Financial institutions play a crucial role in the health of every economy.

These include banks, credit unions, investment banks, brokerage firms, investment companies, and loan associations. In this article, we’re more concerned about the best banks in Minnesota.

Here, you’ll learn about the top-rated banks and basic information about their operations. While some have national coverage, others have a more local presence.

With the information provided, you can compare their services to make informed decisions.

Top Minnesota Banks

When it comes to the number of FDIC-insured banks operating in the state of Minnesota, there are about 264. For each of these banks, there are varying levels of innovation.

The best banks are identified by multiple features, including a reasonable interest rate on savings, lower fees, and easy access to funds.

Other features include great online and app-based banking, excellent customer service, and trustworthiness. All of these are vital points to picking the right institution.

Best Bank in Minnesota

In this article, we’ve listed some banks in Minnesota that tick all the features mentioned above and even more.

These deposit money banks are trusted mainly and have been in existence for a long time. However, we must state that this isn’t an exhaustive list of the best banks, as we’ve only mentioned a few for this discussion.

These have been listed in no particular order to include;

i. Wells Fargo

Wells Fargo is a national bank also located in Minnesota.

Its huge workforce quickly places it among the major employers in the state. Some banking services include investing, checking, auto loans, savings & CDs, personal loans, home loans, and credit cards.

This bank quickly makes out a list of the best banks in Minnesota due to the many benefits offered to its clients.

Such include borrowing tips for first-time homebuyers, valuable tools for calculating your debt-to-income ratio, finding ready online banking help, and protection against fraud.

Customers get convenient access to their money, plus the bank offers varying credit cards that suit different needs.

ii. TCF Bank

This bank is headquartered in Minnesota, with approximately 475 branches as of 2020.

True to its name (Treating Customers Fairly), TCF offers fair treatment to all its clients. This financial institution provides various customer-focused services as part of the Huntington National Bank.

Such services include mortgage and personal loans, debit cards, savings, prepaid, cash, checking, online banking, and transfer.

Despite TCF being among the top banks in Minnesota, you’ll do well to find out further details about its standing by making critical comparisons with other banks.

iii. Minnwest Bank

Minnwest prides itself as a doer. This ideal bank is for agricultural, commercial, and personal banking needs.

Minnwest Bank is family-owned and puts the needs of its clients first. Its agricultural services include checking, savings, insurance, cash management, and convenience services.

Personal banking services include categories like checking, savings, loans, mortgage, and convenient services. Under its checking services are Minnwest Classic Checking, Minnwest Digital Checking, Minnwest Platinum Checking, and Minnwest Preferred Checking.

Services issued under its savings category include a certificate of deposit, digital certification of deposit, health savings account, individual retirement accounts, investment savings, money max savings, and thrift savings.

iv. American Bank of the North

This bank offers Minnesotan’s variety of services. These range from business, private, personal, and loan services. Online and mobile banking are also provided.

Under its banking services are several others that include checking & savings, certificates of deposits, and individual retirement accounts.

Other types include visa rewards credit cards, ATM and debit cards, digital wallets, my card statement, gift and travel cards, and order checks. Persons interested in loans have multiple options to choose from.

These include personal, auto, recreational vehicles, and mortgages.

More loan types include construction loans, home equity loans, and home equity lines of credit.

v. Beacon Community Bank

With Beacon Bank, your personal and business banking goals are easily achieved. Personal banking services provided include money market, checking, and savings.

Lending covers home equity. Business banking services include cash management, checking, savings, interest rates, and the money market.

Beacon Community Bank’s personalized services are carefully designed to cater to customer needs. You will have to compare its services with other competitors to see if it’s the right choice for you.

vi. Citizens Independent Bank

This full-service bank offers a variety of banking solutions to clients.

This bank commenced operation in 1950 to build better relationships with its clients. This financial institution prides itself on the level of community involvement.

It has core values, including growing a solid financial base, maintaining client trust, promoting its employees’ personal and professional growth, and demonstrating social responsibilities to its communities.

The bank seeks to build and maintain close customer relationships through customer service.

vii. American Bank of St. Paul

Now American National Bank, this bank offers personal and business services to its esteemed clients. Personal services include personal banking, checking savings, credit cards, personal loans, and private banking.

Clients also benefit from home mortgage loans, personal loans & lines of credit.

For its business banking, businesses get checking, savings, nonprofit banking, credit cards, healthcare banking, and private banking.

Business loans cover small businesses, agriculture, commercial real estate, church growth, specialty financing, and business management.

Business services include make-a-loan-payment, carver legacy accounts, fraud protection, ACH fraud protection, check fraud protection, and ANB go business.

viii. US Bank

US bank is one of the best banks in Minnesota that offers personal banking services, wealth management, business services, corporate & commercial services, and institutional services.

Personal services include bank accounts, credit cards, investing & retirement, and personal loans & lines.

There are also home loans, vehicle loans, and mobile & online services. Business services include business bank accounts, business credit cards, business loans & lines, business payments, and online & mobile banking.

These are some of the best banks in Minnesota. We’ve briefly mentioned the type of services offered, among other things. With these options, you’ll have to pick which serves your needs best.