Our experts answer readers' banking questions and write unbiased product reviews (here's how we assess banking products). In some cases, we receive a commission from our partners; however, our opinions are our own. Terms apply to offers listed on this page.
FirstBank; Guadalupe Credit Union; Latino Community Credit Union; Lone Star National Bank; Popular Bank; Ponce Bank; Alyssa Powell/Insider
Hispanic American-owned institutions by state, plus Puerto Rico and the US Virgin Islands
Alabama
Alaska
Arizona
Arkansas
California
Colorado
Connecticut
Delaware
Florida
Georgia
Hawaii
Idaho
Illinois
Indiana
Iowa
Kansas
Kentucky
Louisiana
Maine
Maryland
Massachusetts
Michigan
Minnesota
Mississippi
Missouri
Montana
Nebraska
Nevada
New Hampshire
New Jersey
New Mexico
New York
North Carolina
North Dakota
Ohio
Oklahoma
Oregon
Pennsylvania
Rhode Island
South Carolina
South Dakota
Tennessee
Utah
Vermont
Virginia
Washington
Washington DC
West Virginia
Wisconsin
Wyoming
US Virgin Islands
Puerto Rico
History of Hispanic American-owned banks
The first Hispanic American-owned banks in the mainland US were established in the 1960s, one of the first being Centinel Bank of Taos.
Hispanic American financial institutions were created to provide services to low-income and minority communities, particularly Hispanic American communities. Historically, Hispanic Americans have been affected by discriminatory
Hispanic American banks were founded in areas where minority communities lived. These financial institutions were able to connect with their local communities and fill the banking gap by addressing areas like language and culture.
In the late 1960s and early 1970s, the government began to develop programs and policies that could aid minority-owned banks and allow these institutions to continue serving underrepresented communities.
For instance, through Executive Order 11625, the government sought to establish a program that would strengthen minority banks.
Legislation such as the Community Reinvestment Act also helped address the needs of underrepresented communities by requiring banks to meet their needs through services and products.
Hispanic American banks, much like other minority-owned banks, have gone through periods of growth and periods of decline.
Today, there are 54 Hispanic American banks and credit unions that are FDIC or NCUA insured around the US. These financial institutions continue to serve low-income and underrepresented communities.
Where to find Hispanic American-owned banks and credit unions in the US, including Puerto Rico and US Virgin Islands
Alabama
None
Alaska
None
Arizona
AEA Federal Credit Union Primary Share Savings
Branches: 3 (Yuma, Somerton, Parker)
ATMs: Free ATMs at AEA branches, Albertsons, plus over 30,000 surcharge-free ATMs through the Co-Op Shared Network
Services: savings accounts, checking accounts, money market accounts, share certificates, individual retirement accounts, auto loans, recreational vehicle loans, personal loans, credit cards, mortgage loans, online banking, mobile banking
Community outreach: AEA Federal Credit Union is part of the Employee Jeans Giver Program; employees get to wear jeans if they donate $5 or $10. The Federal credit union also partners with local organizations and helps host events for the community. Read more here.
Read Insider's full review of AEA Federal Credit Union here.
Arkansas
None
California
Camino Federal Credit Union Regular Share Savings
Branches: 1 (Montebello)
ATMs: Camino has more than 30,000 surcharge-free ATMs available through the Co-Op Shared Network
Services: savings accounts, checking accounts, money market accounts, share certificates, individual retirement accounts, credit cards, auto loans, personal loans, home equity loans, mortgage loans, online banking, mobile banking
Read Insider's full review of Camino Federal Credit Union here.
First Imperial Credit Union Regular Savings Account
Branches: 4 (El Centro, Brawley, Calexico, Imperial)
ATMs: over 30,000 surcharge-free ATMs through the Co-Op Shared Network
Services: savings accounts, checking accounts, share certificates, money market accounts, individual retirement accounts, auto loans, recreational vehicle loans, mortgage loans, home equity loans, unsecured loans, credit cards, online banking, digital wallet
Community outreach: First Imperial Credit Union has partnered with 18 local organizations. Read more here.
Read Insider's full review of First Imperial Credit Union here.
Sun Community Federal Credit Union Secure Savings Account
Branches: 8 (Brawley, Calexico, Calipatria, El Centro, Holtville, Imperial, Indio, Palm Springs)
ATMs: Sun Community Federal ATMs available, plus over 30,000 surcharge-free ATMs available through the Co-Op ATM Network
Services: savings accounts, checking accounts, money market accounts, share certificates, credit cards, personal loans, auto loans, recreational vehicle loans, lines of credit, share secured loans, home equity loans, home equity line of credit, mortgage loans, commercial loans, online banking, mobile banking
Community outreach: Sun Community Federal Credit Union partners with local high schools and organizations. In the last few years, the credit has donated over $400,000 to 50 organizations. Read more here.
Read Insider's full review of Sun Community Credit Union here.
UYFCU Regular Share Account
Branches: 1 (Orange County)
ATMs: Three UYFCU ATMs, plus 50,000 surcharge-free ATMs through the Co-Op Shared ATM network
Services: savings accounts, checking accounts, money market accounts, share certificates, individual retirement accounts, auto loans, recreational vehicle loans, secured CDs, credit cards, personal loans, mortgage loans, home equity lines of credit, safe deposit boxes
Read Insider's full review of Union Yes Federal Credit Union here.
Colorado
None
Connecticut
None
Delaware
None
Florida
BanesGrow Savings Account
Branches: 6 branches in Florida (Aventura, Coral Gables, Hialeah, West Palm Beach, and two in Miami) and 1 branch in Puerto Rico
ATMs: 55,000 ATMs worldwide and 43,000 ATMs in the US through the Allpoint ATM network
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, business banking, home equity loans, auto loans, boat loans, business loans, international banking, online banking, mobile banking
Community outreach: Banesco USA has worked with Junior Achievement to help promote financial literacy and education to K-12 students. It has also worked with Fundacion Comunitaria de Puerto Rico to help reconstruction efforts in Puerto Rico, as well as taken part in other local community efforts. Read more here.
Read Insider's full review of Banesco USA here.
Interamerican Bank Regular Savings Account
Branches: 5 (Miami, West Palm Beach)
ATMs: ATMs available in branches, plus Publix ATMs are free of charge
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, time deposit, individual retirement accounts, Visa credit card, Zelle, safe deposit boxes, business banking, mortgage loans, home equity lines of credit, construction loans, auto loans, unsecured lines of credit, commercial loans, telephone banking, online banking, mobile banking
Read Insider's full review of Interamerican Bank here.
International Finance Bank Personal Savings Account
Branches: 2 (Miami, New York)
ATMs: No ATM locations, 5 free out-of-network ATMs per month
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, individual retirement accounts, mortgage loans, business lines of credit, commercial loans, construction loans, CD secured loans, international banking, online banking, mobile banking
Read Insider's full review of International Finance Bank here.
Ocean Bank Plus Savings Account
Branches: 22 (Miami, Miami Beach, Aventura, Coral Gables, Doral, Hialeah, Pinecrest, Fort Lauderdale, Hollywood, Weston)
ATMs: Free ATMs at branches, plus Publix ATMs are free of charge
Services: savings account, checking accounts, certificates of deposit, money market accounts, individual retirement accounts, home equity line of credit, home mortgage loans, auto loans, boat loans, CD-secured loans, debit cards, business banking, commercial loans, commercial letters of credit, international banking, online banking, mobile banking, text banking, Zelle
Read Insider's full review of Ocean Bank here.
Plus International Bank Money Grows Savings Account
Branches: 1 (Miami)
ATMs: None
Services: savings accounts checking accounts, certificates of deposit, money market accounts, personal loans, business banking, commercial loans
Read Insider's full review of Plus International Bank here.
Popular Bank Savings Account
Branches: 39* (Florida, New Jersey, New York, see the full list here)
ATMs: 55,000 free ATMs through the Allpoint ATM network
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, individual retirement accounts, business banking, credit cards, personal loans, home equity line of credit, mortgage loans, investment planning services, annuities, insurance options, educational planning services
Community outreach: Popular Bank created the Popular Foundation, which has given over $2.5 million to local organizations focused on education, youth, health, elderly care, and community development. Read more here.
*Popular Bank has branches in Puerto Rico and the US Virgin Island, but these branches offer different products and services. Branches in Puerto Rico are listed as Banco Popular de Puerto Rico.
Read Insider's full review of Popular Bank here.
Sunstate Bank Regular Savings Account
Branches: 3 (Coral Gables, Miami, West Miami)
ATMs: Can use any Sunstate Bank ATMs, Publix ATMs, or NYCE ATMs free of charge
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, individual retirement accounts, debit cards, credit cards, Zelle, personal loans, mortgage loans, safe deposit boxes, business banking, business loans, international banking, online banking, mobile banking
Community outreach: Bank leadership and employees participate in their local communities focused on youth. Read more here.
Read Insider's full review of Sunstate Bank here.
US Century Bank Personal Savings Account
Branches: 10 (Miami, Miami Lakes, Hialeah, Aventura, Hollywood)
ATMs: Free ATMs in US Century Bank, CUHere, NYCE, SUM, Mastercard, and Pulse networks
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, individual retirement accounts, home mortgage loans, business banking, SBA loans, business lines of credit, CD secured loans, international banking, online banking, mobile banking, Zelle
Read Insider's full review of US Century Bank here.
Georgia
None
Hawaii
None
Idaho
None
Illinois
None
Indiana
None
Iowa
None
Kansas
None
Kentucky
None
Louisiana
None
Maine
None
Maryland
None
Massachusetts
None
Michigan
None
Minnesota
None
Mississippi
None
Missouri
None
Montana
None
Nebraska
None
Nevada
None
New Hampshire
None
New Jersey
Popular Bank Savings Account
Branches: 39 (Florida, New Jersey, New York, see the full list here)*
ATMs: 55,000 free ATMs through the Allpoint ATM network
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, individual retirement accounts, business banking, credit cards, personal loans, home equity line of credit, mortgage loans, investment planning services, annuities, insurance options, educational planning services
Community outreach: Popular Bank created the Popular Foundation, which has given over $2.5 million to local organizations focused on education, youth, health, elderly care, and community development. Read more here.
*Popular Bank has branches in Puerto Rico and the US Virgin Islands, but these branches offer different products and services. Branches in Puerto Rico are listed as Banco Popular de Puerto Rico.
Read Insider's full review of Popular Bank here.
Ponce Bank Savings Account
Branches: 13 in New York (Bronx, Brooklyn, Manhattan, Queens) and 1 in New Jersey (Union City)
ATMs: 13 (Plus any Citibank branch ATMs free of charge)
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, individual retirement accounts, business banking, business loans, commercial real estate loans, personal loans, residential mortgage loans, construction loans, mobile banking, online banking, telephone banking
Read Insider's full review of Ponce Bank here.
New Mexico
Community 1st Bank Las Vegas Savings Account
Branches: 4 (Las Vegas, Mora)
ATMs: 4 (Las Vegas, Mora)
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, safe deposit boxes, debit cards, auto loans, recreational vehicle loans, boat loans, motorcycle and ATV loans, farm equipment loans, home improvement loans, construction loans, home purchase loans, commercial loans, online banking, mobile banking, text banking
Read Insider's full review of Community 1st Bank Las Vegas here.
Centinel Bank of Taos Simple Savings Account
Branches: 1 (Taos)
ATMs: 2 (Taos)
Services: savings accounts, checking accounts, certificates of deposit, individual retirement accounts, debit cards, Centinel MasterCard, consumer loans, real estate loans, mortgage loans, land loans, home equity lines of credit, auto loans, personal lines of credit, business banking, business loans, safe deposit boxes, online banking, mobile banking
Community outreach: Centinel Bank volunteers and donates to local organizations focused on environmental action and youth.
Read Insider's full review of Centinel Bank of Taos here.
Guadalupe Credit Union Savings Account
Branches: 7 (Santa Fe, Espanola, Mora, Taos, El Prado)
ATMs: Free ATMs at branch locations and through the Co-Op Shared Network and CU Anytime ATM Network
Services: checking accounts, savings accounts, share certificates, money market accounts, debit cards, auto loans, motorcycle loans, recreational vehicle loans, boat loans, credit cards, personal loans, mortgage loans, online banking, mobile banking
Community outreach: Guadalupe Credit Union works with local organizations and is involved in programs and events like the BizKid$ program and Christmas families projects. Read more here.
Read Insider's full review of Guadalupe Credit Union here.
Zia Credit Union Share Savings Account
Branches: 3 (Los Alamos, Espanola, Santa Fe)
ATMs: Free ATMs from Co-Op Shared Network and CU Anytime
Services: savings accounts, checking accounts, share certificates, individual retirement accounts, Visa credit cards, home mortgage loans, auto loans, recreational vehicle loans, personal loans, personal lines of credit, online banking, mobile banking
Community outreach: Through the Zia Education Foundation, the bank offers college scholarships to graduating high school students. Since 1999, the bank has given over $375,000 in scholarships. Read more here.
Read Insider's full review of Zia Credit Union here.
New York
Ponce Bank Savings Account
Branches: 13 in New York (Bronx, Brooklyn, Manhattan, Queens) and 1 in New Jersey (Union City)
ATMs: 13 (Plus any Citibank branch ATMs free of charge)
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, individual retirement accounts, business banking, business loans, commercial real estate loans, personal loans, residential mortgage loans, construction loans, mobile banking, online banking, telephone banking
Read Insider's full review of Ponce Bank here.
Popular Bank Savings Account
Branches: 39 (Florida, New Jersey, New York, see the full list here)*
ATMs: 55,000 free ATMs through the Allpoint ATM Network
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, individual retirement accounts, business banking, credit cards, personal loans, home equity line of credit, mortgage loans, investment planning services, annuities, insurance options, educational planning services
Community outreach: Popular Bank created the Popular Foundation, which has given over $2.5 million to local organizations focused on education, youth, health, elderly care, and community development. Read more here.
*Popular Bank has branches in Puerto Rico and the US Virgin Islands, but these branches offer different products and services. Branches in Puerto Rico are listed as Banco Popular de Puerto Rico.
Read Insider's full review of Popular Bank here.
North Carolina
Latino Community Credit Union Savings Account
Branches: 16 ( Charlotte, Piedmont Triad, Triangle)
ATMs: Free access to over 1,300 Cashpoints ATMs
Services: savings accounts, checking accounts, share certificates, retirement accounts, credit cards, personal loans, secured loans auto loans, mortgage loans, immigration assistance loans, Dreamer loans, business banking, online banking, mobile banking
Community outreach: Latino Credit Union began the Latino Community Development Center to help Latino immigrants and low-income Latinos get a better understanding of financial literacy. Services are in English and Spanish and throughout all branches. There's also a scholarship fund that has provided over $350,000 in scholarships to members. Read more here.
Read Insider's full review of Latino Community Credit Union here.
North Dakota
None
Ohio
None
Oklahoma
Bank of Grand Lake Regular Savings Account
Branches: 2 (Grove, Langley)
ATMs: 3, plus any ATMs through the TransFund ATM network are surcharge-free
Services: savings accounts, checking accounts, money market accounts, certificates of deposit, individual retirement accounts, construction loans, home equity loans, home improvement loans, personal lines of credit, real estate loans, boat loans, recreational vehicle loans, auto loans, commercial loans, business banking, online banking, mobile banking
Read Insider's full review of Bank of Grand Lake here.
Oregon
None
Pennsylvania
None
Puerto Rico
Banco Popular de Puerto Rico U Save Account
Branches: 160 throughout Puerto Rico, see the full list here
ATMs: more than 600 free ATMs through Banco Popular de Puerto Rico
Services: savings accounts, checking accounts, money market accounts, certificates of deposit, individual retirement accounts, credit cards, online banking, mobile banking, personal loans, home equity line of credit, mortgage loans, investment planning services, annuities, insurance options, educational planning services
Community outreach: Banco Popular de Puerto Rico created the Popular Foundation, which has given over $2.5 million to local organizations focused on education, youth, health, elderly care, and community development. It also contributed $1 million to help communities that were affected after Hurricane Maria. Read more here.
*Banco Popular de Puerto Rico has branches in the mainland US and the US Virgin Islands, but these branches offer different products and services. These branches are listed as Popular Bank.
Read Insider's full review of Banco Popular de Puerto Rico here.
BanesGrow Savings Account
Branches: 6 branches in Florida (Aventura, Coral Gables, Hialeah, West Palm Beach, and two in Miami) and 1 branch in Puerto Rico
ATMs: 55,000 ATMs worldwide and 43,000 ATMs in the US through the Allpoint ATM network
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, home equity loans, auto loans, boat loans, business loans, international banking, online banking, mobile banking
Community outreach: Banesco USA has worked with Junior Achievement to help promote financial literacy and education to K-12 students. They've also worked with Fundacion Comunitaria de Puerto Rico to help reconstruction efforts in Puerto Rico, as well as taken part in other local community efforts. Read more here.
Read Insider's full review of Banesco USA here.
Caribe Credit Union Regular Share Account
Branches: 3 in Puerto Rico (San Juan, Guaynabo, Ponce)
ATMs: over 200 ATMs from the COOP24 Network, and over 80 ATMs through the ShareNet Network*
Services: savings accounts, checking accounts, share certificates, auto loans, personal loans, mortgage loans, boat loans, motorcycle loans, green loans, credit cards, business banking, business loans
*Up to 10 free ATM withdrawals, $1.00 charge once you exceed the free transaction limit
Read Insider's full review of Caribe Credit Union here.
FirstBank Puerto Rico Easy Savings Account
Branches: 78 throughout Puerto Rico,
ATMs: 445
Services: savings accounts, checking account, certificates of deposit, money market account, business banking, individual retirement accounts, debit cards, lines of credit, insurance offerings, personal loans, mortgage loans, auto loans, boat loans, fixed-term business loans, letters of credit, online banking, mobile banking
Community outreach: FirstBank Puerto Rico began the Think First, Think Green program, which focuses on environmental awareness. The program is in partnership with The Conservation Trust of Puerto Rico and Fundación Amigos de El Yunque. Read more here.
Read Insider's full review of FirstBank Puerto Rico here.
Oriental Bank ¡Ahorra! Account
Branches: 46 throughout Puerto Rico, see the full list here
ATMs: more than 55,000 ATMs in the US, free ATMs in Puerto Rico available here.
Services: savings accounts, checking accounts, certificates of deposit, business banking, mortgage loans, auto loans, personal loans, credit cards, lines of credit, commercial loans, individual retirement accounts, insurance offerings, corporate retirement plans, online banking, mobile banking
Community outreach: Through Manos Oriental, bank employees volunteer in local communities and participate in organizations like Canastas de Bendicion and Enactus Puerto Rico. Read more here.
Read Insider's full review of Oriental Bank here.
Puerto Rico Federal Credit Union
Branches: 4 in Puerto Rico (Caparra, Quebradillas, Manatee, Aguadilla)
ATMs: Free ATMS through ATH, NYCE, and CIRRUS networks
Services: savings account, checking accounts, share certificates, personal loans, credit cards, mortgage loans, auto loans, online banking
Read Insider's full review of Puerto Rico Federal Credit Union here.
VAPR Federal Credit Union Share Account
Branches: 4 in Puerto Rico (San Juan, Rio Piedras, Hato Rey, Guayama)
ATMs: VAPR Federal Credit Union ATMs are free, if you use other bank ATMs an additional charge will occur after the eleventh transaction
Services: savings accounts, checking accounts, share certificates, individual retirement accounts, credit cards, personal loans, auto loans, mortgage loans, construction loans, online banking, mobile banking
Read Insider's full review of VAPR Federal Credit Union here.
Rhode Island
None
South Carolina
None
South Dakota
None
Tennessee
None
Texas
Bank of South Texas Savings Account
Branches: 6 (Pharr, McAllen, Kingsville, Hebbronville, Mission)
ATMs: 55,000 through the Allpoint ATM network
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, individual retirement accounts, business banking, debit card, real estate loans, business loans, construction loans, online banking, mobile banking
Community Outreach: Board members and employees participate in local charity runs. Read more here.
Read Insider's full review of Bank of South Texas here.
Border Federal Credit Union Regular Savings Account
Branches: 5 (Del Rio, Eagle Pass, Crystal City)
ATMs: 11 Free ATMs, plus access through Stripes Stores
Services: savings accounts, checking accounts, share certificates, money market accounts, individual retirement accounts, gift cards, debit cards, insurance options, volunteer income tax program, personal loans, business loans, home equity loans, unimproved land loans, COVID-19 relief loans
Community outreach: Border Federal Credit Union began a golf tournament, which has raised over $120,000 for college scholarships. It also has youth programs geared toward financial literacy and education.
Read Insider's full review of Border Federal Credit Union here.
Citizens State Bank Personal Savings Account
Branches: 2 (Roma, Rio Grande City)
ATMs: 2
Services: savings accounts, checking accounts, money market accounts, certificates of deposit, individual retirement accounts, personal loans, auto loans, home improvement loans, real estate loans, farm loans, business banking
Read Insider's full review of Citizens State Bank here.
CoastLife Community Credit Union Savings Account
Branches: 7 (Corpus Christi, Portland)
ATMs: Free ATMs are available at branch locations and at 7-Eleven locations, see the full list here.
Services: savings accounts, checking accounts, share certificates, individual retirement accounts, gift cards, credit cards, debit cards, safe deposit boxes, mortgage loans, home equity loans, personal loans, auto loans, recreational vehicle loans, motorcycle loans, unsecured loans, student loans, insurance options, online banking, mobile banking
Read Insider's full review of CoastLife Community Credit Union here.
International Bank of Commerce Personal Savings Account
Branches: 167 throughout the state of Texas, see full list here*
ATMs: 282
Services: savings accounts, checking accounts, IBC cards, mortgage loans, loan options, insurance options, investment planning services, safe deposit boxes, night deposits
*Commerce Bank has branches outside of Laredo, but these branches offer different products and services. They also have different routing numbers and wiring numbers. These banks will be listed as International Bank of Commerce, Laredo; International Bank of Commerce, Brownsville; and International Bank of Commerce, Laredo.
Read Insider's full review of Commerce Bank here.
Edinburg Teachers Credit Union Savings Account
Branches: 1 (Edinburg)
ATMs: 3
Services: savings accounts, checking accounts, share certificates, individual retirement accounts, credit cards, auto loans, home loans, revolving line of credit, boat loans, recreational vehicle loans, personal loans, online banking
Read Insider's full review of Edinburg Teachers Credit Union here.
evolve Federal Credit Union Savings Account
Branches: 4 (El Paso)
ATMs: Access to 215 free ATMs located throughout El Paso and Las Cruces, plus 85,000 surcharge-free ATMs through Allpoint, Co-Op, and CU Anytime Shared Networks
Services: savings account, checking accounts, share certificates, money market accounts, individual retirement accounts, credit cards, personal loans, auto loans, mortgage loans, medical professional mortgage loans, insurance options, online banking, mobile banking
Community outreach: evolve Federal Credit Union created "evolving Kids of El Paso," where the bank partners with local children's organizations and hosts events. Read more here.
Read Insider's full review of evolve Federal Credit Union here.
Falcon International Bank Statement Savings Account
Branches: 18 (Laredo, Del Rio, Eagle Pass, San Antonio, Brownsville, Buda, McAllen, Zapata)
ATMs: 22
Services: savings account, checking accounts, certificates of deposit, money market accounts, business banking, online banking, mobile banking, mortgage loans, letters of credit, insurance offerings, individual retirement accounts, corporate retirement accounts, investment planning services, education planning services, estate planning services
Community outreach: Falcon International Bank's board members and employees volunteer in Leadership Laredo, South Texas Bank, Laredo WBCA, and more local organizations. Read more here.
Read Insider's full review of Falcon International Bank here.
Freedom Bank Savings Account - Product Name Only
Branches: 3 (Freer, McAllen, Alamo), plus 2 openings in San Diego, Texas, and Edinburg, Texas in a date that's yet to be announced
ATMs: 55,000 ATMs through Allpoint network
Services: savings accounts, checking accounts, money market accounts, certificates of deposit, credit cards, home loans, auto loans, personal loans, unsecured loans, safe deposit boxes, business banking, mobile banking, online banking, telephone banking
Read Insider's full review of Freedom Bank here.
GECU Savings Account
Branches: 21 (El Paso)
ATMs: Access to over 32,000 surcharge-free ATMs through GECU or Co-Op Shared Network
Services: saving accounts, checking accounts, share certificates, money market accounts, individual retirement accounts, personal loans, car loans, mortgage loans, home improvement loans, commercial loans, credit cards, debit cards, insurance options, business banking, business loans, Zelle, online banking, mobile banking
Community outreach: GECU Credit Union began the GECU Foundation, which provides scholarships and participates in local community events. The credit union also started a free financial literacy program. Read more here.
Read Insider's full review of GECU Credit Union here.
Gulf Coast Federal Credit Union Savings Account
Branches: 4 (Corpus Christi, Alice, Portland)
ATMs: Free ATMs at branch locations, surcharge-free ATMs with Members First Credit Union, CC City Employees Credit Union, Star Credit Union, Rally Credit Union, and Stripes Stores
Services: checking accounts, savings accounts, share certificates, money market accounts, individual retirement accounts, credit cards, auto loans, boat loans, recreational vehicle loans, mortgage loans, home equity loans, land loans, shared secured loans, motorcycle loans, lines of credit, CD secured loans, insurance options, online banking, mobile banking
Read Insider's full review of Gulf Coast Federal Credit Union here.
International Bank of Commerce Personal Savings Account
Branches: 167 throughout the state of Texas, see the full list here*
ATMs: 282
Services: savings accounts, checking accounts, certificates of deposit, individual retirement accounts, debit cards, gift cards, credit cards, mortgage loans, home equity lines of credit, home equity loans, auto loans, boat loans, recreational vehicle loans, insurance options, investment planning services, online banking, mobile banking
*International Bank of Commerce has branches outside of Brownsville, but these branches offer different products and services. They also have different routing numbers and wiring numbers. These banks will be listed as Commerce Bank; International Bank of Commerce, Laredo; and International Bank of Commerce, Zapata.
Read Insider's full review of International Bank of Commerce here.
International Bank of Commerce Personal Savings Account
Branches: 167 throughout the state of Texas, see the full list here*
ATMs: 282
Services: savings accounts, checking accounts, certificates of deposit, individual retirements accounts, debit cards, gift cards, credit cards, mortgage loans, home improvement loans, home equity lines of credit, home equity loans, auto loans, boat loans, recreational vehicle loans, insurance options, investment planning services, mobile banking, online banking
*International Bank of Commerce has branches outside of Laredo, but these branches offer different products and services. They also have different routing numbers and wiring numbers. These banks will be listed as Commerce Bank; International Bank of Commerce, Brownsville; and International Bank of Commerce, Zapata.
Read Insider's full review of International Bank of Commerce here.
International Bank of Commerce Personal Savings Account
Branches: 167 throughout the state of Texas, see the full list here*
ATMs: 282
Services: savings accounts, checking accounts, certificates of deposit, individual retirement accounts, debit cards, gift cards, credit cards, mortgage loans, home equity lines of credit, home equity loans, auto loans, boat loans, recreational vehicle loans, insurance options, investment planning services, online banking, mobile banking
*International Bank of Commerce has branches outside of Zapata, but these branches offer different products and services. They also have different routing numbers and wiring numbers. These banks will be listed as Commerce Bank; International Bank of Commerce, Brownsville; and International Bank of Commerce, Laredo.
Read Insider's full review of International Bank of Commerce here.
Laredo Federal Credit Union Savings Account - Product Name Only
Branches: 3 (Laredo)
ATMs: 6
Services: savings accounts, checking accounts, share certificates, money market accounts, individual retirement accounts, debit cards, safe deposit boxes, discount tickets, mortgage loans, home equity loans, home improvement loans, auto loans, lot loans, consumer loans, shared secured loans, personal loans, online banking, mobile banking
Read Insider's full review of Laredo Federal Credit Union here.
La Joya Area Federal Credit Union
Branches: 2 (La Joya)
ATMs: Free ATMs at credit union locations and 500 surcharge-free ATMs at Stripes Stores
Services: savings accounts, checking accounts, share certificates, money market account, individual retirement accounts, personal loans, car loans, boat loans, motorcycle loans, share secured loans, certificate secured loans, home equity loans, home mortgage loans, land loans
Read Insider's full review of La Joya Area Federal Credit Union here.
Lone Star National Bank Personal Savings Account
Branches: 38 (Alton, Brownsville, Edinburg, Harlingen, Hidalgo, McAllen, Mission, Pharr, Rio Grande City, Roma, San Antonio, South Padre Island, Weslaco)
ATMs: 56 offsite ATMs, plus all Allpoints ATMs are free of charge
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, gift cards, credit cards, personal loans, mortgage loans, auto loans, construction loans, lot loans, business banking, investment planning services, insurance options, online banking, mobile banking
Read Insider's full review of Lone Star National Bank here.
Members First Credit Union Regular Share Savings Account
Branches: 4 (Corpus Christi, Harlingen)
ATMs: over 55,000 free ATMs through the Allpoint ATM network
Services: savings accounts, checking accounts, money market accounts, business banking, certificates of deposit, individual retirement accounts, vehicle loans, Visa credit cards, home mortgage loans, home equity loans, personal loans, secured loans, online banking, mobile banking
Read Insider's full review of Members First Credit Union here.
Naft Federal Credit Union Savings Account
Branches: 3 (Pharr, Harlingen)
ATMs: 13, plus members can use Co-op ATMs free of charge
Services: savings accounts, checking accounts, share certificates, money market accounts, individual retirement accounts, auto loans, personal loans, recreational vehicle loans, home equity loans, credit cards, online banking, mobile banking, Popmoney
Read Insider's full review of Naft Federal Credit Union here.
Rally Credit Union Basic Savings Account - Product Name Only
Branches: 19 in Texas (Corpus Christi, Aransas Pass, Beeville, Calallen, Kingsville, Portland, Rockport, Brownsville, Edinburg, McAllen, Mission, Weslaco)
ATMs: Rally Credit Union is part of the Co-Op Shared Network with over 30,000 ATM locations.
Services: savings accounts, checking accounts, share certificates, money market accounts, individual retirement accounts, personal loans, home equity loans, mortgage loans, land loans, construction loans, land loans, auto loans, business banking, mobile banking, online banking
Read Insider's full review of Rally Credit Union here.
Rio Bank Prestige Savings Account
Branches: 15 (Brownsville, Edcouch, Edinburg, Elsa, Harlingen, Palmview, Rio Grande City, Roma, San Juan, McAllen, Weslaco)
ATMs: ATMs throughout Rio Grande Valley, plus 55,000 ATMs through the Allpoint network free of charge
Services: savings accounts, checking accounts, certificates of deposit, money market accounts, individual retirement accounts, debit cards, credit cards, business banking, personal loans, mortgage investment services, business plans, investment planning services, online banking, mobile banking
Read Insider's full review of Rio Bank here.
River City Federal Credit Union Savings Account
Branches: 5 in San Antonio, Texas plus part of CO-Op Shared branches
ATMs: ATMs available near branch locations, plus any of 30,000 ATMs through the Co-Op Shared Network are free of charge
Services: savings accounts, checking accounts, money market accounts, share certificates, individual retirement accounts, credit cards, personal loans, auto loans, recreational vehicle loans, boat loans, home mortgage loans, home equity loans, student loans, business banking, business loans, online banking, mobile banking
Community outreach: The bank has partnered with Juntos Avanzamos, an organization that highlights credit unions that focus on serving Hispanic communities. River City Federal Credit Union makes a point to help people regardless of their citizenship status. Since 2018, the bank also began offering two annual college scholarships. Read more here.
Read Insider's full review of River City Federal Credit Union here.
Security First Credit Union Regular Share Account
Branches: 9 (Brownsville, Edinburg, Harlingen, McAllen, Mission, San Benito, Weslaco)
ATMs: Members can use Rio Grande Valley Credit Union or NAFT Federal Credit Union ATMs for free. Stripes Stores ATMs can also be used.
Services: savings accounts, money management accounts, share certificates, individual retirement accounts, auto loans, mortgage loans, personal loans, credit cards, debit cards, business banking, insurance options, online banking, mobile banking
Community outreach: SecurityFirst Credit Union has an annual college scholarship program, which awards 5 high school students $1,000. Read more here.
Read Insider's full review of Security First Credit Union here.
SouthWest Heritage Credit Union Share Account
Branches: 5 (Odessa, Wink)
ATMs: 43
Services: savings accounts, checking accounts, money market accounts, certificates of deposit, individual retirement accounts, credit cards, home mortgage loans, auto loans, recreational vehicle loans, other consumer loans, business loans, real estate loans, mobile banking, online banking
Read Insider's full review of Southwest Heritage Credit Union here.
Texas National Bank Personal Savings Account
Branches: 8 (Brownsville, Edinburg, Elsa, McAllen, Mercedes, Mission, San Juan, Weslaco)
ATMs: 8, plus over 55,000 Allpoint ATMs free of charge
Services: savings accounts, checking accounts, money market accounts, certificates of deposit, individual retirement accounts, safe deposit boxes, personal loans, credit cards, mortgage loans, business banking, commercial loans
Community outreach: Board members and staff participate in local events including charity runs, local organization events, and youth events. Read more here.
Read Insider's full review of Texas National Bank here.
Zapata National Bank Savings Personal Account
Branches: 1 (Zapata)
ATMs: 2 (One at Zapata Branch, the other near Highway 83)
Services: savings accounts, checking accounts, money market accounts, business banking, personal loans, auto loans, farm loans, equipment loans, real estate loans, home equity loans, small business loans, SBA loans, letters of credit, lines of credit, online banking, mobile banking
Read Insider's full review of Zapata National Bank here.
Utah
None
US Virgin Islands
Popular Bank Savings Account
Branches: 10 in the US Virgin Islands (St. Croix, St. Thomas, Tortola, Virgin Gorda)*
ATMs: more than 20 free ATMs available in the Virgin Islands through Popular Bank
Services: savings accounts, checking accounts, money market accounts, certificates of deposit, individual retirement accounts, credit cards, online banking, mobile banking, personal loans, home equity line of credit, mortgage loans, investment planning services, annuities, insurance options, educational planning services
Community outreach: Popular Bank created the Popular Foundation, which has given over $2.5 million to local organizations focused on education, youth, health, elderly care, and community development. It also contributed $1 million to help communities that were affected after Hurricane Maria. Read more here.
*Popular Bank has branches in the mainland US and Puerto Rico, but these branches offer different products and services. Branches in Puerto Rico are also listed as Banco Popular de Puerto Rico.
Read Insider's full review of Popular Bank here.
Vermont
None
Virginia
None
Washington
None
Washington DC
IDB Global Federal Credit Union
Branches: 1 (Washington, DC)
ATMs: 28,000 free ATMS through Co-Op and Alliance One ATM Network
Services: savings accounts, checking accounts, share certificates, debit cards, mortgage loans, auto loans, recreational vehicle loans, home equity loans, supplemental housing loans, share secured loans, consumer loans, education loans, Zelle, online banking, mobile banking, Apple pay
Read Insider's full review of IDB Global Credit Union here.
West Virginia
None
Wisconsin
None
Wyoming
None
Methodology: How did Personal Finance Insider choose the banks and credit unions on this list?
Personal Finance Insider chose Hispanic American banks from the FDIC's second quarter 2022 list.
These banks are designated as "minority depository institutions" (MDIs) and FDIC insured. FDIC-insured banks protect your money and make sure that up to $250,000 is backed up in an individual bank account.
According to the FDIC, an MDI is defined as "a federal insured depository institution for which (1) 51 percent or more of the voting stock is owned by minority individuals; or (2) a majority of the board of directors is minority and the community that the institution serves is predominantly minority."
We selected Hispanic American-owned credit unions from the National Credit Union Administration's list of minority depository institutions which was also updated in September 2022. The NCUA has a slightly different definition for MDIs.
For a credit union to be an MDI it must be federally insured and "a majority of its current members, its board of directors, and the community it services, as designated in its charter, fall within any of the eligible minority groups." Minority groups considered are Black Americans, Native Americans, Hispanic Americans, or Asian Americans.
From the NCUA's Minority Depository Institutions List, we selected Hispanic American-owned credit unions that had at least 10,000 members. If our list doesn't include a banking institution that's near you, you may be able to find a smaller credit union on this list.
Frequently asked questions
What is the largest Hispanic American-owned bank?
Banco Popular de Puerto Rico and International Bank of Commerce are two of the largest Hispanic American banks in the continental US and Puerto Rico.
Banco Popular de Puerto Rico has over 160 branches and more than 600 free ATMs. Banco Popular de Puerto Rico is located throughout Puerto Rico. There is also a Popular Bank in the US Virgin Islands and several states in the mainland US — primarily in Florida, New Jersey, and New York. However, these branches deviate a bit from the product and services offered in Puerto Rico.
International Bank of Commerce has over 187 branches and more than 280 ATMs. The main bank is located in Laredo, Texas. However, there are also branches in other cities throughout Texas, which may offer different services, routing numbers, and wire numbers.
How do Hispanic American-owned financial institutions impact underrepresented communities?
Hispanic American financial institutions are impactful to Hispanic American communities because many of these institutions embrace more than one language and culture.
Russell D. Kashian, an economics professor at the University of Wisconsin-Whitewater and director of the Fiscal Economic Research Center, has studied the role of heritage among Hispanic American-owned banks.
Some of Kashian's research has found that Hispanic American-owned banks are culturally diverse. Depending on their Hispanic heritage and what their communities' specific needs are, these businesses can relate to the culture and support their needs economically.
In our list of Hispanic American-owned banks and credit unions, many of the institutions listed offer customer support in Spanish and English. You'll also see that they have international banking or transfer services, which can be ideal for people who need to send money to their families if they live in another country, says Kashian.
A few of the Hispanic American financial institutions on our list, like River City Credit Union and Guadalupe Credit Union, tackle issues of citizenship status by working with the national program Juntos Avanzamos.
Juntos Avanzamos allows bank members to use foreign identification if they aren't US citizens. It also offers products that allow individuals to build credit.
Kashian says that minority-owned businesses also have a purpose beyond their services and products.
"It is providing a vision for young people on what they can do with their lives," said Kashian. "The other important thing is that it provides job opportunities within a community and entry-level jobs."
When it comes to minority depository institutions, Kashian says that several train and promote within, creating a funnel toward leadership positions and banking that reflects its community.
Are Hispanic American financial institutions still important service providers?
Yes. Racial discrimination and unfair lending practices in banking still persist.
According to a 2017 Pew Research study, Hispanic Americans were also less likely to be approved for mortgages compared to white and Asian applicants. Furthermore, when they are approved, they were more likely to pay a higher mortgage rate.
There also continues to be a racial wealth gap where Hispanic families are significantly less wealthy than white families.
Hispanic American-owned banks and credit unions are vital for minority communities. As minority depository institutions, Hispanic American-owned banks serve an integral role for minority communities and help underrepresented individuals fulfill their economic needs.
In 2019, the FDIC released a study that analyzed how MDIs serve minority, low- and moderate-income communities. Results from the study found that Hispanic Americans made up a greater percentage of those who took out home loans or small business loans at Hispanic American banks in comparison to non-minority banks.
Has the number of Hispanic American banks grown or shrunk over the years? Why?
Throughout history, Hispanic American banks have gone through times of growth and times of decline.
Hispanic American banks, similar to other MDIs, have been impacted during periods when the economy is hit hardest. For instance, during the 2008 recession, Hispanic American banks had more closures than openings.
In 2001, the FDIC had 32 Hispanic American banks on its MDI list. In 2011, the number of Hispanic American banks increased to 38, and now in 2021, it's gone down to 30.
What kinds of services do Hispanic American-owned institutions offer?
As you'll find while scrolling through this list, MDI institutions offer many of the same accounts and services that larger banking institutions offer.
You can open up savings accounts, checking accounts, CDs, and money market accounts in most of the institutions listed. You can also get a loan or an individual retirement account. Some even offer business banking or international banking services.
Many Hispanic American-owned banks on our list are located primarily in one state. As a result, several are committed to their local communities.
A couple of financial institutions listed have created college scholarship programs or financial literacy programs to help fill community needs. Others have employees and leaders who volunteer or donate at local events. You'll also find that many offer customer service support or online features in both Spanish and English.
Who can bank at a Hispanic American bank?
Anyone can bank at a Hispanic American-owned bank. However, something you'll need to factor in is where you live. Most Hispanic American-owned banks on our list are located in select states. There aren't any Hispanic American-owned banks with a national presence.
Where can I learn more about Hispanic American banks?
If you want to learn more about how Hispanic American banks have dealt with economic shifts, you may want to read this study by the Federal Reserve Bank of Dallas.
If you're curious about more historical information about Hispanic American-owned banks and other MDIs, you can also visit the FDIC webpage or read some of the research listed on the Partnership of Progress website.
To help you learn more about a specific Hispanic American-owned bank or credit union, we've included links to reviews of individual institutions.