14 Best Banks in Oregon in 2024

Oregon residents don’t have to pay sales tax and can take advantage of the best banks in the state. Will your favorite bank make the list?

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Did you know that Umpqua Bank is the largest bank in Oregon, with over 300 branches in the state? This Oregon-based bank recently acquired Columbia Bank, further adding to its significant presence in the Beaver State. 

Large local banks can make banking in any state that much easier. When you know the people you bank with and enjoy the bank's benefits, there’s no reason to switch banks. 

At the same time, you might be in the mood for switching banks if you’re looking for a change. The list of best banks in Oregon below can help you select a few candidates and weed out others. 

Are you ready to learn more about the best banks in Oregon? Let’s get started!

14 Best Banks in Oregon 

You’ll find some of the best bank account bonuses at the best banks in Oregon. These perks may not always be found in monetary value, either. 

1. Chase

Chase is a full-service national bank that offers a wide range of financial products and services. This national bank provides reward credit cards, checking accounts, savings accounts, retirement accounts, investment services, mortgage options, and various types of loans.

As a modern bank, Chase offers online and mobile banking. Chase provides numerous account options, many offering the opportunity to waive monthly fees if specific requirements are met.

One of Chase's most popular offerings is the Chase Total Checking® account, which has several perks and benefits. Customers opening this account can enjoy a welcome bonus when setting up direct deposit. 

In addition, Chase offers the convenience of Zelle. Customers have two options to avoid the monthly fee associated with the Chase Total Checking® account: 

  1. Maintain a minimum balance of $1,500. 
  2. Have at least $500 in direct deposits.

Chase is known for its robust banking services and commitment to customer satisfaction, making it a popular choice for individuals seeking the best checking accounts and comprehensive banking solutions.

Here are some of Chase's most popular accounts and ongoing promotions.

Earn $300 bonus
Earn $100 bonus
Earn $100 bonus
MMG Rating:
5.0
MMG Rating:
4.9
MMG Rating:
4.5
MMG Rating:
4.5
MMG Rating:
4.9

If you’re new to Chase and open a Chase Total Checking® account, you can earn up to a $300 welcome bonus. To complete the requirements for this consumer checking account, set up a direct deposit within 90 days. You’ll receive your bonus within 15 business days.

If it’s a business bank account you’re looking for, look no further than the Chase Business Complete Checking® account that allows you to earn up to a $300 bonus with qualifying activities.

A $100 bonus is yours if you open a Chase Secure Banking℠ account and complete 10 qualifying transactions within 60 days. Once you complete the requirements, you should receive your Chase Secure Banking bonus within 15 days.

Open a Chase College Checking℠ account to earn a $100 bonus. To qualify for this promotion, you’ll need to make at least 10 transactions within the first 60 days between debit card transactions. You’ll receive your bonus within 15 business days.

The Chase Private Client experience unlocks access to lower rates when financing a big purchase and connects you with a private banker and investment advisor whenever you like. Save time and money with better banking benefits and special services, plus a $3,000 welcome bonus.

Earn $300 bonus
MMG Rating:
5.0

If you’re new to Chase and open a Chase Total Checking® account, you can earn up to a $300 welcome bonus. To complete the requirements for this consumer checking account, set up a direct deposit within 90 days. You’ll receive your bonus within 15 business days.

Earn $300 bonus
MMG Rating:
4.9

If it’s a business bank account you’re looking for, look no further than the Chase Business Complete Checking® account that allows you to earn up to a $300 bonus with qualifying activities.

Earn $100 bonus
MMG Rating:
4.5

A $100 bonus is yours if you open a Chase Secure Banking℠ account and complete 10 qualifying transactions within 60 days. Once you complete the requirements, you should receive your Chase Secure Banking bonus within 15 days.

Earn $100 bonus
MMG Rating:
4.5

Open a Chase College Checking℠ account to earn a $100 bonus. To qualify for this promotion, you’ll need to make at least 10 transactions within the first 60 days between debit card transactions. You’ll receive your bonus within 15 business days.

Earn $3,000 bonus
MMG Rating:
4.9

The Chase Private Client experience unlocks access to lower rates when financing a big purchase and connects you with a private banker and investment advisor whenever you like. Save time and money with better banking benefits and special services, plus a $3,000 welcome bonus.

2. Banner Bank 

Banner Bank is a community bank with a strong presence in the Pacific Northwest, offering various financial products and services. There are 35 branches in Oregon and 150 across California, Idaho, Washington, and Oregon.  

Banner Bank is known for its commitment to delivering a high level of customer service. You must make a $50 minimum deposit to open an account at Banner Bank. 

However, it's worth noting that the bank's savings accounts have a very low APY. Some of Banner Bank’s accounts also have a high minimum deposit requirement. 

Banner Bank offers several financial products, including checking and savings accounts. You can also find IRAs, CDs, credit cards, personal loans, home and auto loans, and student loans at Banner Bank. 

3. Columbia Bank 

As a community bank, Columbia Bank operates an extensive network of 150 branches across Oregon, Washington, and Idaho. Columbia Bank strives to meet its customers' personal and business banking requirements. 

You can find various financial services at Columbia Bank. These include checking and savings accounts, loans (including personal loans), credit cards, and wealth management solutions.

It is important to note that Columbia Bank has recently undergone a change, as Umpqua Bank acquired it in March of 2023. This acquisition may lead to potential changes in operations and offerings. 

Keep reading to learn more about Umpqua Bank. This bank ranks as another one of the best banks in Oregon. 

4. Consolidated Community Credit Union 

Consolidated Community Credit Union provides various checking account options to suit varying needs. Their offerings range from the entry-level Simple Checking account to the more advanced Peak Checking account.

The Simple Checking account only requires a minimum deposit of $5 and has no minimum balance requirements. With the Simple Checking account, members enjoy 24/7 access to their funds through free online tools, mobile banking, and the convenience of remote check deposits

Consolidated Community Credit Union offers the Peak Checking account for those looking to maximize their savings. Opening this account requires a minimum deposit of $25, and you can earn an impressive APY on your balance. 

Additionally, Consolidated Community Credit Union members have access to a vast network of over 30,000 ATMs. These are just a few reasons it’s one of the best banks in Oregon. 

5. Evergreen Federal Bank 

This community bank has been in business for over 85 years. Evergreen Federal Bank is a local Oregon bank offering traditional and online and mobile banking services. 

You can find several standard deposit accounts at Evergreen Federal Bank, including checking and savings accounts. This bank also offers CDs and home loans to Oregon residents. 

6. HomeStreet Bank 

HomeStreet Bank, a full-service bank established in 1921, offers various checking account options to meet customer preferences. The selection includes Choice Checking, Select Checking, and Premium Select Checking. 

HomeStreet Bank's checking accounts are designed to be accessible, with no monthly fees and a minimum deposit requirement of $100. Customers can enjoy the convenience of free online and mobile banking services. 

Additionally, a free Visa debit card is provided for easy transactions. HomeStreet Bank offers some of the best money market accounts with decent APYs. 

HomeStreet Bank utilizes the MoneyPass network for ATM access, providing customers with widespread ATM coverage and flexibility. In addition to checking accounts, HomeStreet Bank offers CDs, IRAs, personal loans, mortgages, Home Equity Lines of Credit (HELOCs), and credit cards.

7. KeyBank 

One of the largest banks in the U.S., KeyBank offers a wide range of financial services to cater to various needs. KeyBank's checking accounts have the advantage of no overdraft fees if the charge remains under $20 over the account limit. 

To further support their customers' financial well-being, KeyBank offers a 30-minute Financial Wellness Review. This personalized session allows individuals to discuss their finances and create customized plans to achieve their financial goals effectively.

KeyBank's comprehensive suite of services includes checking accounts, savings accounts, CDs, loans, credit cards, IRAs, mutual funds, Education Savings plans, and HSAs. This full-service bank ranks high among the best banks in Oregon. 

8. PNC Bank 

PNC Bank is a well-established national bank with a strong presence in Oregon. Offering a comprehensive suite of financial services, PNC Bank caters to the diverse needs of its customers.

The bank provides various banking solutions, including checking and savings accounts and convenient online and mobile banking platforms. PNC Bank also offers opportunities to waive monthly fees by meeting specific requirements.

PNC Bank stands out with its 24-hour grace period for overdrafts. Additionally, the bank offers specialized banking services tailored to students and military personnel.

In addition to its banking services, PNC Bank offers credit cards, home loans, auto loans, personal loans, and wealth management solutions. This comprehensive range of products and services positions PNC Bank as one of the best national banks and one of the best banks in Oregon.

9. Point West Credit Union 

Point West Credit Union offers a wealth of financial resources to its members. Their checking accounts have no minimum balance requirements.

Point West Credit Union offers the Fresh Start Checking account for individuals who have faced challenges with their checking accounts. While this account carries a $10 monthly fee, it allows individuals to rebuild their banking history and regain financial stability.

As members progress in their financial journey, they can upgrade to fee-free standard checking or an interest-bearing checking account. These upgraded accounts offer additional benefits, such as the absence of monthly fees and the opportunity to earn interest on the account balance. 

10. Riverview Community Bank 

Riverview Community Bank is a small bank in business for over 100 years. You can access Riverview Community Bank’s services from four branches within Oregon. 

This local bank offers many financial services, including checking, savings, and money market accounts. Riverview Community Bank specializes in mortgages, home equity loans, personal loans, credit cards, CDs, and IRAs. 

11. Summit Bank 

Summit Bank, established in 2004, is one of the pioneering independent banks in Oregon. While the bank specializes in business banking, it also provides various personal banking services.

This Oregon-based bank offers various personal banking solutions, including: 

  • Checking accounts
  • Savings accounts
  • Online bill pay
  • Home Equity Lines of Credit (HELOCs)
  • Personal loans
  • Mortgages 

With its expertise in business banking, Summit Bank brings a unique perspective and tailored services to its personal banking customers. 

12. Umpqua Bank 

Umpqua Bank, a local bank headquartered in Oregon, offers various account options to cater to diverse banking needs. With a minimum deposit requirement of $25, individuals can easily open accounts.

While Umpqua Bank provides personal and business banking services, the APYs for their checking and savings accounts may be relatively low. Umpqua Bank has 100 branches in Oregon and additional branches in California, Nevada, Washington, and Idaho.

Umpqua Bank's account fees can be waived by meeting certain balance or transaction limits. For instance, the Embark Checking account carries a $3 monthly fee, which can be avoided by opting for eStatements. 

Customers aged 62 or older are exempt from paper statement fees. Maintaining a balance of $2,500 or more qualifies customers for $10 in ATM rebates each month.

Umpqua Bank also offers retirement accounts, loans, and college savings plans to help individuals prepare for the future. By opening a Grow Savings account and linking it to a checking account, customers can waive the monthly savings account fee by making regular monthly transfers.

13. WaFd Bank 

WaFd Bank, which has operated since 1917, offers various banking services. This Oregon-based bank requires a $25 minimum deposit to open most accounts. 

The bank offers a Statement Savings account with a decent APY when you maintain a $100 minimum balance. By keeping this balance, account holders can also waive the monthly fee associated with the account.

Minors are welcomed at WaFd Bank, as they can open a savings account with a low minimum deposit requirement of $10. This account allows young savers to develop healthy financial habits early.

In addition to savings accounts, WaFd Bank offers a range of other financial products, including credit cards, checking accounts, mortgages, and loans. The bank also provides options for CDs and IRAs.

14. Zions Bank 

An established financial institution with a robust presence on the West Coast, Zions Bank has been serving customers since 1873. Emphasizing modern convenience, the bank provides online and mobile banking services and a nationwide ATM network.

Zions Bank offers a comprehensive range of financial products to meet various needs. These include checking accounts, savings accounts, CDs, IRAs, mortgages, and credit cards. This Oregon bank also caters to young savers with dedicated kids' savings accounts.

FAQs

Which of the best banks in Oregon offer free checking accounts? 

Umpqua Bank and Banner Bank offer free checking accounts. You can earn a free checking account at some of the other best banks in Oregon if you meet specific requirements to waive the monthly fees. 

How many bank accounts can you have in Oregon?

You can have as many bank accounts in Oregon as you want. Many people start with one or two, but you can open as many as you like if you can keep track of them all. 

What do you need to open a bank account in Oregon? 

You need a form of identification, your Social Security number, proof of mailing address, and an initial deposit to open a bank account in Oregon. Some banks waive the need for an initial deposit. 

Bank Options as Deep as Crater Lake 

Banking in Oregon opens the door to many financial opportunities. Each local, community, and regional bank offers Oregon residents access to financial products and services they can use to achieve their goals. 

We hope this article helps you find some of the best banks in Oregon. These banks care about their customers and offer personalized service to make a difference. 

Oregon offers a wide range of financial institutions between credit unions and traditional banks. You’ll find everything here, from national banks like Chase to community credit unions like Point West Credit Union.  

Now that you know more about Oregon's best banks, will you switch? Or will you stay with your bank because you know you’ve got a good thing going? 

About the author

Brian Meiggs
Hi, I'm Brian Meiggs! A personal finance expert, entrepreneur, and the founder of My Millennial Guide. My drive is to help others unlock the wealth of freedom and pave the path to financial success. With my bachelor's degree in finance, I help millennials follow the smart money in order to increase their earning potential and start building wealth for the future. I write regularly about side hustles, investing, and general personal finance topics aimed to help anyone earn more, pay off debt, and reach financial freedom. I have been quoted in major publications including Business Insider, Yahoo Finance, NASDAQ, Discover, GoDaddy, BiggerPockets, Fox News, Debt.com, Quick Sprout, Money Geek, MSN Money and many more!