MONEY magazine released its Best Banks analysis in its November 2017 issue, naming the best financial institutions in every state. Alabama and Florida came out on top with credit unions staking claim on the top spots. In Alabama Redstone Federal Credit Union won, while in Florida, Suncoast Credit Union was the victor.
Using data from Bankrate.com, MONEY reinvented its analysis with new criteria this year, saying “We identified the best online bank and best stand-alone CD, but we also chose a local winner in every state. To pick the champions here, we required minimum balances that were $1,500 or less, and we assumed that you could put up with online statements to avoid fees. Why bother switching banks? After all, unwinding direct deposits and online bill payments can be a real hassle. But the payoff is real.”
The biggest perk is the article is likely to draw greater interest in all credit unions for both states, as well as nationwide