offer welcome or sign-up bonuses like the checking accounts below.
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Best for liability protection
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Best for cashback rewards
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Best for APY
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Best for mobile banking
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Best for building credit
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MMG Rating:
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MMG Rating:
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MMG Rating:
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MMG Rating:
3.9
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MMG Rating:
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Monthly fee: $12
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Monthly fee: $0
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Monthly fee: $0
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Monthly fee: $0
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Monthly fee: $0
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1. Affinity Credit Union
You don’t have to bank with a traditional financial institution to open some of the best bank accounts. In fact, many of the most popular credit unions offer the best banking apps for managing your money from the comfort of your home.
Affinity Credit Union offers online and mobile banking and various other financial products and services. These include checking and savings accounts.
The New Beginning checking account is perfect for those looking to improve their banking history. With a $5 opening deposit, you can set the record straight about how you handle money.
If you live or work in the following counties, you’re eligible for membership at Affinity Credit Union:
- Polk
- Boone
- Story
- Marshall
- Dallas
- Jasper
- Madison
- Warren
- Marion
- Adams
- Union
- Page
- Taylor
- Ringgold
You can also qualify for membership if you’re an employee of one of the Select Employee Groups. Affinity Credit Union is based in Des Moines, Iowa.
2. Bank Iowa
Choose from five of the best checking accounts with Bank Iowa. Two of these accounts have no minimum balance requirements or monthly fees.
You’ll need at least $10 to open a Bank Iowa checking account. The bank also offers home and personal loans, CDs, savings accounts, and money market accounts.
Bank Iowa operates branches in five regions, though you won’t find any physical locations in Cedar Rapids. All checking accounts come with complimentary identity theft services.
3. Bankers Trust Company
You can waive the monthly maintenance fee if you have 12 debit card transactions each month and can deposit $25 into your new Bankers Trust Company account. This account doesn’t require a minimum balance either.
Bankers Trust Company offers competitive savings, checking, and CD rates. It’s based in Des Moines, Iowa, and operates in Arizona.
In addition to its checking accounts, Bankers Trust Company offers several accounts with tiered interest rates. You may earn a respectable welcome bonus, depending on which account you open.
If you travel and need money, Bankers Trust Company works with Allpoint and MoneyPass networks for free ATM access.
4. Collins Credit Union
You can find Collins Credit Union locations in the following Iowa cities:
- Cedar Rapids
- Asbury
- Clive
- Dubuque
- Johnston
- North Liberty
- Des Moines
- Iowa City
- Cedar Falls
- Marion
Collins Credit Union membership requires employment through select employer groups or an immediate family member already part of the credit union. You can also live or work in several counties to gain membership.
If you’re looking for a second-chance checking account, Collins Credit Union’s Take2 account has a $50 opening deposit and a $9.95 monthly fee. If you keep this account in good standing for a year, you can upgrade to a standard checking account.
Collins Credit Union also offers online and mobile banking. You can deposit checks with your smartphone as well.
5. Community 1st Credit Union
You’ll find competitive rates that rival the largest banks in the U.S. at Community 1st Credit Union. This credit union has low minimum balance requirements and plenty of accounts.
Community 1st Credit Union is based in central Iowa and has branches in Des Moines and Cedar Rapids. It is also NCUA-insured and offers money market accounts, IRAs, and CDs.
The only drawback to this credit union is that you must visit a branch to open an account. You can’t open one online, though this credit union does offer mobile and online banking.
Community 1st Credit Union also lets you link your savings account to your checking account for easy transfers.
6. Dubuque Bank and Trust Company
This bank offers four personal checking accounts you can choose from, including:
- Cash Rewards Checking
- Free Checking with eStatements
- Signature Series Checking
- Money Manager 5000
These accounts require a $25 opening deposit. However, you can waive the monthly fee if you sign up for eStatements instead of paper ones.
Dubuque Bank and Trust Company has locations in Epworth, Farley, Holy Cross, and Dubuque.
7. Exchange State Bank
If you’re looking for the best bank accounts because you’ve had issues in the past, look at Exchange State Bank’s policy for new account holders. To open an account, you don’t have to submit to a Telecheck, ChexSystems, EWS, or credit check.
However, you will need at least two forms of identification to open an account. You can visit many locations in Martelle or Springville, Iowa, to open your account.
Our Town Checking is one of the most popular accounts at this bank. There’s no annual fee for the free debit card, no monthly fees for the account, and no fees for paper copies of your bank statements.
8. Fidelity Bank & Trust
There are 30 Fidelity Bank & Trust branches in northeast Iowa, southwest Wisconsin, and northwest Illinois. This bank also offers online and mobile banking.
Checking accounts come with a $50 opening balance and no monthly fees or minimum balance requirements. You can also access the SHAZAM ATM network for free.
Fidelity Bank & Trust offers personalized financial guidance and financial adviser services. You can also add a photo to your debit card with myPIC.
Regarding interest rates, Fidelity Bank & Trust offers competitive APYs on select checking, savings, and money market accounts. You can also set up specialized savings accounts for holidays or your kids.
9. Grinnell State Bank
This bank operates four branches in Marengo, Polk City, Johnston, and Grinnell. It is headquartered in its namesake city and offers personal and business banking services.
If you have at least $100 in your account, you won’t pay a monthly fee with Grinnell State Bank. This bank also requires a $100 minimum deposit, so waiving the monthly fee is easy.
You can open a new account online or by visiting a branch. This FDIC-insured bank also offers CDs, investment accounts, loans, and savings accounts.
10. Hills Bank and Trust Company
While you are subject to a credit check if you apply for an account with Hills Bank and Trust Company, this bank offers several perks that make it worth the sacrifice of a few points. Hills Bank and Trust Company has five locations in Cedar Rapids and Marion, Iowa.
Choose from eight different types of checking accounts with this bank. Free Checking is free, as the name gives away, with no monthly fees or minimum balance requirements.
Regardless of which checking account you open, you can manage it online and via the mobile app. Most accounts come with unlimited debit card transactions and no fees for out-of-network ATM transactions.
Hills Bank and Trust Company partners with SHAZAM and MoneyPass ATMs, so you’re sure to find an ATM near you within the network. You can also earn a respectable APY on your checking account balance.
11. MidWestOne Bank
Colorado, Minnesota, Iowa, Wisconsin, and Florida all host MidWestOne Banks, with 45 branches in total nationwide. This bank is known for exceptional customer service and great rates on loans.
MidWestOne Bank offers personal and auto loans, money market and savings accounts, and CDs. Most checking accounts require a $100 minimum opening deposit.
This bank also works with MoneyPass to offer tens of thousands of free ATMs. You can also use the Bank Your Change program to automatically round up your debit card purchases to add to your savings balance.
12. Midwest Heritage Bank
Midwest Heritage Bank is part of the Hy-Vee family, which hosts nearly 300 stores nationwide. You’ll receive a similar level of customer service as you would with other banks in Iowa.
This bank offers checking and savings accounts, insurance and investment services, and auto loans. You can also obtain a mortgage loan through Midwest Heritage Bank.
13. Northwest Bank
You can find Northwest Bank locations in Nebraska and Iowa. This bank, headquartered in Spencer, Iowa, has made an impression on the local community by offering quality customer service.
Northwest Bank offers welcome bonuses on its accounts year-round. Most accounts require a $10 opening deposit, but otherwise, you don’t pay a monthly fee.
There are no minimum balance requirements for these accounts either. You can access any MoneyPass ATM for free and earn a small percentage on your checking account balance.
Northwest Bank also offers cashback on debit card purchases. You can also open a CD, money market account, or savings account to increase your savings.
You can set up bill pay from your online account or through the mobile app. You can also pay back your friends and family with Zelle.
14. West Bank
This Iowan bank was founded in 1893 and operates six branches in the state. It’s also heavily involved in the community and offers several financial products and services to support life’s endeavors.
West Bank offers checking and savings accounts, personal loans, credit cards, mortgages, home equity lines of credit (HELOCs), and business banking. If you’re looking for an ally to help you bank, check out West Bank’s website or visit a branch to open your new account.
FAQs
Some of the best banks in Iowa include Northwest Bank, MidWestOne Bank, West Bank, and Grinnell State Bank. The best credit unions include Affinity Credit Union, Community 1st Credit Union, and Collins Credit Union.
To open a bank account in Iowa, you need a government ID, your Social Security number, and proof of a mailing address. Depending on which bank and account(s) you open, you may also need an opening deposit.
Dubuque Bank and Trust Company and Hills Bank and Trust Company offer free checking accounts. You can find other free checking accounts in Iowa, some of which require you to meet specific requirements to waive the monthly fees.
Keep Your Money Safe in the Hawkeye State
Iowa is known for many things, from the pork and corn that keep its economy alive to the Native American heritage it proudly displays. You can also find many of the best banks in Iowa, regardless of the particular services you need.
We hope this article helps you find the best banks in Iowa that make a difference in your life. As much as we all like to think that money isn’t everything, it certainly helps to have banks on your side that offer life-changing financial products and services.
The best banks and credit unions offer Iowa residents personalized services and an experience that lets them know they’re valuable. Superior customer service almost always trumps the highest APYs or welcome bonuses.
Which of the best banks in Iowa will you choose?
A free account with unlimited ATM fee reimbursements. You don't have to worry about keeping a minimum balance with Axos' Rewards Checking. As with the bank's other checking accounts, there are no monthly fees, and all fees charged by domestic ATM operators are reimbursed. Axos doesn't charge any ATM fees itself.
