Banks in California

Banks in California: Top 10 Trustworthy Entities!

There are many banks in California, but only a few are considered the most trustworthy. With the recent financial crisis, many people wonder which banks can be trusted.

There is no perfect answer for this question, but some institutions deserve recognition for their service to customers and stability during tough times. In California, the top 10 most trustworthy banks are:

1. Union Bank

counting money in union bank

  Union Bank is a community bank. Because of the size, they can offer their customers personalized attention. In addition, the Federal Deposit Insurance Corporation (FDIC) has insured Union Bank since 1934, so depositors’ money is safe.

Union Bank offers a broad range of banking and investing products and services. Union Bank is known as the bank that cares, as it has been serving the needs of those in underserved communities throughout California, Nevada, and New York City for over 150 years. As a community bank, Union Bank puts its customers first by providing personalized assistance to help meet their financial needs. The bank has 548 offices in California, Nevada, and New York.

2. Wells Fargo

100$ note from wells fargo

 Wells Fargo is a nationwide financial services company with $1 trillion in assets. It was founded in 1852 during the Gold Rush by Henry Wells and William G. Fargo, who teamed up with others to provide banking and express mail services to early settlers of San Francisco.

As one of the nation’s largest banks, it offers more than 50,000 fee-free ATMs and approximately 16,000 shared branching locations (check cashing and other surcharge-free services), making it easy for customers to access their accounts no matter where they are located in the United States or abroad; this extensive network provides more convenience for customers without the fees.

 Wells Fargo has $1 trillion in assets, and it is considered one of the most trustworthy banks in California.

3. Bank of America  

According to Investopedia, the Bank of America is a financial institution with $2.2 trillion in assets at last count, making it the second-largest bank holding company in the United States. It was founded in 1904 by Amadeo Giannini through a merger between two San Francisco banks he had established. Unfortunately, both banks failed during the 1906 San Francisco earthquake. Still, a newly merged entity thrived afterward and expanded beyond its West Coast base into Arizona, Texas, and Florida before establishing operations on Main Street throughout the country.

In 1998, Bank of America became the largest holding company in assets, followed by JP Morgan Chase & Co.

It is considered to be one of the most trustworthy banks in California.

4. JPMorgan Chase

According to Investopedia, JPMorgan Chase is an American multinational banking and financial services holding company with assets estimated to be around $2.5 trillion as of March 2021.

It is one of the top 10 largest financial institutions in the United States and among the world’s most enormous at sixth overall behind Deutsche Bank, HSBC, BNP Paribas, Credit Suisse Group, and UBS AG. The bank has 248,000 employees, including more than 248,000 globally and 20,000 at its consumer banking subsidiary, Chase Bank.

JPMorgan Chase is considered to be one of the most trustworthy banks not only in California but also throughout the United States.

5. PNC Financial Services Group

PNC Financial Services Group, or simply PNC, is a bank holding company with $368 billion in assets as of 2021. It provides retail and commercial banking services and offers an extensive range of financial services and products through more than 3500 branches and approximately 4600 ATMs inside Target stores. The name “PNC” was derived from the initials of the bank’s former name, Pittsburgh National Corporation.

The corporation now known as PNC has since bought other banks such as Meridian Bancorp and National City Corporation, making PNC the sixth-largest bank holding company in the United States by total assets.

PNC is considered to be one of the most trustworthy banks throughout not only California but also the United States.

6. Citigroup

Citigroup is an American multinational banking and financial services corporation with $2 trillion in assets and approximately 200 million customer accounts in more than 160 countries as of December 2011. The company was formed by the merger of Citicorp and Travelers Group in 1998 and has since grown to become one of the largest financial institutions in the world. It is also one of the “Big Four” banks in the United States, JPMorgan Chase, Bank of America, and Wells Fargo.

Citigroup is considered to be one of the most trustworthy banks in California.

7. Capital One Financial Corporation

Capital One Financial Corporation, formerly named Chevy Chase Federal Savings Bank, is a bank headquartered in McLean, Virginia, that offers credit cards, home loans, and savings accounts, among other financial services, to consumers and small businesses. It is now one of the largest MasterCard and Visa credit card providers in the United States, with approximately 65 million customers as of March 2021. The company’s legacy dated to 1923 when founder Caspar Weinberger opened a general store offering loans in Lake Forest, Illinois.

Ally Bank acquired Capital One’s direct banking portfolio for $9 billion in 2011, but the deal allowed it to keep its credit card business.

Capital One is considered one of the most trustworthy banks in California and throughout the United States.

8. Bancorp

Bancorp, which stands for United States Bancorp, is a holding company that operates U.S. Bank and its subsidiaries. It was founded in 1853 as the First National Bank of Cincinnati but changed to its present name after acquiring Sun Security Bank in 1984.

Subsequently, it opened its first out-of-state office in Cleveland, Ohio, in 1985, followed by another branch at Easton Town Center two years later. The bank’s headquarters were moved to Minneapolis during the same year after acquiring First Interstate Bancorp.

9. Apple Federal Credit Union

Apple Federal Credit Union is a credit union that began in 1957 when the first school for training Air Force personnel opened its doors for operation. It is headquartered in Reston, Virginia, and currently has over $1.7 billion assets under management with 135,000 members worldwide.

Apple Federal Credit Union is considered one of the most trustworthy banks in California and throughout the United States.

10. USAA Federal Savings Bank

USAA Federal Savings Bank was founded as Army Air Corps Mail in 1922 to provide financial services to U.S. military personnel and their dependents. It changed its name to its present name in 1930 and is currently headquartered in San Antonio, Texas, with approximately $25 billion assets under management and more than 10 million customers as of March 2013.

It provides banking, insurance, investment, and retirement products and services to past and present armed forces members, officers, enlisted personnel, and their immediate family members. USAA is one of the most trustworthy banks throughout California and the United States.

Conclusion

That’s it, folks; these are the ten most trustworthy banks in California and throughout the United States.

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