The Ultimate Guide to Banks & Credit Unions in the Phoenix Area

Feb 29, 2024

If you're a resident of the Phoenix area or planning to move here, you'll want to know about the various banking options available. The Phoenix metropolitan area is home to a wide range of banks and credit unions, each offering different services and benefits. In this guide, we'll explore the banking landscape in Phoenix and help you make informed choices about where to manage your finances.

Traditional banks

Wells Fargo

Wells Fargo is one of the largest and most well-known banks in the United States, with a strong presence in Phoenix. They offer a wide range of financial services, including checking and savings accounts, credit cards, mortgages, and investment services. If you prefer the convenience of a bank with a vast branch and ATM network, Wells Fargo might be a good choice.

Bank of America

Bank of America is another major national bank with a significant presence in Phoenix. They offer various banking and financial products, as well as online and mobile banking services. You can find Bank of America branches and ATMs throughout the area, making it easy to access your accounts.


Chase, a subsidiary of JPMorgan Chase & Co., is known for its robust online and mobile banking services. They have numerous branches and ATMs in the Phoenix area, making it a convenient choice for those who want both digital and in-person banking options.

Credit unions

Desert Financial Credit Union

Desert Financial is one of the largest and most established credit unions in Arizona. They offer a variety of products, from checking and savings accounts to auto loans and mortgages. With branches across the Phoenix area, Desert Financial is easily accessible for in-person banking.

Vantage West Credit Union

Vantage West Credit Union is another local option that serves residents of Phoenix and Southern Arizona. They offer personal and business banking services, as well as specialized products for healthcare professionals. Membership eligibility is broad, including those who live, work, worship, or attend school in the area.

Arizona Financial Credit Union

Arizona Financial Credit Union, with its strong local roots, provides a range of financial services – including both consumer and small business banking services. Arizona Financial offers competitive rates on loans, credit cards and savings accounts, making them a one-stop shop for most of your banking needs. Membership is available to those who live, work, or worship in the Phoenix area and across the state of Arizona, making it a community-oriented option.

Online banks

Ally Bank

Online banks like Ally offer high-yield savings accounts, competitive interest rates, and low fees. Ally's online platform is user-friendly and provides 24/7 customer support. While they don't have physical branches, you can access your accounts from anywhere with internet access.


Chime is a popular online bank that focuses on simplicity and mobile banking. They offer a no-fee checking account with features like early direct deposit and a savings account with a competitive interest rate. Chime is a great choice for those who prefer managing their finances primarily through a mobile app.

Specialized banks


FirstBank is a Colorado-based bank that has expanded into the Phoenix area. They offer a variety of personal and business banking services. FirstBank is known for its community involvement and customer-centric approach.

Western Alliance Bank

Western Alliance Bank is a regional bank with a strong presence in Arizona. They provide a range of financial solutions for businesses and individuals, including commercial banking, personal banking, and wealth management services.

Factors to consider when choosing a bank

  • Location: Determine how important it is to have physical branches and ATMs nearby. Traditional banks like Wells Fargo and Bank of America may be more convenient in this regard.
  • Fees: Understand the fee structure of the bank, including monthly maintenance fees, ATM fees, and overdraft charges. Credit unions and online banks often have more competitive fee structures.
  • Products & services: Consider the specific financial products and services you need, such as checking accounts, savings accounts, loans, and investment options. Choose a bank that offers what you require.
  • Interest rates: Compare the interest rates on savings accounts, certificates of deposit (CDs), and loans. Credit unions and online banks often provide more competitive rates.
  • Online & mobile banking: Evaluate the bank's online and mobile banking capabilities, especially if you prefer to do most of your banking digitally.
  • Customer service: Read reviews and consider the bank's reputation for customer service. You want a bank that is responsive and helpful when you need assistance.
  • Membership eligibility: If you're considering a credit union, make sure you meet the membership criteria. Credit unions often have more community-oriented requirements.

The Phoenix area, and Arizona as a whole, offers a wide variety of banking options to suit your financial needs and preferences. Whether you prefer a traditional bank with a vast branch network, a community-focused credit union, or a cutting-edge online bank, there's a bank in Phoenix for you.

Why you should consider Arizona Financial

Among the numerous choices, Arizona Financial Credit Union stands out as one of the local consumers' best options for several compelling reasons. Arizona Financial is deeply rooted in the Phoenix community, with a strong commitment to serving its residents. This credit union offers a broad spectrum of financial products and services, designed to meet the unique needs of its members. Whether you're seeking personal banking solutions, home loans, or assistance with your business finances, Arizona Financial has you covered.

What truly sets Arizona Financial apart is its community-oriented approach and commitment to its members. Membership eligibility is open to those who live, work, or worship across the state of Arizona, fostering a sense of belonging and local support. By choosing Arizona Financial, you're not just selecting a financial institution; you're becoming part of a cooperative that prioritizes the financial well-being of its members above all else.

Additionally, Arizona Financial is known for its competitive rates, low fees, and excellent member service. They understand the unique financial landscape of the Phoenix area and strive to offer tailored solutions to help you achieve your financial goals.

Whether you're a long-time Phoenix resident or new to the Valley of the Sun, Arizona Financial provides a trusted and community-focused option for all your banking needs. By considering your individual banking requirements and the factors outlined in this guide, you can make an informed decision on where to manage your finances, with Arizona Financial emerging as one of the top choices for local consumers.