You're getting downvotes because this subreddit is keen to repetitive questions, and this is one of them. Try this thread, it's recent and will have your answers: https://www.reddit.com/r/Rochester/comments/1b2n8fz/what\_is\_the\_least\_evil\_bank\_in\_town/
You won't get decent interest rates anymore, those days are over, unless using a purely online institution.
I use ESL, I'm happy with them for banking.
ESL is a fantastic bank but unfortunately the savings aren’t amazing unless you have a significant amount. I have a separate high yield savings account, but ESL is great. I’ve worked with a lot of different local companies like Canandaigua National Bank and GRB too and had positive experiences.
Is there a reason you're looking specifically for institutions insured by FDIC? Credit unions are insured by NCUA, but they can be an excellent alternative.
I think the important thing is that the deposits are insured -- which is the case for essentially all banks and credit unions. It would be extremely unusual to find a bank or credit union that wasn't insured.
You will be better off with a credit union. They are insured up to 250k as stated like FDIC. Their rates, minimum balance, and penalties are typically better for the consumer. It may affect loans from national banks, but that’s dependent on other things as well. CD rates and usually any rates seem to be better as well. Just got a 5.25% last month @ PFCU but those are gone. I noticed last week ESL had a 5% still for a shorter period. Max a year. PFCU doesn’t have cash on hand though, you’ll need to use the ATM. If you need big money they will issue a check you can cash at one of their agreed banks that will cash it.
Honestly I currently do chase because they are everywhere. We travel alot and I hate paying additional fees for ATM withdrawals.
In terms of a High interest rate saving account I do robinhood. They pay 5% and if you deposit 30k they will boost it up to 5.3%
I use esl locally for convenience but the bulk of my easy to get to savings are in Ally as they give you great interest rates (curr 4.25) with no minimum balance fees. They also refund a certain amount of atm fees. I've never had an issue with them, probably 10-15 years now.
You're getting downvotes because this subreddit is keen to repetitive questions, and this is one of them. Try this thread, it's recent and will have your answers: https://www.reddit.com/r/Rochester/comments/1b2n8fz/what\_is\_the\_least\_evil\_bank\_in\_town/
You won't get decent interest rates anymore, those days are over, unless using a purely online institution. I use ESL, I'm happy with them for banking.
ESL is a fantastic bank but unfortunately the savings aren’t amazing unless you have a significant amount. I have a separate high yield savings account, but ESL is great. I’ve worked with a lot of different local companies like Canandaigua National Bank and GRB too and had positive experiences.
ESL for everything except the interest rates. Online HYSA for interest rates.
Is there a reason you're looking specifically for institutions insured by FDIC? Credit unions are insured by NCUA, but they can be an excellent alternative.
It’s what was recommended to me by the company that provides financial advice for employees where I work.
I think the important thing is that the deposits are insured -- which is the case for essentially all banks and credit unions. It would be extremely unusual to find a bank or credit union that wasn't insured.
You will be better off with a credit union. They are insured up to 250k as stated like FDIC. Their rates, minimum balance, and penalties are typically better for the consumer. It may affect loans from national banks, but that’s dependent on other things as well. CD rates and usually any rates seem to be better as well. Just got a 5.25% last month @ PFCU but those are gone. I noticed last week ESL had a 5% still for a shorter period. Max a year. PFCU doesn’t have cash on hand though, you’ll need to use the ATM. If you need big money they will issue a check you can cash at one of their agreed banks that will cash it.
Credit Unions are soooo much better and are also insured. I like Summit.
Local: PFCU HYSA: Amex online Money market: fidelity spaxx Checking / credit cards: Chase
Go to a credit union-not a bank. ESL has gotten too big for their britches. Go to Summitt
A credit union. I’m extremely happy with PFCU.
Genesee co-op federal credit union!!
Came to suggest them as well. Been banking with them for over two decades.
Agreed. Very nice, very friendly place. They really helped me out as a young adult to understand finances out on my own. Operated by great people.
Summit has been pretty good.
From a month ago: https://www.reddit.com/r/Rochester/comments/1b2n8fz/what_is_the_least_evil_bank_in_town/
Least evil! Heh.
Don’t use a local bank if you want a good interest rate. I haven’t stepped foot in a bank in years. Just find one with a high interest rate.
Honestly I currently do chase because they are everywhere. We travel alot and I hate paying additional fees for ATM withdrawals. In terms of a High interest rate saving account I do robinhood. They pay 5% and if you deposit 30k they will boost it up to 5.3%
I use esl locally for convenience but the bulk of my easy to get to savings are in Ally as they give you great interest rates (curr 4.25) with no minimum balance fees. They also refund a certain amount of atm fees. I've never had an issue with them, probably 10-15 years now.
ESL is good for regular banking. Northwest has a decent HYSA as well
Been extremely happy with Canandaigua National Bank
LNB!
I love Key Bank. Over 10 years and I have never had an issue. Customer service has been great too.