These Are the Best Banks in Michigan
Finding a good bank that you trust is a big deal. After all, if you have a lot of savings or want to invest through your bank, you’re going to want to find a bank that delivers great customer service and won’t fail. It’s also important to find a good bank if you plan to borrow money for an automobile loan, house, boat or anything else. Forbes has ranked the best banks in America, and they have two local banks ranked as the best banks in Michigan.
Forbes has put together this tally of the best banks in America. To do the research, Forbes joined forces with market research firm Statista and surveyed about 31,000 U.S. residents. “Participants were asked to name all the banks and credit unions where they have a checking or savings account and evaluate these institutions based on criteria such as customer service, the quality of the financial advice representatives offer, whether fees are transparent and reasonable, ease of navigating the company website, on-location branch services and the overall level of trust the companies inspired,” they explain in the study.
Also, note that large, nationwide banks and credit unions with branches in 15 or more U.S. states were excluded. Hence, the winner are the best of the smaller, regional institutions. Some of the excluded banks include Bank of America, JPMorgan Chase, Wells Fargo and Navy Federal Credit Union. At the end of their research, Forbes gave 164 awards to 137 unique banks across all U.S. states.
So, what are the best banks in Michigan? No. 1 is Flagstar Bank in Troy. No. 2 is Independent Bank (MI) in Grand Rapids. They also have Huntington Bank in Columbus, Ohio, listed under the “best Michigan banks” ranking. Even though that bank is based in Ohio, it’s considered a good one for Michigan. Find the full list of the best banks in America via Forbes here.