Consumer sits in a coffee shop using her online banking website.. New rankings of best online banking. (Source: GaudiLab/Shutterstock)

While operating costs for brick-and-mortar bank branches grow, online bank and credit union products consistently offer lower fees and higher rates than conventional banks. What are the best online financial institutions?

In the second edition of MagnifyMoney’s Best Online Banks roundup, three credit unions made the cut: The $1.2 billion, Boulder, Colo.-based Premier Members Credit Union (No. 1) and the $1.2 billion, Durham, N.C.-based Self-Help Credit Union (No. 4), under the best online “banks” for money market accounts category; and the $1.3 billion, Lake County, Ill.-based Consumers Credit Union (No. 3) for checking accounts.

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Roy Urrico

Roy W. Urrico specializes in articles about financial technology and services for Credit Union Times, as well as ghostwriting, copywriting, and case studies. Also: writer/editor of a semi-annual newsletter for Association for Financial Technology since 1997 and history projects funded by the U.S Interior Department, National Park Service and Warren County (N.Y.).

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