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GN Bank: Overall Bank Rating
| Feature | Insider rating (out of 5) |
| Savings | 3.5 |
| Checking | 3.75 |
| CD | 3.75 |
| Money market account | 2.5 |
| Trustworthiness | 5 |
| Total | 3.75 |
GN Bank: Pros and Cons
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How GN Bank Works
GN Bank is a Black-owned bank with two branches in Chicago. It has 25,000 free ATMs around the US.
Contact customer support Monday through Friday, 8:30 a.m. to 4:30 p.m. CT.
The GN Bank mobile app doesn't have many online reviews yet. So far, it has 4.7 out of 5 stars in the Apple store, but it doesn't have a rating on the Google Play store yet.
Your deposits are FDIC insured for up to $250,000, or up to $500,000 for joint accounts.
The Role of Black-led Financial Institutions
There is a history of racial prejudice in banking and lending that has significantly impacted Black Americans and contributed to a racial wealth gap in the US. Black-led financial institutions serve an integral role in providing services and products to Black communities.
GN Bank has branches in South Chicago. According to the Chicago Metropolitan Agency for Planning, over 75.3% of the South Chicago population is Black.
GN Bank is also certified as a community development financial institution (CDFI). Banks have to undergo certification by the US Department of Treasury's Community Development Financial Institutions Fund and meet specific requirements to address banking barriers to receive CDFI designation.
Is GN Bank Trustworthy?
GN Bank doesn't have any recent public controversies.
In our GN Bank review, we also include ratings from the Better Business Bureau. A good BBB score indicates a company responds effectively to customer complaints, advertises honestly, and is transparent about business practices.
The BBB gives GN Bank a D- rating since it hasn't responded to two customer complaints.
A BBB score doesn't guarantee you'll have a good or bad relationship with GN Bank, though. You still may want to read online customer reviews or ask family and friends about their experiences with the bank.
GN Bank Review vs. Liberty Bank and Trust Review
Although Liberty Bank and Trust savings rates vary depending on where you live, its rates are generally much higher than what you'd earn with GN Bank. Liberty also pays high rates on CDs.
But Liberty requires a minimum $500 balance to waive the monthly service fee on your checking account, while GN Bank only requires $100. If you don't expect to keep a $500 balance in checking, you may prefer GN Bank.
GN Bank Review vs. OneUnited Bank Review
OneUnited Bank doesn't have any branches in Chicago, but you can bank online from around the US. You may like OneUnited if you're comfortable banking digitally, but if not, GN Bank is the clear choice between the two.
OneUnited has early direct deposit features, so it could process your paychecks up to two days early. This is especially convenient if you live paycheck to paycheck and need money fast.
GN Bank: Frequently Asked Questions
How many branches does GN Bank have?
GN Bank currently has two branches in Chicago.
Is GN Bank FDIC-insured?
Yes, GN Bank is FDIC-insured. Up to $250,000 per depositor is secure in a bank account.