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9 common types of banks: Which one is right for you?

Yahoo Finance
Summary
Nutrition label

72% Informative

There are more than 10,000 banks in the U.S. Each bank offers its own unique set of services, branch locations, account fees, interest rates, and more.

The majority of people give their business to just a few dozen megabanks.

When you default to one of these large financial institutions, you could be missing out on major perks.

Online-only banks offer digital-only services with an emphasis on tech-forward innovations and enhanced user experience.

Neobanks offer a small range of core banking products, such as standard checking and savings accounts.

Credit unions are nonprofits owned by their members and offer lower account fees and interest rates.

Savings and loan associations offer basic banking services, but they cater primarily to individuals.

VR Score

77

Informative language

78

Neutral language

64

Article tone

informal

Language

English

Language complexity

44

Offensive language

not offensive

Hate speech

not hateful

Attention-grabbing headline

not detected

Known propaganda techniques

not detected

Time-value

long-living

External references

no external sources

Source diversity

no sources

Affiliate links

no affiliate links