2018 RANKING & REVIEWS
BEST BANKS & CREDIT UNIONS IN EL PASO, TX


We Rate the Top 7 Best Banks & Credit Unions in El Paso to Use Right Now (Plus 1 to Avoid)

In the far western corner of Texas on the banks of the Rio Grande river, stands the city of El Paso, Texas. While it may not be the first to come to mind when thinking of large metropolitan cities, it does have a lot going on.

Best Banks & Credit Unions in El Paso, TX

Award Emblem: Top 7 Best Banks & Credit Unions in El Paso, TX

There are also some outstanding local El Paso banks and credit unions with a lot to offer. Whether you’re looking for loans in El Paso, TX with the lowest interest rates, the latest in mobile banking, or just a smaller homegrown El Paso bank, you can find it here.

In this ranking article, we’re going to go over the ratings and highlights for each of these Top 7 Credit Unions and Banks in El Paso, Texas offers, plus tell you the one particular bank to avoid. We’ll also give you some useful tips for getting the best rates on bank loans in El Paso, TX.



Top 7 Best Banks & Credit Unions in El Paso (and 1 to Avoid) | Brief Comparison & Ranking

Best El Paso, TX Banks & Credit Unions2018 Ratings
City Bank5
GECU5
Wells Fargo5
WestStar Bank5
evolve Federal Credit Union3
FirstLight Federal Credit Union3
United Bank of El Paso Del Norte3
Security Service Federal Credit Union1

Table: Top 7 El Paso Credit Union or Bank (& 1 to Avoid) | Above list is sorted by rating



Banks & Credit Unions in El Paso, TX FAQ | Tips for Getting the Best Rates on Loans in El Paso

One reason people begin shopping around for a new bank or credit union is that they need a home, auto, or personal loan and they’re trying to find the lowest rates on loans in El Paso.

credit unions in el paso, tx

Even saving 1 percentage point on interest, can mean a lot less money you have to pay for the life of the loan. So, we’ve got a few tips to help you find the lowest rates when shopping loans with credit unions and banks in El Paso, TX.

  • Know your FICO Score first. Typically 740+ can get you the best loan rates.
  • Save for a down payment on an auto or home loans to lower principal balance.
  • Shop around at several credit unions and banks in El Paso.
  • Do your homework on what you can afford monthly to be ready in advance.
  • Check rates at the credit unions El Paso offers, they often have lower rates than banks.


AdvisoryHQ’s Selection Methodology

What methodology does AdvisoryHQ use in selecting and finalizing the credit cards, financial products, firms, services, and products that are ranked on its various top-rated lists?

Please click here “AdvisoryHQ’s Ranking Methodologies” for a detailed review of AdvisoryHQ’s selection methodologies for ranking top-rated credit cards, financial accounts, firms, products, and services.


Detailed Review – Top Ranking Best El Paso Banks & Credit Unions (and 1 to Avoid)

Below, please find a detailed review of each firm on our list of outstanding banks & credit unions in El Paso. We have highlighted some of the factors that allowed each El Paso bank or credit union to score so highly in our selection ranking

Click on any of the names below to go directly to the review section for that firm.   

See Also: San Antonio’s Best Banks & Credit Unions for Great Service | Ranking



City Bank Review


City Bank is one of the smaller regional banks in El Paso, Texas. It was started in 1941 as the First State Bank of Morton and is headquartered in Lubbock, TX. City Bank has 24 branches throughout Texas and New Mexico.

Below are the highlights that make City Bank stand out on this 2018 Ranking of the Best El Paso Banks & Credit Unions.

City Bank Services at a Glance:

  • 4 branch locations in El Paso, Texas & surrounding areas
  • Named one of the Best Banks to Work For by American Banker
  • Fast loan process with pre-approval
  • Top 10 mobile banking app, named by American Banker
  • Better Business Bureau A+ rating

Reward Checking that Pays You Back

It’s ironic that the account that many of us have the most money going through is a checking account that doesn’t always earn interest. City Bank is one of the banks in El Paso, TX to consider if you like the idea of interest bearing checking with additional rewards on top of that.

Rating Summary

City Bank scored a 5 on our Ranking of the Best Banks and Credit Unions in El Paso, TX. Although a few more locations would add convenience for their customers, there’s no denying the stellar reviews they get on multiple websites.

Customers note their excellent customer service and that they’re an El Paso bank that they can trust. Their award-winning mobile app and and personal and small business services put them on par with the offerings of larger banks in El Paso.   

Don’t Miss: Best Credit Unions & Banks in Los Angeles (& 1 to Avoid) | Ranking



GECU Review


GECU was started in 1932 by El Paso civil servants who each put in $5 to start a credit union in El Paso, TX. Now, it has 25 branches serving over 365,000 members that live or work in El Paso, Hudspeth, or Doña Ana counties.

Below are the highlights that make GECU stand out on this 2018 best El Paso, TX banks & credit unions ranking.

GECU Services at a Glance:

  • 13 branch locations in El Paso, Texas & surrounding areas
  • Awarded the ServiStar Credit Union Award for outstanding leadership, management, and employee performance.
  • Auto loans as low as 3.05% APR
  • Business resource center
  • Better Business Bureau A+ rating

TalkBox

Most El Paso, TX banks and credit unions have a news or blog section, but GECU’s TalkBox puts all others to shame. It’s a separate website with tons of resources and news features, including “Your Money”, “Your Community”, and “Your World.” If you’re interested in great financial resources, then this is an El Paso credit union that won’t disappoint.

Rating Summary

GECU has an excellent reputation for great customer service, earning 4 and 5 stars on several customer review sites. We rated this credit union in El Paso, TX a 5 on our ranking.

They also offer low rates on loans in El Paso, TX and have a lot of valuable financial planning resources on their site for both personal and business finances.

GECU may be one of the smaller banks or credit unions El Paso offers, but they give a lot to their members, which is why they earn such top marks.   

Related: Best Credit Unions & Banks in New York City (+ 2 to Avoid) | Ranking



Wells Fargo Review


By far the largest of the banks El Paso, Texas offers is Wells Fargo. Famously known for their Wells Fargo Stagecoach logo, they have a 160-year+ history and do business with 70 million customers. Wells Fargo El Paso offers the option to bank with a global player.

Below are the highlights that make Wells Fargo El Paso, TX stand out on this 2018 Ranking of Best El Paso Banks & Credit Unions.

Wells Fargo Bank Services at a Glance:

  • 11 branch locations in El Paso, Texas & surrounding areas
  • Ranked 25th on Fortune’s rankings of America’s largest corporations
  • Rated #1 in Overall Institutional Satisfaction among global financial institutions
  • Over 65 years of auto loan experience
  • Better Business Bureau not rated

Credit Card Offers that Help You Get Ahead

Something that Wells Fargo El Paso can provide because it’s one of the largest banks around is great credit cards offers. They have a card with 0% APR for 18 months on purchases and balance transfers, plus another card that can earn you $200 in cash rewards after spending just $1,000.

Rating Summary

As one of the best big bank choices in El Paso, we gave Wells Fargo El Paso a 5 ranking. While it can be hard for larger banks to ensure great customer service everywhere, this is one of the El Paso, TX banks that has fairly decent customer reviews.

For those looking for the convenience of multiple branches throughout the country and even the ability to bank internationally, Wells Fargo in El Paso, TX is a great option for both personal and business banking.   

Popular Article: Best Dallas Banks & Credit Unions (Plus 2 to Avoid) | Ranking



WestStar Bank Review


If you like smaller, regional banks, then WestStar Bank will be right up your alley. They serve the communities of El Paso, TX and Las Cruces, NM.

They’re also an El Paso bank that takes community service seriously. Their employees serve on over 95 boards and committees of nonprofit and civic organizations.

Below are the highlights that make WestStar Bank stand out on this 2018 best El Paso banks & credit unions ranking.

WestStar Bank Services at a Glance:

  • 10 branch locations in El Paso, Texas & surrounding areas
  • Has earned three consecutive “Outstanding” CRA ratings from the federal government for investing in communities
  • Treasury & wealth management
  • Merchant resource center
  • Better Business Bureau A+ rating

Community Leader

It’s a good feeling for many when they know they’re working with banks or credit unions in El Paso that care about the community. WestStar Bank definitely comes out ahead in this area. Besides their employees serving on over 95 community boards, they also support many local charities and are active in community reinvestment.

Rating Summary

WestStar Bank earned a 5 on our list of the top credit unions and banks in El Paso. Their robust support of the local communities they serve is truly something to applaud and makes their customers feel good about banking with them.

They also offer many of the same personal and business banking products as larger El Paso banks, including wealth management, insurance, and loans, all while providing a local community touch.  

Read More: Top Banks & Credit Unions in Houston, TX (& 2 to Avoid) | Ranking



evolve Federal Credit Union Review


evolve Federal Credit Union is a financial institution that makes giving back to the El Paso community a priority, having recently launched the “El Paso…our children!” initiative. They’re a local credit union in El Paso, TX that has been serving the community since 1936.

Below are the highlights that make evolve Federal Credit Union stand out on this 2018 best El Paso banks & credit unions ranking.

evolve Federal Credit Union Services at a Glance:

  • 6 branch locations in El Paso, Texas & surrounding areas
  • Auto loans as low as 3.10% APR
  • Patronage Dividend
  • Investment & insurance products
  • Better Business Bureau A+ rating

Earn Dividends by Banking with Them

An El Paso credit union differs from a bank in that they are not-for-profit. Their member are also their shareholders. It’s easy to see what type of Patronage Dividend you can earn with evolve by using their calculator. For example, if you had a loan balance of $10,000, the estimated annual dividend you’d earn is $44.32.

Rating Summary

We rated evolve Federal Credit Union a 3 on our 2018 Ranking of the Top Banks and Credit Unions in El Paso. They have some excellent personal banking account choices to help you get ahead financially and decent rates on loans in El Paso, TX.

With more emphasis on small business banking, we can easily see them getting a higher ranking among credit unions in El Paso, TX in the future.

Their community involvement, commitment to giving back, and being homegrown in El Paso are definitely all pluses that make this an excellent choice as a credit union in El Paso, TX to consider banking with.  

Related: Yadkin Bank Ranking & Review



FirstLight Federal Credit Union Review


FirstLight Federal Credit Union was forged by pioneers in 1955 who had a plan to help military and civilians at Biggs Air Force Base with their finances. Now, over sixty years later, anyone that lives, works, or worships in the Fort Bliss community, El Paso, or Doña Ana County can join this El Paso credit union.

Below are the highlights that make FirstLight Federal Credit Union stand out on this 2018 Ranking Best El Paso Banks & Credit Unions.

FirstLight Federal Credit Union Services at a Glance:

  • 7 branch locations in El Paso, Texas & surrounding areas
  • Recognized as Army Credit Union of the Year by the Defense Credit Union Council
  • Auto loans as low as 3.75% APR
  • Personal & business banking
  • Better Business Bureau A+ rating

Great Interest Rates

If you’re looking for credit unions in El Paso, TX with great rates on both loans and savings, you’ll definitely want to take a look at FirstLight. Their money market rates are up to 118% higher than other banks in El Paso, Texas. They also offer mortgage rates as low as 3.912% APR.

Rating Summary

FirstLight Federal Credit Union scored a 3 on our rating of recommended credit unions and banks in El Paso, TX. They are definitely another community dedicated organization that provides a hometown touch. Their interest rates on investments and savings are also some of the best in the area.

They have a few negative marks from customers on their phone support, so if they take a look at improving that area of their customer service, they could easily move up on a future ranking of credit unions in El Paso.     

Don’t Miss: What Is Goldman Sachs and What Does It Do? Get the Facts About Goldman Sachs (Reviews and Ranking)


Free Wealth & Finance Software - Get Yours Now ►


United Bank of El Paso Del Norte Review


One of the newer banks in El Paso, Texas that is becoming a popular local place to bank is United Bank of El Paso Del Norte. It was founded by local business men and business women in 2001 and today has almost 500 local community shareholders.

Below are the highlights that make United Bank of El Paso Del Norte stand out on this 2018 best El Paso banks & credit unions ranking.

United Bank of El Paso Del Norte Services at a Glance:

  • 4 branch locations in El Paso, Texas & surrounding areas
  • Has earned several Small Business Association (SBA) awards
  • Business & practice loans
  • Internet & telephone banking
  • Better Business Bureau A+ rating

Top SBA Lender for 9 Years

If you’re a small business and looking for one of the best lenders for your needs, then United Bank of El Paso Del Norte is among them. They’ve been recognized as a top Small Business Administration lender for 9 years. They make business loans for “any purchase that is not illegal or highly speculative,” per their website.

Rating Summary

United Bank of El Paso Del Norte is one of the El Paso banks that’s been coming on strong and growing since their inception. We rated them a high 3 as a top El Paso bank or credit union.

They could use a little modernization of their website and a few more branch locations, which would easily move them up on a future banks in El Paso, TX ranking list. They definitely offer one of the best banking options for SBA loans for small and growing businesses.

Popular Article: Umpqua Bank Review & Ranking | What You Should Know About Umpqua


Security Service Federal Credit Union Review


The El Paso bank or credit union that we recommend staying away from for the time being is Security Service Federal Credit Union. From frustrating car loan experiences to difficulty adding spouses to bank accounts, there are a number of reasons customers give in their reviews for avoiding this El Paso bank.

Below are some of the improvements we feel would help Security Service Federal Credit Union earn a spot on a future top credit unions in El Paso, TX ranking.

Address Customer Complaints

There seems to be a breakdown in customer service at this credit union in El Paso, TX, with negative experiences happening across multiple departments. By improving their customer support they could greatly improve their reputation.

Rating Summary

As one of the credit unions in El Paso that needs improvement, we rated Security Service Federal Credit Union a 1 on our ranking. We do feel that they could easily move up on a future best banks and credit Unions in El Paso, TX with some key improvements.

Beyond their customer service, if they increased their dedicated branches beyond 3, that would also be a plus. They offer a lot of the services that you’d expect from an El Paso credit union, so they’re not far off from a better reputation.

banks in el paso tx


Conclusion – The 7 Most Outstanding and Best El Paso, TX Banks & Credit Unions (& the 1 to Avoid)

You can find exceptional banks and credit unions in El Paso, Texas if you know where to look. In this border town, you have your choice of larger nationwide banks, like Wells Fargo El Paso, as well as smaller and community oriented financial institutions, like the United Bank of El Paso Del Norte.

Shopping for a new car loan or credit card? Then you can’t go wrong with one of these El Paso Banks. We suggest comparing rates and rewards to find the best deal that can save you money while also being a great place for your everyday banking in El Paso.


Rate Table Disclaimer

Click here to read AdvisoryHQ’s disclaimer on the rate table(s) displayed on this page.


Image sources:

  • https://pixabay.com/en/el-paso-night-city-lights-1180356/
  • https://pixabay.com/en/el-paso-texas-sky-clouds-city-86585/


AdvisoryHQ (AHQ) Disclaimer:

Reasonable efforts have been made by AdvisoryHQ to present accurate information, however all info is presented without warranty. Review AdvisoryHQ’s Terms for details. Also review each firm’s site for the most updated data, rates and info.

Note: Firms and products, including the one(s) reviewed above, may be AdvisoryHQ's affiliates. Click to view AdvisoryHQ's advertiser disclosures.

Summary
Review Date
Reviewed Item
Multiple
Author Rating
41star1star1star1stargray