Best Banks in Oregon: Top 3 Picks for Savings, Checking, and Loans

Are you on the hunt for the very best banks in Oregon?

We have put together all you need to know to make a smart, informed choice…

Updated April 2024

Fact checked by Cody Beecham

Best banks in Oregon featured image

Oregon is home to a wide variety of banking options, offering everything from traditional banks and credit unions to online-only banks.

Whether you’re looking for convenient access to your accounts, competitive interest rates on savings, or access to a wide range of products and services, there’s likely an option in Oregon that fits the bill.

In this article, we’ll take a look at some of the leading banks in Oregon, including their features and benefits.

How We Chose The Best Oregon Banks

We chose the best Oregon banks based on our selection of key criteria, including competitive interest rates, customer service, and access to products and services. We also looked at the most important factors we use to make our own banking decisions such as fees, online banking facilities, and branch locations.

We also took into account customer reviews from sites like TrustPilot and the Better Business Bureau, as well as feedback from our own staff.

The options that we have selected offer competitive rates, great customer service, and a range of features that make them convenient and easy to use. We looked at security measures and the modernity of the technology that each bank offers, so you can be sure your money is safe when banking with any of these Oregon banks.

How To Choose The Perfect Bank Account

When making a choice about which bank to use, it’s important to consider your individual needs (if you’re curious about other Banking groups like Stockman Bank, check out our review here).

Here’s how we think about it:

1. Consider Financial Goals and Needs

Is your primary goal to save money or pay bills? Do you prefer a low-interest savings account or a high-yield checking account? Do you want wealth management and investment services tied in and available?

Knowing what you want from your banking relationship can help you choose the right fit.

You also want to think about the future. For example, if you own a small but growing business, you might want to look at the suite of business banking services offered and make sure that your banking partner will have everything you need to support your growth. 

2. Research Fees And Services

Be sure to read the fine print carefully so you know what fees you’ll be charged and which services are included in your account.

We find that most banking services are so similar they’re nearly a commodity. But, you will occasionally find an odd fee or a good deal, so this is a place you actually want to take the time to really understand the product you’re signing up for. 

3. Compare Rates

Compare interest rates and other features of different banks to make sure you’re getting the best deal for your money.

Remember you’ll want to look at rates on both sides of the equation, both deposits and borrowing. E.g, what rate am I getting for keeping my money with this bank and what rate will they give me to borrow money for products like personal loans and mortgages? 

We see a surprisingly wide range here across banks. Many banks offer next to nothing for basic savings and checking accounts. We don’t like to keep our money in these products if we can avoid it. But, you can occasionally find a bank that will offer savings or checking accounts with a rate close to what you can get in money market accounts. 

4. Check For Convenience

Many banks now offer mobile banking, online bill pay, and other features that make it easier to manage your finances. Look for a bank that offers the features you need to make managing your money simpler.

While we have moved completely online and don’t use in-person, physical branches at all anymore, some people still prefer that in-person touch and feel. If you want that, you’ll need a bank with branches near where you live.

If you’re online only like us, you’ll want to look at how extensive the bank’s ATM network is, since there are likely rare times when you’ll need cash. Many banks, but not all, are part of extensive, nationwide ATM networks, so look for this. 

Facts about Banks in Oregon 1

Best Oregon Banks

With our top tips in mind, here are the best options for reliable, trustworthy banks in Oregon!

1. Umpqua Bank: Best Overall

We were impressed by Umpqua Bank as a full-service community bank with around 350 branches throughout Oregon, as well as branches in Washington, Nevada, Arizona, Idaho, Colorado, Utah, and California.

They offer a robust suite of services including savings accounts and certificates of deposit, as well as checking accounts with no minimum balance requirement or monthly fees. Additionally, they provide access to loan and credit products, such as mortgages, personal loans, and credit cards.

They also offer small and medium-sized business services and wealth management services. We were impressed by the fact that it looked like it could handle the financial needs of an individual up to a regional-sized business.

Checking Accounts

Umpqua Bank offers three checking account options to customers: Embark Checking, Access Checking, and Attain Checking. Of these, Embark Checking can be used for free with no monthly maintenance fee, while the Access account and Attain accounts come with a monthly fee of $5 and $25 respectively- though fees can be waived as long as requirements are met.

All three account options will reimburse ATM fees each month, and there is just a $25 minimum deposit required to open an Embark or Access checking account. In addition, all accounts offer instant internal transfers, custom banking alerts, mobile deposits, and the option to forgo paper statements in favor of electronic options.

Savings Accounts

Umpqua Bank also offers a range of savings accounts, including Grow Savings, Thrive Money Market, and Prosper Money Market. As you would expect, the requirements increase for each level -as do the potential rewards.

Overall, this is a great selection for savers, and the option to waive your monthly fee in favor of maintaining a steady balance is a great incentive to keep your cash firmly in place!

Other Services

Umpqua Bank also offers substantial services beyond just your usual savings and checking accounts. Their credit cards have reasonably competitive rewards programs and there are a few different options to choose from, including a secured card if you need to build or re-build credit.

They also offer investment services, including wealth management and retirement planning, mobile banking solutions, and online banking facilities, allowing customers to access their accounts anywhere in the world with an Internet connection.

We like the extent of business products offered too. Everything from basic treasury services to SBA loans, specialty business lending, to foreign exchange demand accounts, and employee credit cards were offered. You could run a substantial enterprise just with the services offered by Umpqua.

All major banking functions can be carried out online, including transfers and bill payments.

Overall, what we like most about Umpqua was that it felt like a one-stop shop, with good (but not always the best) features and rates for most products.


  • A comprehensive range of banking services makes it a great option for both business and personal customers
  • Good rates on most products, ranging from savings accounts to credit cards to business loans
  • Extensive mobile and online banking, no need to visit a branch


  • Monthly fees for some basic services like checking accounts
  • Can find better rates on some of their products
  • Wealth management is just intermediaries
Facts about Banks in Oregon 2

2. Advantis Credit Union: Best For Financial Planning

Advantis Credit Union is a not-for-profit financial institution owned by its members and provides banking services to those who live or work in Oregon and Southwest Washington. As a member of the credit union, customers have access to competitive loan rates, higher savings rates than commercial banks, and no-fee checking accounts with online banking options.

Checking Accounts

Advantis offers two types of checking accounts: Basic Checking and Plus Checking. Both accounts come with no monthly fee, unlimited check writing, online banking, and mobile banking.

Plus Checking also includes additional features such as overdraft protection, higher earning interest rates, and identity theft protection services.

Savings Accounts

In addition, customers can also benefit from a range of savings accounts, including Regular Savings Accounts, Money Market Accounts, and Certificates of Deposit. All of these accounts come with competitive interest rates, and customers can take advantage of the bank’s online banking services to manage their money.

One thing to watch out for here is their new member savings account deal. While they offer a very high rate for a savings account for your first 12 months after joining, that rate drops to practically zero at your one-year anniversary. So watch out for that! ?

We also did NOT enjoy their description of their “high growth” CD products, which had a rate of a paltry 0.10%. ☠️

Other Services

This option also offers a range of investment services and financial planning tools to help members manage their money. Members can access the Investment Center, which provides comprehensive portfolio management, retirement planning advice, and more.

Advantis also offers a number of insurance products, from life insurance to pet insurance, as well as health savings accounts and college savings plans.


  • Competitive loan rates and higher savings rates than some other banks – for the first year
  • No-fee checking accounts with online and mobile banking options
  • Wide range of financial planning tools, including the Investment Center and insurance products


  • Some rates drop to nearly zero after a year
  • Some rates are described as “high,” when in reality they are not at all
  • Not available to all customers
  • Limited branch locations compared to other banks

3. CIT Bank – Best For People With Simple Needs

CIT Bank is an online bank offering high rates on savings accounts and certificates of deposit.

They offer a range of features, such as no minimum balance requirements, mobile banking, and customer service which has earned a great reputation.

They really specialize in just offering great rates and products for the most simple banking products. Unlike, other banks we’ve discussed, they won’t be a good option for people with more complicated needs looking to have everything in one place, like business owners or people who need wealth management solutions. 

Note that CIT is a division of First Citizens 

Checking Account

One of the most popular offerings is the eChecking account, which allows customers to take care of all financial transfers and requirements with no monthly fees or complex processes – instead, everything can be managed online for the ultimate convenience

Savings Accounts

The bank offers two types of savings accounts: the CIT Savings Builder account and the CIT Premier High Yield Savings account, also known as the Money Marler account. The Savings Builder account has a lower interest rate but does not have any monthly balance requirements, making it perfect for casual savings.

The Premier High Yield Savings account, on the other hand, offers a higher interest rate but requires a minimum balance of $25,000. Customers can also access their accounts via the bank’s mobile app or online banking services.

CIT Bank also offers certificates of deposit with competitive interest rates ranging from three months to five years in length. These CDs come with no additional fees and the ability to add additional funds during the term of the CD.


  • High-interest rates on some of their savings accounts and certificates of deposit
  • Option to get ATM fees reimbursed
  • No minimum balance requirements on a Savings Builder account


  • While their best products offer fantastic rates, some of their other products offer quite bad rates 
  • No physical branches
  • Limited range of products and services

We enjoyed making this list, we're thinking about signing up for Umpqua Bank after consideration

Banking in Oregon can be a great way to save money and keep track of your finances. With competitive rates, great customer service, and a range of products and services, the banks we have chosen will help you make the most of your money.

Whether you are looking for an online bank or a traditional brick-and-mortar one, there is sure to be an option that fits your needs. Before you choose a bank, make sure to do your research and read all the terms and conditions so that you can be sure you are making the best choice for your financial needs.


Editor's Note:

At Personal Finance Guru, we want to help you maximize your lifestyle through personal finance. You can trust the integrity of our independent financial advice. Our opinions are our own and have not been provided, reviewed, approved, or endorsed by any advertiser or financial product provider. To support and grow the site, however, we may receive compensation from the issuers of some products.

Meet the author:

Cathy Gresham

Cathy Gresham

Editor & Author

Cathy Gresham is a finance whiz. 

After earning her MBA from The Wharton School, she has worked in strategy at some of the world’s largest and most influential financial companies for 20+ years. Notably, she has worked for the biggest credit card issuers and networks and brings an insider’s perspective to how credit card products work behind the scenes.  

Cathy is passionate about personal finance and investing, and loves helping people learn about these complex topics. Her wit and humor make learning about money fun, and she’s always happy to share her knowledge with others.

Cathy enjoys spending time with her family and friends when she’s not crunching numbers or developing investment strategies. She’s also an avid runner, and can often be found pounding the pavement on her morning jog.