Let’s take a look at the top mortgage lenders in Idaho, based on annual loan origination volume.
The Gem State was one of the hotter housing markets last year, seeing an influx of buyers from other states nationwide.
That, plus rising home prices, led to over $42 billion in home loan origination volume there last year.
And while some 500+ mortgage companies took part, only one could claim the top spot.
Interestingly, the #1 mortgage lender in Idaho is homegrown. Read on to find out who it is.
Top Mortgage Lenders in Idaho (Overall)
Ranking
Company Name
2021 Loan Volume
1.
Idaho Central CU
$4.2 billion
2.
Rocket Mortgage
$2.4 billion
3.
U.S. Bank
$1.3 billion
4.
Fairway Independent
$1.2 billion
5.
UWM
$1.1 billion
6.
Wells Fargo
$1.1 billion
7.
Academy Mortgage
$1.0 billion
8.
Guild Mortgage
$911 million
9.
Glacier Bank
$843 million
10.
Willamette Valley Bank
$834 million
Even if you’re headquartered in a particular state, it’s difficult to beat out the national mortgage brands.
But Idaho Central Credit Union did just that, originating $4.2 billion in home loans in the state of Idaho in 2021, per HMDA data from Richey May.
That was more than enough to take out top ranked Rocket Mortgage, which only mustered $2.4 billion.
Pretty impressive feat, and a testament to how much Idahoans like their own local lender. It’s also one of the few credit unions (if only) to rank #1 in a state.
In third was U.S. Bank with $1.3 billion, followed by Fairway Independent Mortgage with $1.2 billion, and United Wholesale Mortgage with $1.1 billion.
Spots six through 10 went to Wells Fargo, Academy Mortgage, Guild Mortgage, Glacier Bank, and Willamette Valley Bank.
So just one hometown lender the in the bunch, though it was far and away the leader.
Top Idaho Mortgage Lenders (for Home Buyers)
Ranking
Company Name
2021 Loan Volume
1.
Idaho Central CU
$1.6 billion
2.
Fairway Independent
$659 million
3.
Academy Mortgage
$525 million
4.
U.S. Bank
$487 million
5.
UWM
$476 million
6.
Supreme Lending
$469 million
7.
Wells Fargo
$440 million
8.
Glacier Bank
$433 million
9.
Willamette Bank
$430 million
10.
Chase
$389 million
As far as home purchase lending was concerned, Idaho Central was even more dominant, taking first place easily with $1.6 billion funded.
That was more than double second place Fairway Independent’s $659 million, and tripled Academy Mortgage’s $525 million.
In fourth was U.S. Bank with $487 million, followed by UWM with $476 million.
The rest of the best included Dallas-based Supreme Lending, Wells Fargo, Glacier Bank, Willamette Bank, and Chase.
Surprisingly, just the one Idaho-based company in the list, despite home purchases being pretty personal, and thus often local.
But again, Idaho’s own Idaho Central CU was easily the leader here too.
Top Refinance Lenders in Idaho (for Existing Homeowners)
Ranking
Company Name
2021 Loan Volume
1.
Idaho Central CU
$2.6 billion
2.
Rocket Mortgage
$2.0 billion
3.
U.S. Bank
$721 million
4.
UWM
$670 million
5.
Wells Fargo
$663 million
6.
Freedom Mortgage
$633 million
7.
loanDepot
$592 million
8.
Fairway Independent
$554 million
9.
Guild Mortgage
$529 million
10.
Pennymac
$505 million
If we filter out purchase loans and focus only on existing homeowners who refinanced, Idaho Central was still king with $2.6 billion funded.
However, Rocket Mortgage wasn’t too far behind with $2 billion in refi originations. It then dropped off quite a bit with U.S. Bank coming in third with $721 million.
UWM and Wells Fargo took fourth and fifth, with $670 million and $663 million, respectively.
The bottom half of the top 10 included Freedom Mortgage, loanDepot, Fairway Independent, Guild Mortgage, and Pennymac.
Again, mostly bigger national brands and only the one Idaho-based lender. Perhaps there just aren’t a lot of large mortgage companies headquartered in the state.
But impressive to see Idaho Central sweep all three categories, including both home purchases and mortgage refinances.
Top Mortgage Lenders in Boise
Ranking
Company Name
2021 Loan Volume
1.
Idaho Central CU
$2.5 billion
2.
Rocket Mortgage
$1.3 billion
3.
Fairway Independent
$1.0 billion
4.
Academy Mortgage
$729 million
5.
Guild Mortgage
$614 million
6.
UWM
$611 million
7.
U.S. Bank
$539 million
8.
Movement Mortgage
$469 million
9.
Wells Fargo
$458 million
10.
Flagstar Bank
$429 million
The Best Idaho Mortgage Lenders (based on customer reviews)
We’ve discussed the biggest mortgage lenders in the state of Idaho. But what about the best?
As I always say, it’s difficult to get mortgage-specific reviews for a bank or credit union because they offer lots of different products.
There are also smaller companies that don’t necessarily make the lists above, but are still highly-rated.
For example, Meridian, Idaho-based Premier Mortgage Resources has a 4.95/5 on Zillow from nearly 300 reviews.
And Boise-based Blue Sky Financial has a 4.88/5 from nearly 150 reviews. They aren’t as big as the others, but come highly reviewed and are local to Idaho.
As for the big guys, Rocket has a 4.48/5 on Zillow, U.S. Bank has a 4.98/5, Fairway Independent a 4.95/5, and Wells Fargo a 4.95/5.
So there appear to be good options both small and large, and local and non-local. Take the time to compare different companies, and different types of companies.
That includes credit unions, banks, nonbank lenders, and independent mortgage brokers located in the state of Idaho and beyond.
Mike Stocker | South Florida Sun Sentinel | Tribune News Service | Getty Images
The recent softening in house prices may be helping homebuyers swallow higher mortgage rates. Despite a rise in rates last week, demand for mortgages rebounded.
Total mortgage application volume rose 3.7% last week compared with the previous week, according to the Mortgage Bankers Association’s seasonally adjusted index.
The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($726,200 or less) increased to 6.55% from 6.43%, with points remaining at 0.63 (including the origination fee) for loans with a 20% down payment.
“Although incoming data points to a slowdown in the U.S. economy, markets continue to expect that the Fed will raise short-term rates at its next meeting, which have pushed Treasury yields somewhat higher,” wrote Joel Kan, MBA’s deputy chief economist. “As a result of the higher yields, mortgage rates increased for the second straight week to their highest level in over a month.”
Despite higher rates, mortgage applications to buy a home, which had plummeted the week before, rose 5% last week. They were, however, 28% lower than the same week one year ago.
Homebuyers today are seeing house prices ease, and that may be boosting demand. While prices are still higher than they were a year ago on a national basis, some of the most expensive metropolitan markets are now seeing prices lower than a year ago. Seven states — California, Washington, Montana, Idaho, Nevada, Utah and Oregon — as well as the District of Columbia, all reported lower prices in February compared with February 2022, according to CoreLogic.
Applications last week to refinance a home loan increased 2% from the previous week and were 51% lower than the same week a year ago. One year ago, the average rate on the 30-year fixed was 5.37%, but in 2021 rates were in the low 3% range, so the vast majority of borrowers already have much lower rates than those offered today.
Mortgage rates fell slightly to start this week, as investors digested news of regional bank earnings as well as concern over the debt ceiling.
“Investors were indeed buying more bonds [Tuesday] to move away from risk that the banking sector could slide back into a more tumultuous state,” wrote Matthew Graham, chief operating officer of Mortgage News Daily. “In fact, the index that tracks regional banks fell below the levels seen during the most volatile moments of the mini banking crisis in March.”
On average, it costs $23,890 a year to attend an out-of-state school versus $9,410 for an in-state school. That’s $14,480 more per year you could pay — just to attend a college in a different state than where you grew up.
Source: Giphy.com
Over four years, you could end up paying $60,000 more than someone who attends school in-state. So, what are some ways you can lower the cost of out-of-state tuition? Here are seven of our biggest tips.
What’s Ahead:
1. Research Regional Reciprocity Programs
Many schools have “regional reciprocity agreements” or “tuition exchange programs” that let you attend certain out-of-state colleges for in-state rates.
For instance, 18 colleges in Georgia offer in-state tuition to residents of border states. This includes Alabama, Tennessee, North Carolina, South Carolina, and Florida.
On a much broader scale, several states have banded together to create regional reciprocity programs that give you reduced out-of-state tuition at hundreds of public and private schools.
The four biggest regional reciprocity programs include:
Midwest Student Exchange — Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, and Wisconsin.
The New England Regional Student Program — Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.
Academic Common Market — Alabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.
Western Undergraduate Exchange — Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington, Wyoming, and the Commonwealth of the Northern Mariana Islands.
Some schools will offer in-state tuition to any student in a neighboring state, while others may require you to meet certain criteria — such as having a specific high school GPA or declaring a certain major.
MU30 Tip: Already have a few colleges in mind? Look on their websites or contact financial aid to see if they have any tuition exchange or reciprocity programs in place.
2. See If You Qualify for a Tuition Waiver
In some cases, you may be able to get a tuition waiver that allows you to attend an out-of-state college at a reduced rate. Tuition waivers are usually granted to students with special circumstances:
You (or someone in your immediate family) is a veteran or active duty military member.
You were valedictorian or a high achiever.
You’re enrolled in a special degree program, such as STEM or health care.
You work for the school you wish to attend.
You were or are a part of the foster care system.
You’re a nontraditional student.
You’re of Native American heritage.
You have a financial hardship.
To see if you qualify, search for the phrase “tuition waiver” on your favorite schools’ websites. This should pull up a list of all the tuition waivers currently available. (For example, I found 13 waivers on the University of Washington’s website.)
3. Apply for Out-of-State Scholarships
There are several scholarships specifically for students who are attending college out-of-state. These scholarships can help you cover the costs of tuition, room and board, and other expenses.
To find out-of-state scholarships, start by checking with your college’s financial aid office. There’s a good chance the school has scholarships earmarked for nonresidents.
From there, do a scholarship search using a tool like the College Board Scholarship Search or Fastweb. You may find some private scholarships to help lower your out-of-pocket costs.
Read more: Scholarships and Grants: How To Score Free Money for College
MU30 Tip: Does your parent or guardian work in higher education at one of these Tuition Exchange member schools? If so, you can apply for a reciprocal scholarship that lets you attend hundreds of schools in the U.S., Canada, Greece, Morocco, the United Arab Emirates, and Switzerland at a free or reduced rate!
4. Think About Becoming a Resident Assistant
If you’re planning on attending college out-of-state, one way to lower your costs is to become a resident assistant (RA). RAs typically receive free or reduced-cost housing in exchange for their duties, which can include things like leading tours and organizing social events.
So while you may not get a tuition discount, it could help you save on housing while you’re there.
To become an RA, start by talking to your college’s housing office. They should be able to tell you about any open RA positions and their requirements. You may also need to fill out an application and go through an interview process.
5. Negotiate Out-of-State Tuition With the Financial Aid Office
It’s not widely advertised, but you can technically negotiate the cost of tuition and fees with the financial aid office. In fact, doing so could save you anywhere from 5% to 15%. On a four-year degree that costs $60,000, that’s a savings of $3,000 to $9,000.
Beyond negotiating, the financial aid office is also a way to find out what types of aid are available to you as an out-of-state student.
Read more:
6. Become an In-State Resident
This tip may seem a little far-fetched, but hear me out. If you’re taking a gap year, for instance, and have time to establish residency in the state where you want to attend college, it could be worth it.
Every state has different requirements for residency, but you’ll typically need to live there for at least a year before you can apply for in-state status.
Start by researching the requirements for the state you want to move to, then get working on completing them. This could include getting a job or an apartment in the state, getting a driver’s license, and more.
7. Look for Schools With Lower Out-of-State Tuition Rates
If all else fails and there’s no way for you to get reduced out-of-state tuition, another option is to simply look for schools that charge lower rates for out-of-state students.
MU30 Tip: Want to see which colleges have the lowest tuition rates? Check out this affordability calculator from the U.S. Department of Education.
Once you have out-of-state tuition rates for different colleges, you can start to compare your options and make a decision about which school is the best fit for you.
Read more: Not Enough Financial Aid? Here are 10 Ways To Pay for College
Bottom Line
Out-of-state tuition can be costly, but there are ways to minimize costs without racking up a ton of student loan debt. Use these tips to see how much you can save.
Featured image: Alexander Lukatskiy/Shutterstock.com
On average, it costs $23,890 a year to attend an out-of-state school versus $9,410 for an in-state school. That’s $14,480 more per year you could pay — just to attend a college in a different state than where you grew up.
Source: Giphy.com
Over four years, you could end up paying $60,000 more than someone who attends school in-state. So, what are some ways you can lower the cost of out-of-state tuition? Here are seven of our biggest tips.
What’s Ahead:
1. Research Regional Reciprocity Programs
Many schools have “regional reciprocity agreements” or “tuition exchange programs” that let you attend certain out-of-state colleges for in-state rates.
For instance, 18 colleges in Georgia offer in-state tuition to residents of border states. This includes Alabama, Tennessee, North Carolina, South Carolina, and Florida.
On a much broader scale, several states have banded together to create regional reciprocity programs that give you reduced out-of-state tuition at hundreds of public and private schools.
The four biggest regional reciprocity programs include:
Midwest Student Exchange — Illinois, Indiana, Kansas, Michigan, Minnesota, Missouri, Nebraska, North Dakota, and Wisconsin.
The New England Regional Student Program — Connecticut, Maine, Massachusetts, New Hampshire, Rhode Island, and Vermont.
Academic Common Market — Alabama, Arkansas, Delaware, Florida, Georgia, Kentucky, Louisiana, Maryland, Mississippi, Oklahoma, South Carolina, Tennessee, Texas, Virginia, and West Virginia.
Western Undergraduate Exchange — Alaska, Arizona, California, Colorado, Hawaii, Idaho, Montana, Nevada, New Mexico, North Dakota, Oregon, South Dakota, Utah, Washington, Wyoming, and the Commonwealth of the Northern Mariana Islands.
Some schools will offer in-state tuition to any student in a neighboring state, while others may require you to meet certain criteria — such as having a specific high school GPA or declaring a certain major.
MU30 Tip: Already have a few colleges in mind? Look on their websites or contact financial aid to see if they have any tuition exchange or reciprocity programs in place.
2. See If You Qualify for a Tuition Waiver
In some cases, you may be able to get a tuition waiver that allows you to attend an out-of-state college at a reduced rate. Tuition waivers are usually granted to students with special circumstances:
You (or someone in your immediate family) is a veteran or active duty military member.
You were valedictorian or a high achiever.
You’re enrolled in a special degree program, such as STEM or health care.
You work for the school you wish to attend.
You were or are a part of the foster care system.
You’re a nontraditional student.
You’re of Native American heritage.
You have a financial hardship.
To see if you qualify, search for the phrase “tuition waiver” on your favorite schools’ websites. This should pull up a list of all the tuition waivers currently available. (For example, I found 13 waivers on the University of Washington’s website.)
3. Apply for Out-of-State Scholarships
There are several scholarships specifically for students who are attending college out-of-state. These scholarships can help you cover the costs of tuition, room and board, and other expenses.
To find out-of-state scholarships, start by checking with your college’s financial aid office. There’s a good chance the school has scholarships earmarked for nonresidents.
From there, do a scholarship search using a tool like the College Board Scholarship Search or Fastweb. You may find some private scholarships to help lower your out-of-pocket costs.
Read more: Scholarships and Grants: How To Score Free Money for College
MU30 Tip: Does your parent or guardian work in higher education at one of these Tuition Exchange member schools? If so, you can apply for a reciprocal scholarship that lets you attend hundreds of schools in the U.S., Canada, Greece, Morocco, the United Arab Emirates, and Switzerland at a free or reduced rate!
4. Think About Becoming a Resident Assistant
If you’re planning on attending college out-of-state, one way to lower your costs is to become a resident assistant (RA). RAs typically receive free or reduced-cost housing in exchange for their duties, which can include things like leading tours and organizing social events.
So while you may not get a tuition discount, it could help you save on housing while you’re there.
To become an RA, start by talking to your college’s housing office. They should be able to tell you about any open RA positions and their requirements. You may also need to fill out an application and go through an interview process.
5. Negotiate Out-of-State Tuition With the Financial Aid Office
It’s not widely advertised, but you can technically negotiate the cost of tuition and fees with the financial aid office. In fact, doing so could save you anywhere from 5% to 15%. On a four-year degree that costs $60,000, that’s a savings of $3,000 to $9,000.
Beyond negotiating, the financial aid office is also a way to find out what types of aid are available to you as an out-of-state student.
Read more:
6. Become an In-State Resident
This tip may seem a little far-fetched, but hear me out. If you’re taking a gap year, for instance, and have time to establish residency in the state where you want to attend college, it could be worth it.
Every state has different requirements for residency, but you’ll typically need to live there for at least a year before you can apply for in-state status.
Start by researching the requirements for the state you want to move to, then get working on completing them. This could include getting a job or an apartment in the state, getting a driver’s license, and more.
7. Look for Schools With Lower Out-of-State Tuition Rates
If all else fails and there’s no way for you to get reduced out-of-state tuition, another option is to simply look for schools that charge lower rates for out-of-state students.
MU30 Tip: Want to see which colleges have the lowest tuition rates? Check out this affordability calculator from the U.S. Department of Education.
Once you have out-of-state tuition rates for different colleges, you can start to compare your options and make a decision about which school is the best fit for you.
Read more: Not Enough Financial Aid? Here are 10 Ways To Pay for College
Bottom Line
Out-of-state tuition can be costly, but there are ways to minimize costs without racking up a ton of student loan debt. Use these tips to see how much you can save.
Featured image: Alexander Lukatskiy/Shutterstock.com
We’re living longer than ever before, and doing so in better health. So what can you do when you retire and want to keep your mind sharp or need to gain additional skills to stay competitive at work?
For many, the answer is to go back to school. But tuition can be prohibitively expensive.
At the same time, schools want their classrooms to be full of engaged students, regardless of age. In the interest of continuing education, many colleges and universities offer reduced or free college for seniors (typically, adults 60 and up, although the rules vary).
In fact, we found at least one option in every state.
Free (or Cheap) College for Seniors in Every State
While some institutions only allow senior students to audit classes, many offer the chance to earn credits toward a degree at a reduced — or completely waived — tuition rate.
Does your state have a senior citizen education program you can use? Find out below!
1. Alabama
The Alabama Commission on Higher Education states that Alabama seniors can attend any two-year institution within the state tuition-free.
Adults 60 and older should contact the financial aid office at any community college for admission and eligibility details.
Some Alabama schools, like Coastal Alabama Community College, offer online courses if you want to avoid in-person classes.
2. Alaska
The University of Alaska waives tuition for senior-citizen residents who receive full Social Security benefits. Seniors must wait until the first day of classes to enroll to ensure that there’s space remaining; they must also complete a tuition-waiver form.
Additional costs such as student activity, health center and lab fees are not covered; the student must pay them directly.
Online courses may be included if offered; check with the admissions office for confirmation.
3. Arizona
All 10 campuses of Maricopa Community College allow senior citizens to take classes for credit at 50% of the full tuition cost.
Students 65 and older must register between the first and second class sessions of the semester to ensure space is available. You can register for in-person, online or hybrid classes.
4. Arkansas
Arkansas waives tuition for anyone 60 and over who wants to work toward an undergraduate or graduate degree at state institutions.
Student fees may apply, and senior citizens may register only for classes with space available. If you need online courses, check with your chosen college to see what options you have.
5. California
California State University waives all tuition for state-supported classes and dramatically reduces campus fees for residents age 60 or older.
Different Cal State locations may offer online courses or in-person classes. Students who attend in-person classes must provide proof of COVID-19 vaccination.
6. Colorado
Students age 55 and older may attend class on a space-available basis at Colorado State University. There is no tuition fee, but visitors don’t get credit for attending class. It is up to the instructor how participation and grading of assignments and tests are handled. CSU currently offers face to face, hybrid and online classes.
At the University of Colorado Denver, people 60 and older may enroll on a no-credit basis to attend up to two classes per semester as auditors when space is available. (Courses with a lab component are excluded, as are computer courses and online courses.)
7. Connecticut
Residents 62 and up may attend state colleges, including community colleges, for free on a space-available basis.
At Central Connecticut State University, for example, tuition is waived for any resident over the age of 62 who applies for full- or part-time admission for a degree-granting program. Online courses are included.
Senior students may also take noncredit courses on a space-available basis and have tuition waived. All students must still pay all other fees.
8. Delaware
The University of Delaware, Delaware State University, and Delaware Technical and Community College allow all permanent state residents age 60 or older to audit or take classes for credit for free.
At the University of Delaware, students wishing to use the program must apply for admission on a space-available basis. Some graduate degrees may be eligible, as well. Residents can register for online or in-person courses.
Participants must pay all related student fees and buy their own textbooks.
9. District of Columbia
Senior citizens 65 and up may audit undergraduate courses from Georgetown University’s School of Continuing Studies. These students pay a fee of $32 per credit, which means a three-credit course will cost $96.
To audit a course, there must be available space and the instructor of record must approve the enrollment.
10. Florida
The Florida college system waives application, tuition and student fees for those age 60 and above, but colleges will award no credit and will grant admission on a space-available basis. Check to see whether your chosen college covers online courses as well as in-person ones.
Fun fact: Florida Atlantic University’s Lifelong Learning Society has the largest adult continuing education program in the U.S. It even has its own auditorium on campus to help serve FAU’s 30,000 new registrants each year.
11. Georgia
Georgia residents age 62 and above may take classes on a space-available basis for “little or no cost” at the state’s public colleges.
Seniors may choose to take classes for credit or continuing education, but they must apply through the regular admissions process at their school of choice. Many general education courses are offered online.
12. Hawaii
The Senior Citizen Visitor Program at the University of Hawaii and state community colleges allows senior residents age 60 and up to attend up to two courses per semester free of charge. Seniors who have been residents of Hawaii for at least one year may enroll in in-person, hybrid or online courses for no cost. It’s recommended but not required for students to be vaccinated against COVID-19. Students must demonstrate tuberculosis (TB) clearance by providing test results or a TB risk assessment form signed by a licensed U.S. health care provider.
Schools will not award credit nor will they keep permanent records of students’ class history.
13. Idaho
Programs in Idaho vary based on institution, but some schools offer good deals. The College of Southern Idaho offers free tuition for lower division courses for students aged 60 and older, in addition to other benefits. The college has online and in-person courses.
At Boise State University, Idaho residents who are at least 65 years old can audit classes on a space-available basis for free except for applicable special course fees. BSU offers online courses as well as in-person ones.
14. Illinois
Upon admission, senior citizens age 65 and up who meet income requirements can attend regular credit courses at Illinois public institutions for free. Lab, student and other fees still apply. Each institution will have guidance on registering for online or in-person classes.
15. Indiana
Indiana University offers programs that allow retired residents age 60 and older to take up to nine credit hours per semester and pay just 50% of in-state tuition fees. Courses are in person.
16. Iowa
Private institution Simpson College in Indianola allows people 65 and older to take one noncredit class for free per semester. Courses are open on a space-available basis and do not include lab courses. Online courses may be available.
17. Kansas
Tuition and fees are waived for students age 65 and older taking classes on a space-available basis. Residents must be admitted to a state-supported school to take advantage of this discount. Each school can also provide info on in-person versus online courses.
The registration process varies: The University of Kansas and Wichita State University, for example, require senior auditors to apply for admission. Online or in-person courses may be offered.
18. Kentucky
Tuition and fees are waived for students age 65 and older taking classes on a space-available basis. Residents must be admitted to a state-supported school to take advantage of this discount. Each school can also provide info on in-person versus online courses.
19. Louisiana
Students age 65 and up attending Louisiana state schools receive free tuition and 50% off books and materials at the campus student bookstore. Check with each school to see if online courses are included.
20. Maine
Senior citizens 65 and up may attend undergraduate classes as degree-seeking or audit students in the University of Maine System for free, subject to space availability.
Each college within the system can provide info on the types of courses covered (i.e., online, in-person, hybrid).
21. Maryland
Any student in the University of Maryland System who is retired and over the age of 60 may have tuition waived for up to three courses per semester, even for degree-granting programs. Online courses are available as well as face-to-face offerings.
Online courses are available as well as face-to-face offerings.
22. Massachusetts
Residents age 60 or older can take at least three credits per semester at any state-supported school in Massachusetts and receive free tuition.
Each location has information on what online courses are offered.
23. Michigan
Opportunities for seniors in Michigan vary by institution.
At Michigan Tech, for example, students 60 and older can have tuition waived for up to two courses per semester. Seniors must apply through the admissions office.
Western Michigan University invites seniors 62 and older to register for one class per semester tuition-free, which may include online classes.
At Wayne State University in Detroit, seniors 60 and up receive a 75% discount on tuition but must pay registration and related fees. Wayne State offers some online courses.
24. Minnesota
Minnesota waives tuition for senior citizens 62 and older, but fees and online options may vary by school. At the University of Minnesota, seniors pay a $10 fee per credit, but they can audit for free.
25. Mississippi
There’s no statewide benefit in Mississippi, but some schools have programs for seniors.
Mississippi State University provides a waiver to residents age 60 or older for classes offered on the Starkville or Meridian campuses or by the Center for Distance Education. Seniors are limited to six semester hours per semester and a maximum of 18 credit hours per calendar year, where space is available. MSU offers online courses as well as traditional in-person ones.
The University of Mississippi’s Office of Professional Development and Lifelong Learning allows seniors 65 and older to take one class for free per semester (up to four hours) at any UM campus.
26. Missouri
Missouri residents age 65 and older are exempt from paying tuition at state-supported institutions for classes attended on a noncredit basis. Schools may limit the number of students who receive the tuition benefit based on space availability. Online classes are offered in addition to in-person ones.
27. Montana
The Montana University System offers a tuition waiver for in-state residents 65 or older. Campus and registration fees are not waived. Choose from online or in-person classes.
28. Nebraska
Chadron State College allows adults 65 and up to audit one course per semester for free. The college offers classes online and on campus.
29. Nevada
The University of Nevada, Las Vegas allows seniors 62 and up to take autumn and spring courses free of charge. They pay 50% tuition for summer classes. Lab and other course fees are not covered. Online courses may be offered.
30. New Hampshire
The University of New Hampshire offers residents 65 and older free tuition for two credit-bearing classes per academic year on a space-available basis, so long as they’re not enrolled in a degree program. Courses are offered online or in person.
31. New Jersey
Rutgers University allows retired New Jersey residents 62 and older to audit courses for free in the spring and fall semesters at its Camden, New Brunswick and Newark campuses, space permitting. Current guidelines allow senior citizens to audit in-person or online classes if they have been fully vaccinated against COVID-19.
32. New Mexico
New Mexico offers reduced tuition of just $5 per credit hour to state residents 65 and older. Online courses are available.
For-credit classes are eligible as well as auditing; senior citizens can take no more than 10 credit hours per semester. The program is offered on a space-available basis, and students are responsible for paying any additional course fees.
33. New York
Many schools offer free or reduced tuition for senior citizens. Queens College allows residents 60 and up to audit any course on a space-available basis after completing a Senior Citizen Auditor Application and paying $80 per semester. Up-to-date COVID-19 vaccinations are required to enroll.
At SUNY Purchase, New York state residents 60 and older can enroll tuition-free in a maximum of two credit-bearing, on-campus courses in which space is available. They pay a $50 audit fee, $20 ID processing fee and any course fees. In-person, online and hybrid courses are available, and COVID-19 vaccinations are required for anyone coming on campus.
34. North Carolina
Tuition and registration fees are waived for residents 65 or older attending North Carolina community colleges. Senior citizens can take up to six credit hours per semester for free. Audit options may be available at other schools.
At the University of North Carolina Wilmington, for example, senior citizens may audit classes for free after getting the instructor’s permission and submitting an application. Lab, studio, performance, distance education, independent study, internship and special topic courses are excluded. Online courses are available for those who prefer them.
35. North Dakota
Programs vary by institution in North Dakota. At Bismarck State, for example, senior citizens 65 and older can audit one course tuition-free per semester on a space-available basis. They’re still responsible for other course fees. Some online courses are available.
36. Ohio
Ohio residents at least 60 years old may attend class at any state college for free. Senior-citizen students do not receive credit and can register only on a space-available basis. They are still responsible for special assessments, such as lab fees, that may apply.
Many Ohio state colleges offer online courses, as well as in-person and hybrid.
37. Oklahoma
Oklahoma state colleges and universities waive tuition and fees for senior citizens 65 and older who wish to audit classes on a space-available basis.
38. Oregon
Oregon State University allows senior citizens at least 65 years old to audit classes for free at a maximum of eight credit hours per semester.
The University of Oregon also waives fees for seniors 65 and older auditing classes on a space-available basis.
Online course options may be offered depending on availability.
39. Pennsylvania
Clarion University offers a tuition waiver for residents 62 and up to audit classes. At Bloomsburg University, you need to be only 60 to take tuition-free classes on a space-available basis.
There can be additional benefits at the community college level: Bucks County Community College, for example, waives for-credit course tuition for seniors 65 and up so long as they register after students who are paying full tuition. Many courses are offered online, though some in-person and hybrid options are available.
40. Rhode Island
Tuition waivers can be requested from citizens over 60 at the Community College of Rhode Island. Seats are granted when there is space available.
All degree-seeking senior students must fill out a FAFSA. They also have to submit a Senior Citizens Means Test to verify they have limited income.
Proof of COVID-19 vaccination is required to attend in-person classes. There are also online classes.
41. South Carolina
Residents 60 and above can attend classes at state schools on a credit or noncredit basis, pending space available, for free. The school must grant admission via its normal procedures.
Technology, lab and other fees are the responsibility of the student. Many South Carolina community colleges offer online courses for those interested.
42. South Dakota
Residents 65 and older can attend public universities in South Dakota at 55% of the normal cost of tuition for undergraduate or graduate in-person courses on a main university campus.
Interested adults should apply through the regular admissions system, and the school will automatically grant the discount upon admission. Student fees are not waived.
Contact your chosen university to see whether online courses are offered.
43. Tennessee
The University of Tennessee allows senior citizens to enroll in undergraduate or graduate courses for $7 per credit hour with a maximum fee of $70.
Students will still pay application and course fees. Senior citizens can choose between online courses and in-person ones.
44. Texas
A senior citizen age 65 or older can take up to six tuition-free credit hours at the University of Texas at Austin.
At the University of Texas at Dallas and Lone Star College, undergrad students 65 and older must maintain a 2.0 cumulative GPA to receive a tuition waiver for up to six credit hours per semester.
Check with each individual university to see which online and in-person classes are available for enrollment.
45. Utah
Utah residents age 62 and up may enroll tuition-free at a state institution, space permitting; a quarterly registration fee is required.
At the University of Utah, for example, seniors can audit most classes on a space-available basis and only have to pay a fee of $25 per semester, plus any special fees required. Call to see whether online classes are included.
46. Vermont
Vermonters over the age of 65 can audit one class per semester tuition-free on a space-available basis in the Vermont State College System. Students can take additional classes at a 50% discount of the tuition rate, either in person or online.
They’ll still have to pay administration and course fees for all classes.
47. Virginia
Under the amended terms of the Senior Citizens Higher Education Act of 1974, Virginia residents over 60 years old who earn a taxable income of less than $23,850 annually can audit up to three courses per term for free on a space-available basis at any public institution, either in person or online.
48. Washington
Institutions in Washington are required to partially or fully waive tuition fees for residents age 60 or older who are enrolled for credit on a space-available basis. Nominal fees may apply to students auditing courses.
Some schools limit senior citizens to a certain number of classes or credits; for example, Washington State University caps the waiver at six credits for the fall and spring semesters. Online programs are available.
49. West Virginia
Senior citizens 65 and older at West Virginia University seeking college credit must use the regular admissions form. Those wishing to be non-degree students pay just $5 to apply. WVU offers classes online or in person.
50. Wisconsin
Adults 60 and up may audit classes at the University of Wisconsin-Madison campus or at UW-Madison Online for free, where space is available.
51. Wyoming
At Laramie County Community College, senior citizens 60 and older pay only 20% of the resident tuition rate per credit hour, though they still need to pay any other course or online fees.
Northwest College offers adults 60 and older free tuition up to six credit hours per semester for on-site and online courses, as well as free entry to most college social, cultural and athletic events.
Another Continuing Education Option
More than 100 colleges and universities around the country offer another continuing education program for senior citizens: enrichment courses through the Osher Lifelong Learning Institutes (OLLI).
Prices vary depending upon the institution. Duke University, for example, has a $50 annual membership fee and then charges $50 to $175 per class. Senior citizens can choose to take classes online or in person.
OLLI classes don’t count toward a degree, but if you’re looking for personal development opportunities among older adults, these courses can provide opportunities that mix in the campus experience, too.
Contributor Catherine Hiles updated this post for 2023.
Many people think of large national banks when they think of banking. However, regional banks can often offer a more personalized and localized banking experience. They may also have lower interest rates and fees than larger banks.
In this article, we’ll examine the best regional banks in terms of customer service, fees, and interest rates. This list is a great place to start if you’re looking for a new place to do your banking or simply want to compare your current bank to others in your area.
Best Regional Banks in the West
Bank of the West
Bank of the West is a large regional bank based in San Francisco, with hundreds of locations nationwide. It offers standard deposit accounts, such as checking, savings, CDs, and money market accounts.
Checking accounts have varying terms and fees, some of which can be waived by signing up for paperless statements. The bank also has a low-interest Choice Interest Checking account and two savings accounts with fee waivers for maintaining a minimum balance.
First Interstate Bank
First Interstate Bank is the largest bank in Montana and 73rd in the US. Established in 1916, it has 313 locations.
Its headquarters are in Billings, but it has locations throughout the states of Idaho, Montana, Oregon, South Dakota, Washington and Wyoming.
Umpqua Bank
Umpqua Bank is the largest bank in Oregon and 75th in the US. Established in 1953, it has 219 locations, headquartered in Roseburg.
It offers a unique Go-To app that allows customers to text a banker for questions or advice. The bank also offers multiple checking accounts, money market accounts and CD terms, with a low deposit requirement to open a money market or savings account.
Union Bank
Union Bank is a full-service bank based in San Francisco, with over 350 branches in California, Washington and Oregon. It offers online, mobile, and telephone banking options in addition to traditional branch banking.
Products include checking, savings, money market, CDs, credit cards, mortgages, loans, insurance and investment services.
Best Regional Banks in the Southwest
BOK Financial
BOK Financial is the largest bank in Oklahoma and 55th in the US. Established in 1910, it has 118 locations and is headquartered in Tulsa. It offers a variety of financial products, including savings, checking, money market, CDs, IRAs, credit cards, and mortgages.
First National Bank Texas
First National Bank Texas (FNBT) was founded in 1901 in Killeen, Texas. Today, it serves customers at over 300 locations across Texas, New Mexico, and Arizona.
The bank offers a variety of personal banking products, including checking accounts, savings accounts, money market accounts, and CDs, and more.
Frost Bank
Frost Bank is based in San Antonio, Texas. Established in 1868, it has 171 locations and 1,700 ATMs throughout Texas.
The serves customers in most of the state’s larger metro areas. It offers a range of products including checking and savings accounts, loans, investing, insurance and wealth management services to help customers manage and grow their money.
MidFirst Bank
MidFirst Bank is the largest privately owned bank in the US. It operates 75 branches in 3 states, with most located in Oklahoma, Arizona, and Colorado. Its headquarters is in Oklahoma City.
MidFirst provides a range of banking options, including multiple types of checking accounts, and the possibility to waive monthly service fees.
Best Regional Banks in the Midwest
Arvest Bank
Arvest Bank is a regional bank based in Bentonville, Arkansas, with over 240 branches in Arkansas, Kansas, Oklahoma and Missouri. It offers checking accounts, savings accounts, money market accounts, and CDs, and its mobile banking app is highly rated in app stores. Accounts can be opened online, but only by residents of the four states the bank serves.
BMO Harris Bank
BMO Harris is the 8th largest bank in North America by assets, headquartered in Chicago and is a subsidiary of the Bank of Montreal. It has over 500 branches in Arizona, Florida, Illinois, Indiana, Kansas, Missouri, Minnesota, and Wisconsin.
Fifth Third Bank
Fifth Third Bank is based in Cincinnati, serving customers in 11 states with over 1,100 branches. It offers various checking and savings accounts, money market account and a wide range of CD terms.
The Fifth Third Momentum Checking account boasts no monthly service fee and provides fee-free access to over 50,000 ATMs across the country. The bank also has low deposit requirements and 24/7 access via its highly rated mobile app.
Huntington National Bank
Huntington National Bank is a full-service bank with over 1,100 branches in 12 states, primarily in the Midwest and Southern regions. It provides a range of products and services including banking, wealth management, and insurance.
The bank offers a free checking account, and 24-hour overdraft forgiveness which allows an extra day to make deposits to avoid overdraft and return fees, and other features.
Best Regional Banks in the Southeast
Cadence Bank
Cadence Bank, a regional giant based in Tupelo, stands tall as the largest bank in Mississippi and ranks 51st nationally. It has a network of 448 locations spread across six states: Alabama, Florida, Georgia, Mississippi, Tennessee, and Texas.
Cadence offers a comprehensive range of financial products, from checking and savings accounts to credit cards, lines of credit, and mortgages.
First Citizens Bank
First citizens Bank, founded in North Carolina in 1898, has a rich history of providing reliable financial services. Its offerings encompass a diverse array of products, such as checking, savings, CDs, credit cards, loans, mortgages, investments, and insurance.
With 586 branches in 22 states, the bank makes banking easy and accessible. It also offers free checking and savings account options with a low minimum deposit requirement.
SouthState Bank
SouthState Bank, the largest regional bank in Florida, was founded in 1992 in Winter Haven. With a presence in six states – Florida, Georgia, Alabama, Virginia, North Carolina, and South Carolina – the bank boasts a network of over 240 branches.
SouthState offers a wide range of banking and investment services to individuals and businesses alike.
Synovus Bank
Based in Columbus, Georgia, Synovus Bank operates 309 branches in five states – Alabama, Florida, Georgia, South Carolina, and Tennessee.
The bank provides a comprehensive range of financial services, including loans, deposit products, investment services, financial planning, and wealth management, empowering its customers to reach their financial goals.
Best Regional Banks in the Northeast
Fulton Bank
Fulton Bank, based in Lancaster, Pennsylvania, is a regional bank with a presence in 5 mid-Atlantic states – Delaware, Maryland, New Jersey, Pennsylvania, and Virginia. With over 250 branches, Fulton Bank offers an array of personal banking products, including checking, savings, money market accounts, and certificates of deposit.
M&T Bank
M&T Bank is a major regional bank headquartered in Buffalo, New York, serving customers in 13 states, with a strong presence in New York, Connecticut, Maryland, Pennsylvania, and New Jersey.
The bank offers a wide range of financial products, including checking and savings, loans, retirement accounts, credit and debit cards, and investment services. With M&T Bank’s basic checking account, there’s no monthly fee.
Valley National Bank
Valley National Bank was established in 1927 and is headquartered in Wayne, New Jersey. It boasts 200 convenient branches across several states, including New Jersey, New York, Florida, Alabama, California, and Illinois.
The bank offers a range of checking and savings accounts, including Rewards Checking and Interest Checking.
Webster Bank
Webster Bank, based in Stamford, Connecticut, operates 177 branches across Connecticut, Massachusetts, Rhode Island, and New York. It offers a comprehensive range of financial products, including checking, savings, and money market accounts, CDs, and lending products.
With 5 different checking accounts to choose from, including an Opportunity Checking account for those seeking second-chance banking, Webster Bank caters to a wide range of banking needs.
Big Regional Banks with Locations in Multiple Regions
Citizens Bank
Citizens Bank is based in Providence, Rhode Island and is the 15th largest bank in the US. It operates over 1,000 branches across 11 states in New England, Mid-Atlantic, and Midwest regions.
It offers various retail, small business and commercial banking products. The bank also has online-only savings accounts and CDs with competitive interest rates and no monthly fees.
KeyBank
Headquartered in Cleveland, Ohio, KeyBank operates over 1,000 full-service branches in 15 states, offering a range of banking products including personal checking, savings, money market, and CDs. The bank is committed to providing excellent customer service, with 24/7 phone support available.
Regions Bank
Regions Bank is the largest bank in Alabama, with its headquarters in Birmingham. Operating over 1,500 branches in 15 states across the South and Midwest, the bank offers 24/7 phone customer service.
In addition to traditional banking services, Regions Bank also provides convenient digital banking features, including mobile and online banking, account management, bill pay, and remote check deposit.
TD Bank
TD Bank is headquartered in Cherry Hill, New Jersey-based with a presence primarily along the East Coast in 15 states. The bank operates 1,200 branches and is the ninth-largest bank in the nation.
TD Bank offers a range of financial products including checking, savings, and money market accounts, certificates of deposits, and credit cards. Additionally, its physical locations offer extended hours to accommodate customer needs.
Truist
Truist Bank is based in Charlotte, North Carolina, with a presence in 17 states and the District of Columbia. With over 2,100 branches, the bank primarily serves customers in the Southern states but also has locations in Indiana, Maryland, New Jersey, Ohio, and Pennsylvania.
Truist offers a range of banking products including checking, savings, money market, CDs, credit cards, and more.
U.S. Bank
U.S. Bank it headquartered in Minneapolis, and it’s the fifth-largest bank by assets in the United States. Its services are primarily in the Western and Midwestern parts of the country with over 2,000 branches in 26 states.
U.S. Bank provides customers with a vast network of ATMs, including those in the MoneyPass network. They offer a comprehensive selection of products, such as deposit accounts and mortgages. Customers can choose to open accounts either in-person or through the bank’s online platform. Its mobile app is also highly rated.
Factors to Consider When Choosing a Regional Bank
When it comes to selecting a regional bank, there are several important factors to keep in mind to ensure you make the right choice for your financial needs. These include:
Location: Ensure the bank has branches and ATMs conveniently located near your home and workplace for easy access and transactions.
Fees: Compare fees such as monthly maintenance fees, overdraft fees, ATM fees, and others to make sure they are reasonable and in line with other regional banks.
Interest rates: Evaluate interest rates and annual percentage yields (APYs) for checking and savings accounts, as well as loans, to get the best deal possible.
Online and mobile banking: Assess the bank’s digital offerings such as online banking and mobile app capabilities to make sure they meet your needs and are user-friendly.
Customer service: Look into the bank’s customer service reputation by reading reviews and asking others. Choose a bank with a strong reputation for assisting customers with their financial needs.
Security: Verify that the bank has robust security measures in place to protect your personal and financial information.
Frequently Asked Questions
What are regional banks?
Regional banks, as per the Federal Reserve Board, are financial institutions with assets between $10 billion and $100 billion, putting them in between community banks and larger national or international banks. However, the definition may vary among different sources.
These banks serve a designated geographic region, usually within one state or a few states, and offer a variety of commercial banking services like checking accounts, savings, mortgage loans, and more.
How do regional banks differ from national banks?
National banks cater to a broad geographical area, spanning across several states and sometimes the entire country. Unlike national banks, regional banks concentrate more on meeting the requirements of their local communities. The scope of service for regional banks can greatly differ, with some serving small regions, while others offer services to larger territories.
What’s the difference between a regional bank and a community bank?
Regional banks are typically bigger and offer a wider range of services compared to community banks. They have multiple branches and ATMs across a state or region, and provide more advanced financial products.
In contrast, community banks are focused on serving the local community and are generally smaller with fewer branches and ATMs. They put a strong emphasis on personal banking services like checking and savings accounts, home loans, and consumer loans. Additionally, they have close ties to the community and often prioritize lending to small businesses and community organizations.
What are some benefits of using a regional bank?
Regional banks often provide a more personal touch and in-depth local knowledge. Additionally, they are connected to the community and offer more flexible lending options. Furthermore, their fees tend to be lower compared to bigger banks.
For those who prioritize low fees, online banks are another option to consider. These banks, also known as digital or online-only banks, have the lowest fees of all banking options, thanks to their lower overhead expenses. They pass the savings on to their customers.
Are there any downsides to using a regional bank?
Regional banks may have fewer branches and ATMs compared to big banks, which can be a disadvantage for some customers. Moreover, they may not offer as many types of accounts or financial products as large banks.
What should I look for when choosing a regional bank?
When choosing a regional bank, take into account elements like its reputation, monthly fees, and available accounts. Additionally, think about its proximity and if it provides online and mobile banking services.
Can I open an account with a regional bank if I don’t live in the region they serve?
It depends on the bank’s policies. Some regional banks may require that you live in the region they serve to open a bank account, while others may be more flexible.
How many regional banks are there in the U.S.?
Based on the Federal Reserve Board’s definition of a regional bank, of $10 billion to $100 billion in assets, there are around 120 regional banks in the U.S.
Since its inception in June 2017, Zelle’s instant payment service has exploded in popularity. It has established itself as one of the most widely used methods of money transfer in the United States.
Zelle, a digital payment network, is housed under the umbrella of Early Warning Services, LLC (EWS). EWS is a private financial services company jointly owned by some of the largest names in banking. These include Bank of America, Capital One, JPMorgan Chase, PNC Bank, Truist, U.S. Bank, and Wells Fargo.
How does Zelle work?
Zelle users can quickly send money to other registered Zelle users for free. Anyone can download the Zelle app. However, if your bank or credit union partners with Zelle, you can enroll through your bank’s mobile banking app or website.
To send money via Zelle, all you need is the recipient’s phone number or email address. Once you’ve confirmed the payment, they will receive a text message or email with a link to accept it.
There are currently more than 1,190 banks that use Zelle in the U.S. Below is the full list.
Full Listing of Banks That Use Zelle (A-Z)
Banks Starting With # or A
1st Bank of Sea Isle City
1st Century Bank
1st Colonial Community Bank
1st National Bank
1st Source Bank
1st State Bank
1st Trust Bank
Abington Bank
Academy Bank
ACCESSbank Omaha
ACNB Bank
Adirondack Bank
Advancial
Albany Bank & Trust
Alden State Bank
ALEC
Algonquin State Bank
Alliance Bank
Allied First Bank
Ally Bank
Alma Bank
Alpine Bank
Altamaha Bank and Trust
Amalgamated Bank of Chicago
Amalgamated Bank (NY)
Amarillo National Bank
Ambler Savings Bank
Amegy Bank
Amerant Bank
American Bank
American Bank and Trust
American Bank of Missouri
American Bank, N.A.
American Commercial Bank Trust
American Community Bank NY
American Community Bank Trust
American First National Bank
American Investors Bank
American National Bank & Trust
American National Bank of MN
American National Bank of TX
American Savings Bank
American State Bank and Trust
Ameris Bank
AMG National Trust Bank
Anchor Bank
Anderson Brothers Bank
Andrew Johnson Bank
Anstaff Bank
Apple Creek Banking Company
Arbor Bank
Arizona Bank & Trust
Armed Forces Bank
Armstrong Bank
Arthur State Bank
Arvest Bank
Aspire Banking
Associated Bank N.A.
Astra Bank
Atlantic Capital Bank
Atlantic Union Bank
Banks Starting With B
Banks Starting With C
Banks Starting With D
DL Evans Bank Mobile
Dacotah Bank
Dairy State Bank
Dallas Capital Bank, NA
Dean Bank
Dedham Savings
Desjardins Bank N.A
Dewitt Savings Bank
Dime Community Bank
Discover Bank
Dogwood State Bank
Dollar Bank, FSB
Dominion Bank
Drake Bank
Dubuque Bank & Trust
DuGood
Dundee Bank
Banks Starting With E
Eagle Bank
East West Bank
Eastern Bank
Eastern Colorado Bank
Eastern Michigan Bank
Eclipse Bank
Edmonton State Bank
Elements Financial
Embassy Bank For Lehigh Valley
Embassy National Bank
Empire State Bank
Endeavor Bank
Englewood Bank & Trust
Enterprise Bank
Enterprise Bank & Trust
Enterprise Bank & Trust Co.
Enterprise Bank of SC
Envision Bank
Ephrata National Bank
Equitable Bank
Erie Bank
ESSA BANK & TRUST
Eureka Savings Bank
Exchange Bank
Exchange Bank (CA)
Exchange Bank of NE Missouri
Excite Mobile Banking
Banks Starting With F
Banks Starting With G
Gate City Bank
Gateway First Bank
Generations Bank
Genesis Bank
Geo D. Warthen Bank
Georgia Banking Company
Georgia Community Bank
German American Bank
Gibsland Bank & Trust
Glens Falls National Bank
Glenwood State Bank
Golden Valley Bank
Gorham Savings Bank
Grand Ridge National Bank
GrandSouth Bank
Grandview Bank
Great Plains National Bank
Great Plains State Bank
Greater Community Bank
GreenLeaf Bank
Greenville Savings Bank
Grove Bank
Grove Bank & Trust
Grundy Bank
GTE Financial
Guadalupe Bank
Guaranty Bank
Guaranty Bank – MS
Guaranty Bank & Trust
Guaranty Bank (SFC)
Guardians
Gulf Capital Bank
Guthrie County State Bank
Banks Starting With H
Habib American Bank
Haddon Savings Bank
Hanmi Bank
Hanover Bank
Happy State Bank
Harrison County Bank
Hawthorn Bank
Hearthside Bank
Heartland Bank (NE)
Hendricks County Bank
Heritage Bank (KY)
Heritage Bank MN
Heritage Bank of Commerce
Heritage Bank of Schaumburg
Heritage Community Bank
Heritage Community CreditUnion
Heritage Southeast Bank
Hickory Point Bank and Trust
Highland Bank
Hillcrest Bank
Hilltop Bank
Hinsdale Bank and Trust
Holcomb Bank
Home Bank
Home Federal Bank of TN
Home National Bank
Home Savings Bank
Home State Bank
Home State Bank, IL
Home Trust & Savings Bank
Home-Federal Bank
Homeland Community Bank
HomeStreet Bank
HomeTrust Bank
Horizon Bank
Hoyne Savings Bank
Huntingdon Valley Bank
Huntington Bank
Huntington FSB
Huron Community Bank
Hyperion Bank
Banks Starting With I
Idaho Trust Bank
iGObanking
Illiana Financial
Illinois Bank & Trust
InBank
IncredibleBank
Independence Bank – Montana
Independent Bank
Infinity Bank
INSOUTH Bank
Integrity Bank for Business VA
Interamerican Bank
International Finance Bank
Intracoastal Bank
INTRUST Bank
Investar Bank
Investors Bank
Iowa State Bank
Iowa Trust and Savings Bank
Ireland Bank
Iron Workers Bank
Iroquois Federal Savings
Isabella Bank
Israel Discount Bank of NY
Ixonia Bank
Banks Starting With J
JBT
JCBank
JD Bank
Jefferson Bank
Jersey Shore State Bank
John Marshall Bank
Johnson Financial
Jones Bank
Jonesburg State Bank
Banks Starting With K
Kalamazoo County State Bank
Karnes County National Bank
Katahdin Trust Company
Kearny Bank
KEB Hana Bank USA
Kennebunk Savings Bank
KeyBank
KeySavings Bank
KeysBank
Keystone Bank
Kingston National Bank
Banks Starting With L
Ladysmith Federal
Lafayette State Bank
Lake City Bank
Lake Forest Bank
Lake Shore Savings
Lakeland Bank
Lakeside Bank
Lakeside Bank Chicago
Lamar National Bank
Landmark National Bank
Laona State Bank
LCFB
Lea County State Bank
Lead Bank
Leader Bank
Ledyard National Bank
Lee Bank
Lee Bank Mobile Banking
Legacy National Bank
Legend Bank
Level One Bank
Lexicon Bank
Liberty Bank
Liberty Bank for Savings
Liberty Capital Bank
Liberty National Bank
Liberty National Bank (OH)
Liberty Savings Bank
Libertyville Bank
LifeStore Bank
Lisle Savings Bank
Llano National Bank
Logansport Savings Bank
Lone Star National Bank
Lone Star State Bank of WT
Longview Bank
Longview Bank & Trust
Louisiana National Bank
Lowry State Bank
Loyal Trust Bank
Lubbock National Bank
Lumbee Guaranty Bank
Luther Burbank Savings
Luzerne Bank
Lyons National Bank
Banks Starting With M
M AND P BANK
M C Bank
M&F Bank
M&M Bank
M&T Bank
M1 Bank
MA Bank
Mabrey Bank
Machias Savings Bank
Magnifi Financial
Magnolia State Bank
Magyar Bank
Main Street Bank
Malvern National Bank
Manasquan Bank
Maple Bank
Marblehead Bank
Marion Center Bank
Marquette Bank
Marquette Savings Bank
Mars Bank Mobile Banking
Marthas Vineyard Bank
Maspeth Federal Savings
MCBank
McClain Bank
McHenry Savings Bank
McIntosh County Bank
MCNB Banks
Meade County Bank
Meadows Bank
Mediapolis Savings Bank
MemoryBank
Mercer County State Bank
Merchants & Farmers Bank Green
Merchants Bank
Merchants Bank of Indiana
Merchants National Bank
Meredith Village Savings Bank
Meridian Trust
Merrimack County Savings Bank
Metairie Bank
Metro City Bank
Metropolitan Bank
Metropolitan Commercial Bank
Mi BANK
Mid America Bank
Mid America Bank – Kansas
Mid Penn Bank
Middlefield Bank
Middletown Valley Bank
MidFirst Bank
Midland States Bank
MidSouth Bank
MIDWEST BANK
Midwest Bank – Minnesota
Midwest BankCentre
Midwest Bk
Midwest Community Bank
Midwest Heritage
MidWestOne Bank
Milford Federal
Millennium Bank
Minnesota Bank & Trust
MINNSTAR BANK
Minster Bank
MNB Bank
Monifi
Monona Bank
Monson Savings Bank
Montecito Bank & Trust
Montgomery Bank Mobile Banking
Monticello Banking Company
Morgan Stanley
Mound City Bank
Mountain Valley Bank
Mountain View Bank of Commerce
MPH Bank
Banks Starting With N
Nano Banc
Natbank, N.A.
National Bank of Arizona
National Bank of Blacksburg
National Bank of Indianapolis
National Capital Bank
NBC Oklahoma
NBT Bank
Nebraska State Bank & Trust Co
NebraskaLand Bank
Needham Bank
Neighborhood National Bank
Nokoosa Port Edwards Bank
Nevada State Bank
New Frontier Bank
New Mexico Bank & Trust
New Millennium Bank
New York Community Bank
Newburyport Bank
Newtown Savings Bank
NexTier Bank
NGNB
Nicolet National Bank
Noah Bank
NobleBank & Trust
North Dallas Bank & Trust Co
North Shore Bank, FSB
North Star Bank
North State Bank
Northbrook Bank
Northeast Bank
NorthEast Community Bank
Northern Trust
Northfield Bank
NorthSide Community Bank
Northumberland National Bank
Northwest Bank
Northwest Bank & Trust Co
Northwest Bank (PA)
Northwestern Bank
Northwestern Bank (IA)
Norway Savings Bank
Banks Starting With O
Oak Bank
Oakwood Bank
Oakworth Capital Bank
OCEAN Bank
Ocean Financial
Oconee Federal
Ohio State Bank
Old Dominion National Bank
Old Missouri Bank
Old National Bank
Old Plank Trail Bank
Old Point National Bank
Old Second Bank
OMB
One Florida Bank
OneWest Bank
Open Bank
Opportunity Bank of Montana
Orange Bank & Trust Company
Origin Bank
Osgood State Bank
Ozarks Federal Savings & Loan
Banks Starting With P
Pacific Alliance Bank
Pacific City Bank
Pacific Premier Bank
Pacific West Bank
Park Bank
Park National Bank
Park Ridge Community Bank
Parkway Bank
Partners Bank
Pathfinder Bank
Patterson State Bank
PCB Bank
Peapack-Gladstone Bank
Pegasus Bank
Penn Community Bank
Peoples Bank
Peoples Bank & Trust Co
Peoples Bank (IN & IL)
Peoples Bank (TX)
Peoples Bank (WA)
Peoples Bank IA
Peoples Bank of Alabama
Peoples Bank of East Tennessee
Peoples Bank of Altenburg
Peoples Bank of Graceville
Peoples Bank of Kankakee City
Peoples Bank of Kentucky
Peoples Bank of Paris Texas
Peoples National Bank
Peoples State Bank (WI)
Peoples State Bank Plainview
Peoples State Bank, Hville
Peoples Trust Company
PeoplesBank
Persons Banking Company
Peru Federal Savings Bank
Peshtigo National Bank
Philo Exchange Bank
Phoenixville Federal B&T
Piedmont Federal Savings Bank
Pinnacle Bank
Pinnacle Bank (CA)
Pinnacle Bank (GA)
Pinnacle Bank Texas
Pinnacle Bank Wyoming
Pinnacle Financial Partners
Pioneer Bank
Pioneer Bank (VA)
Pioneer Bank MN
Piscataqua Savings Bank
Pittsfield Cooperative Bank
PlainsCapital Bank
Planters Bank Mobile Banking
Platte Valley Bank NE
Platte Valley Bank WY
Plus International Bank
PNC Bank
Poca Valley Bank
Points West Community Bank
Ponce Bank
Port Washington State Bank
Prairie Community Bank
Preferred Bank
Premier Bank of the South
Premier Valley Bank
PremierBank Wisconsin
Primebank
PrimeSouth Bank
Primis
Progressive Bank
PromiseOne Bank
Prospect Bank
Prosperity Bank
Provident Bank
Provident Bank (CA)
Prudential Bank
PyraMax Bank
Banks Starting With Q
Quad City Bank & Trust
Quail Creek Bank
Quaint Oak Bank
Queenstown Bank
Quontic Bank
Banks Starting With R
R.Bank
Red River Bank
Redstone Bank
Redwood Capital Bank
Regions Bank
Reliabank
Reliance Bank
Reliance Bank (PA)
Renasant Bank
Republic Bank
Republic Bank of Chicago
Rhinebeck Bank
Richwood Bank
Riddell National Bank
Ridgewood Savings Bank
Rio Bank
Rising Bank
River Bank
River City Bank
River City Bank (KY)
Roanoke Rapids Savings Bank
Rochelle Bank
Rockland Savings Bank
Rockland Trust
Rockpoint Bank
Rocky Mountain Bank
Round Top State Bank
Royal Business Bank
RSI Bank
Banks Starting With S
S&T Bank
Sabine State Bank and Trust
Salem Five Cents Savings Bank
San Luis Valley Federal Bank
Sandhills Bank
Sandhills State Bank
Sandy Spring Bank
Sanibel Captiva Community Bank
Santa Cruz County Bank
Santander Bank
Saratoga National
Savings Bank of Walpole
Sawyer Savings Bank
Schaumburg Bank
Schuyler Savings Bank
Scottsdale Community Bank
Seacoast Bank
SECURITY BANK (OK)
Security Bank Laurel NE
Security Federal Bank
Security First Bank
Security National Bank IA
Security National Bank of SD
Security Savings Bank
Security State Bank – Wyoming
Seneca Savings
Settlers Bank
SFC Bank
Shore United Bank
Silicon Valley Bank
Simmons Bank
Skyline National Bank
SmartBank
SNB Bank, N.A.
Solutions Bank
Somerset Savings
South GA Banking Co
South Shore Bank
South Story Bank & Trust
SOUTHERN BANK
Southern Bank and Trust Co
Southern First Bank
Southern Independent Bank
Southern Michigan Bank and Trust
SouthPoint Bank
Southside Bank
SouthStar Bank
SouthState
Southwest Missouri Bank
Southwestern National Bank
SpiritBank
Spratt Savings Bank
Spring Bank
Spring Bank Brookfield WI
Springs Valley Bank & Trust Co
SSB Kenyon
St. Ansgar State Bank
St. Charles Bank
Starion Bank
State Bank Financial
State Bank of Cross Plains
State Bank of Southern Utah
State Bank of the Lakes
Stephenson National B&T
Stockman Bank of Montana
Suffolk Federal
Sullivan Bank
Summit Bank
Summit Community Bank
Sundance State Bank
Sunflower Bank, N.A.
Sunstate Bank
Surrey Bank
Susquehanna Community Bank
Susser Bank
Sutton Bank
Synovus Bank
Banks Starting With T
Tandem
TBK Bank, SSB
TC Federal Bank
TCBT
TD Bank N.A.
Terrabank
Territorial Savings Bank
Texas Bank and Trust Company
Texan Bank NA
Texas Capital Bank
Texas First Bank
Texas National Bank RGV
Texas National- Jacksonville
Texas Regional Bank
Texas Security Bank
The Andover Bank
The Bank
The Bank & Trust ssb
The Bank of Elk River
The Bank of Hemet
The Bank of Missouri
The Bank of New Glarus
The Bank of Princeton
The Bank of Southside VA
The Bank of Tampa
The Bank of Tescott
The Berkshire Bank
The Callaway Bank
The Citizens Bank
The Citizens Bank-Enterprise
The Citizens National bank KS
The Cornerstone Bank
The Dart Bank
The Dime Bank
The Farmers and Merchants Bank
The Farmers Bank
The Farmers Bank of Appomattox
The Federal Savings Bk
The Fidelity Bank (NC)
The First National Bank of LI
The Grant County Bank
The Gratz Bank FKA Linkbank
The Hamler State Bank
The Harbor Bank of Maryland
The Marblehead Bank
The Milford Bank
The MINT National Bank
The National Bank of Texas
The Neffs National Bank
The Peoples Bank
The Peoples Bank-Gambier OH
The Peoples State Bank
The Piedmont Bank
THE SAVINGS BANK
The State Bank
The State Bank Group
The Tri-County Bank
The Union Bank Co.
Think Bank
Third Coast Bank SSB
Thomaston Savings Bank
Thomasville National Bank
TIAA Bank
Timberline Bank
Touchstone Bank
Town and Country Bank
Town Bank
TowneBank
Tradition Capital Bank
Traditions Bank
Tri City National Bank
Troy Bank and Trust
Truist
Trustco Bank
TruStone Financial
TrustTexas Bank
Twin Valley Bank
Banks Starting With U
U.S. Century Bank
UBank
UBank TN
Ulster Savings Bank
Umpqua Bank
Unified Bank
Union Bank & Trust
Union Bank Monticello, AR
Union Bank
Union Savings Bank
Union State Bank
United Bank
United Bank & Trust
United Bank (AR)
United Bank of MI
United Business Bank
United Community Bank
United Community Bank, LA
United Cumberland Bank
United Security Bank
United Fidelity Bank
United Prairie Bank
United Southern Bank
Unity Bank
Unity Bank WI
Unity National Bank
Universal Bank
Universal City Studios
University Bank
Univest Bank and Trust Co.
URSB
U.S. Bank
US Metro Bank
USAA Federal Savings Bank
Banks Starting With V
Valley Bank
Valliance Bank
Varsity
Vectra Bank Colorado
Veritex Community Bank
Village Bank
Village Bank & Trust
Village Bank (VA)
Vinton County National Bank
Virginia National Bank
VisionBank
Banks Starting With W
WaFd Bank
Wallis Bank
Walpole Co-operative Bank
Washington Savings Bank
Washington Savings Bank Lowell
Waterford Bank, N.A.
Wauchula State Bank
Waumandee State Bank
Wayne Bank
Wayne Bank (PA & NY)
WCF Financial Bank
Webster Bank, former SNB sites
Wells Fargo Bank
WEOKIE
WesBanco Bank
West Alabama Bank
West Gate Bank
West Point Bank
West Shore Bank
West Texas National Bank
Western Bank
Western Commerce Bank
Western State Bank (KS)
Western States Bank
Westfield Bank
Westmoreland Federal Savings
WestStar Bank
Wheaton Bank
Willamette Valley Bank
Wilson Bank & Trust
William Penn Bank
Winchester Savings Bank
Windsor Federal Savings
Winnsboro State Bank (WSB)
Winter Hill Bank (WHB)
Winter Park National Bank
Wintrust Bank
Wisconsin Bank & Trust
Wood & Huston Bank
Woodford State Bank
Woodlands Bank
Woodlands National Bank
WoodTrust Bank
Woori America Bank
Wrentham Cooperative Bank
WSFS Bank
Wyoming Bank & Trust
Wyoming Community Bank
Banks Starting With Y
Yakima Federal Savings
Yampa Valley Bank
Banks Starting With Z
Zions Bank
Frequently Asked Questions
How do you receive money from Zelle?
If someone sends you money via Zelle, you’ll receive an email or text about their payment. Once you do, click on the link in the email or text. Then, download the Zelle app in the Apple App Store or Google Play if you haven’t already.
Click, “get started” and enter your email address or phone number, depending on how the funds were sent to you. Select “continue” and find your bank. As soon as you add your billing address on the next screen and click “continue,” you’ll be able to receive the transfer and any other transfers in the future.
What are the pros and cons of Zelle?
Just like any other digital payment provider, Zelle comes with pros and cons you should consider, including:
Pros
No fees to send or receive money
Available to customers at almost 10,000 U.S. banks and credit unions
Quick transfers, often within minutes
Chance to earn interest on money kept in checking and savings accounts connected to Zelle
Convenience of no contactless payments
Cons
Can’t cancel a payment after you send it if the recipient is already signed up with Zelle
Inability to link Zelle to a credit card
May require a smartphone
No chance to maintain a cash balance
Only for U.S. customers
Is there a fee for using Zelle?
Zelle doesn’t charge fees to send or receive money. But it’s a good idea to contact your bank or credit union to find out whether any additional fees may apply.
Is Zelle safe?
Since Zelle was created by banks and uses data encryption, it’s safe in most cases, especially when you compare it to alternative options like Venmo and Cash App. Despite this, Zelle doesn’t offer fraud protection for authorized payments.
This means if you use Zelle to make an online purchase, there’s not much you can do if you never receive the item. To avoid all safety concerns, only use Zelle to pay people you know and trust.
What’s the difference between Zelle, PayPal, and Venmo?
PayPal and Venmo are digital payment providers, which are similar to Zelle. However, unlike Zelle and Venmo, PayPal allows you to send and receive payments internationally. Many online retailers use PayPal as well.
Venmo is unique in that it’s a combination of a digital wallet and social media as you can comment with emojis when you send and receive payments. Zelle is not a digital wallet because you can only use it to transfer money from one account to another. While Zelle is generally free to use, PayPal and Venmo do charge fees in some situations.
Former Pentagon official Brent Sadler reacts to President Biden bringing his climate agenda to the U.S. military on ‘The Evening Edit.’
FIRST ON FOX – State treasurers and other top finance officials from 27 states on Monday urged President Biden to end what they said was his “unconscionable” policy of forcing people with good credit scores to subsidize mortgage loans of higher-risk borrowers, and warned Biden’s plan would be a “disaster.”
Biden’s plan was outlined just a few weeks ago by the Federal Housing Agency (FHFA) and is set to take effect today. The plan is aimed at helping lower-income borrowers afford their monthly mortgage payments – it would do so by forcing people with good credit scores to pay more each month for their mortgages, extra payments that would be credited to the loans of higher-risk borrowers.
The controversial policy has been attacked by both Republicans and Democrats, including President Obama’s former Federal Housing Administrator. On Monday, financial officers from 27 states weighed in and said it was clear the policy was a mistake even before it takes effect.
SENATE GOP SLAMS ‘PERVERSE’ BIDEN RULE FORCING PEOPLE WITH GOOD CREDIT TO SUBSIDIZE HIGH-RISK MORTGAGES
US President Joe Biden speaks about the economy and the final rule implementing the American Rescue Plans Special Financial Assistance program, protecting multiemployer pension plans, at Max S. Hayes High School in Cleveland, Ohio, July 6, 2022. (Pho ((Photo by SAUL LOEB/AFP via Getty Images) / Getty Images)
“It is already clear that this new policy will be a disaster,” they wrote in a letter led by Pennsylvania Treasurer Stacy Garrity that was sent to Biden and FHFA Director Sandra Thompson. “It amounts to a middle-class tax hike that will unfairly cost American families millions upon millions of dollars. And – at a time when the real estate market has already slowed considerably due to high interest rates – it will further depress home sales.”
“We urge you to take immediate action to end this unconscionable policy,” they wrote.
The state finance officers blasted the plan for turning the normal system of home buying incentives “upside down” by hurting people who make sound financial decisions.
BIDEN RULE WILL REDISTRIBUTE HIGH-RISK LOAN COSTS TO HOMEOWNERS WITH GOOD CREDIT
The policy was proposed by Federal Housing Finance Agency Director Sandra L. Thompson, and it is set to take effect May 1, 2023. (Photo By Tom Williams/CQ-Roll Call, Inc via Getty Images) (Getty Images)
“[T]the policy will take money away from the people who played by the rules and did things right – including millions of hardworking, middle-class Americans who built a good credit score and saved enough to make a strong down payment,” they wrote. “Incredibly, those who make down payments of 20 percent or more on their homes will pay the highest fees – one of the most backward incentives imaginable.”
It noted that the forced extra payments will be used to hand out “better mortgage rates to people with lower credit ratings. Others have said the plan would make it easier for people with shaky credit histories to afford more expensive mortgages, a move that could put more people at financial risk.
The state officials said that while expanding homeownership is a worthy goal, the forced subsidization of risky loans isn’t the way to do it.
BIDEN RULE WILL REDISTRIBUTE HIGH-RISK LOAN COSTS TO HOMEOWNERS WITH GOOD CREDIT
Biden has promoted a series of ‘equity’ initiatives during his two years in office. ((Photo by Anna Moneymaker/Getty Images) / Getty Images)
“[T]he right way to solve that problem is not to use the power of the federal government to penalize hardworking, middle-class American families by confiscating their money and using it as a handout,” they wrote. “The right way is to implement policies which will reduce inflation, cut energy costs and bring lower interest rates.”
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The letter was signed by treasurers, auditors, commissioners of revenue and other top officials from Alabama, Alaska, Arizona, Arkansas, Florida, Idaho, Indiana, Iowa, Kansas, Kentucky, Louisiana, Mississippi, Missouri, Nebraska, Nevada, North Carolina, North Dakota, Ohio, Oklahoma, Pennsylvania, South Carolina, South Dakota, Texas, Utah, West Virginia, Wisconsin and Wyoming.
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In today’s economy it can be difficult to get the best jobs without having a good education. Unfortunately, the cost of attending a four-year college is rising quickly, forcing many people to take on large chunks of debt or forgo college entirely. According to College Board, the average cost of attending a four-year public university has risen $5,000 in the past decade. For students looking for ways to budget, community college is a good option.
Trying to budget for college? Try SmartAsset’s student loan calculator.
In order to find the best community colleges in America, we analyzed data on 808 community colleges. We compared them across metrics like transfer rate, graduation rate, cost and student-to-teacher ratio. Check out our data and methodology section below to see where we got our data and how we put it together.
Key Findings
North Carolinaon top –North Carolina is home to five of the top 10 community colleges in the country. Community colleges in North Carolina tend to be affordable while doing a good job graduating their students.
Community college is a bargain – Depending on where you live, tuition and fees to attend an in-state community college can be two or three times less than tuition to attend an in-state four-year school.
This is SmartAsset’s fourth annual study of the nation’s best community colleges. Check out the 2016 version here.
1. Pamlico Community College – Grantsboro, North Carolina
Orginally founded in 1962 as an industrial education center, Pamlico has matured into the best community college in the country. According to our research, Pamlico has one of the highest graduation and transfer rates in the country with 84% of its students either graduating or transferring.
In-state tuition fees are also very affordable, costing only $2,347 annually. This compares favorably with other options in North Carolina. For example, the in-state tuition cost to attend University of North Carolina at Chapel Hill is $8,566.
2. Eastern Idaho Technical College – Idaho Falls, Idaho
In 2016, Eastern Idaho Technical College served over 13,000 students, many of whom studied part-time. The college also offers over 110 different degrees, making it a good place to study for a broad range of students.
The reason Eastern Idaho College ranked so high is because of its low student-to-faculty ratio. According to our data, there are about eight students for every faculty member, meaning each student should be able to receive adequate attention.
3. East Mississippi Community College – Scooba, Mississippi
East Mississippi cracks our top 10 once again. This community college scores well on all three of our metrics with its graduation and transfer rate being the standout statistic. Just under 75% of students who attend East Mississippi graduate or transfer to a four-year program.
East Mississippi Community College has also made efforts to modernize its classes to keep up with the economy. It recently became the first community college in Mississippi to offer an e-commerce technology program.
4. Washington State Community College – Marietta, Ohio
Washington State Community College in Marietta, Ohio finishes fourth thanks to a low student-to-faculty ratio. Its student-to-faculty ratio of 10 is almost half the national average of 19 (meaning there are fewer students per faculty member).
5. Pierce College at Puyallup – Puyallup, Washington
Pierce College at Puyallup ranks as the fifth-best community college in 2017. A large number of students (76%) either graduate or transfer to a four-year college. While Pierce College’s price tag ($3,691 for annual in-state tuition and fees) may seem steep relative to other community colleges in our top 10, it is still a good deal when looking at other local options. For example, in-state tuition to attend the University of Washington in Seattle is over $10,000.
A student concerned about taking on student debt could save over $12,000 on tuition by attending Pierce College for two years and then transferring to the University of Washington.
6. Piedmont Community College – Roxboro, North Carolina
Initially founded in 1970 as Person County Technical Institute, Piedmont Community College has evolved into one of the best community colleges in the country. Piedmont offers students the chance to get a good education for one of the lowest costs in our study. At only $2,419 for tuition and fees, Piedmont is much more affordable than other options in North Carolina.
For example, two years at Piedmont Community College costs roughly $5,000. In comparison, two years at University of North Carolina at Chapel Hill would run up a bill of around $17,000, just for tuition. For those struggling to afford student loan payments, it may make sense to refinance your student loans at a lower rate.
7. Mid-Plains Community College – North Platte, Nebraska
According to our data, Mid-Plains Community College is a great option for students who appreciate a lot of one-on-one time with teachers and faculty. Mid-Plains Community College has a faculty-to-student ratio of nine. That rate is tied for second-lowest in the top 10.
However one factor the school could improve is its graduation rate. According to our data, only had 57% of its students graduate or transfer to a four-year program.
8. College of the Albemarle – Elizabeth City, North Carolina
Located in northeastern North Carolina, College of the Albemarle is the oldest community college in North Carolina. It was established in 1960 and was the first institution in the North Carolina Community College System.
College of the Albemarle does an excellent job offering students an affordable education. Our data shows that annual in-state tuition and fees at College of the Albemarle cost only $2,211. That’s the lowest figure in our top 10. At the same time College of the Albemarle manages to graduate or transfer 62% of its students, a figure 22% higher than the national average.
9. Mayland Community College – Spruce Pine, North Carolina
Located in the Appalachian Mountains in western North Carolina, Mayland Community College is one of 58 institutions within the North Carolina Community College System. This college accepts students as young as 14 into its programs.
Mayland Community College ranked well in our study due to its affordability and high graduation and transfer rate. Our data shows that 64% of students either graduate or transfer. That graduation and transfer rate is 24% higher than the national average. In addition, Mayland should be affordable for most students as annual in-state tuition and fees run up a bill of around $2,400.
10. Tri-County Community College – Murphy, North Carolina
Closing out our list is another excellent community college within the North Carolina Community College System. Tri-County Community College serves the southwestern portion of North Carolina. Around 61% of students graduate or transfer to a four-year program. Tri-County Community College also offers students the chance to learn a wide range of skills from welding to accounting.
Data and Methodology
We made some changes between this year’s study and last year’s study. For starters, this year we expanded our study significantly. Last year we included 565 schools in the study. This year, we upped that figure to 808 schools. Last year we also used the ratio of graduates’ median starting salaries to the overall cost of attendance as a metric in our study; this year we did not.
In order to create our rankings of the best community colleges in America in 2017, we analyzed data on 808 different community colleges. We compared these colleges across the following three metrics:
Student-to-faculty ratio. This is the number of students for every faculty member. Data comes from the Integrated Postsecondary Education Data System and is for the 2015-2016 school year.
Graduation and transfer rate. This is the percent of students who either graduate from the community college or transfer to a four-year institution. Data comes from the Integrated Postsecondary Education Data System and is for the 2015-2016 school year.
Cost of tuition and fees. This is the cost of tuition and fees for in-state students completely two semesters of coursework. Data comes from the Integrated Postsecondary Education Data System and is for the 2015-2016 school year.
We weighted each metric equally. Then we gave each community college a score in each of the metrics based on how far above or below the mean they were. We used the sum of these numbers to create our final ranking. The community college with the highest cumulative score received a 100. The community college with the lowest score received a 0.
Tips on Managing Student Debt
Students are graduating from college with more than debt than ever. But it’s important to come up with a solid plan for tackling it. Ignoring student debt can lead to serious long-term problems, like a low credit score.
If you’re struggling with making student loan payments, you may be able to negotiate a lower monthly payment. The federal government offers income-based repayment plans, for example. Depending on your scenario an income-based repayment plan will mean you pay something like 15% of your discretionary income on student debt.
You may also want to consider refinancing your existing student loans. By refinancing you can take out a completely new loan with different terms. Ideally you would get a new loan with a lower interest rate. If you are struggling because monthly payments are too high, you can refinance to a loan with a longer term period. This will lower your monthly payments. Be cautious though, this will mean you are paying out in overall interest costs over the life of the loan.
Nick Wallace completed the data analysis for this study.
Derek Miller, CEPF®
Derek Miller is a graduate of the University of Edinburgh where he studied economics. He is passionate about using data to help people make better financial decisions. Derek is a Certified Educator in Personal Finance® (CEPF®) and a member of the Society for Advancing Business Editing and Writing. He is a data journalist whose expertise is in finding the stories within the numbers. Derek’s writing has been featured on Yahoo, AOL, and Huffington Post. He believes the biggest financial mistake people make is waiting too late to save for retirement and missing out on the wonders of compounding interest. Derek lives in Brooklyn.
Homepoint announced this morning that it has entered into a definitive agreement to sell the company’s wholesale origination unit to The Loan Store, Inc.
As a result, the Ann Arbor-based mortgage lender will no longer be a direct participant in the loan origination space.
However, Homepoint will continue to manage its mortgage servicing rights (MSR) portfolio, which it expects “to generate significant returns and cash flow over time.”
Prior to this move, Homepoint was the third largest wholesale mortgage lender in the country, behind just United Wholesale Mortgage and Rocket Mortgage TPO.
Homepoint Was a Top-10 Mortgage Lender
Homepoint saw explosive growth since its founding in 2015 via the acquisition of Maverick Funding.
It took them less than a decade to grow out a 2,000+ employee workforce and become a top-10 mortgage lender.
In 2021, the company originated an impressive $96 billion in home loans, landing them in ninth place overall.
However, due to difficult market conditions, namely a doubling in mortgage rates, profitability became an issue, leading to a series of layoffs nationwide.
Prior to this announcement, the company operated solely in the wholesale channel via mortgage brokers, meaning they will no longer have a place in the mortgage origination business.
In the past, they also operated a correspondent and retail division before shrinking operations.
Today, Homepoint made what they felt was the “best decision for our company to continue to deliver value to Home Point shareholders.”
But due to the sale, “its nine-year tenure as a direct participant in the originations market” will come to an end.
As noted, the company will continue to manage “its high-performing MSR portfolio.”
Homepoint is publicly-traded on the Nasdaq stock exchange under the symbol NASDAQ: HMPT.
At last glance, Homepoint was up about 21% on the news, though the stock is down about 33% over the past 12 months, and 82% over the past five years.
The Loan Store Looks to Grow Its Mortgage Footprint
Despite being founded in 2019, The Loan Store, Inc. is acquiring the third largest wholesale lender in the mortgage space.
Those other two lenders, UWM and Rocket Mortgage, happen to be the largest mortgage lenders across all origination channels.
This should allow the Tucson, Arizona-based company to grow exponentially, despite industry headwinds related to higher mortgage rates.
The Loan Store, Inc. currently operates solely via the wholesale channel, offering a variety of loan products via mortgage broker partners.
This includes conforming loans, jumbo loans, VA loans, and non-QM offerings like bank statement loans and DSCR (Debt Service Coverage Ratio) loans.
The company prides itself on “fast, simple home loans,” and has funded over $10 billion since inception.
It does not retain loan servicing for any of the mortgages it originates.
Prior to the acquisition, The Loan Store did business in about two dozen states.
Those include Alabama, Arizona, California, Colorado, Connecticut, Florida, Georgia, Idaho, Illinois, Indiana, Kansas, Kentucky, Louisiana, Maryland, Michigan, Minnesota, New Jersey, North Carolina, Ohio, Oregon, Pennsylvania, South Carolina, Tennessee, Texas, Utah, Washington, and Wisconsin.
The merger should allow them extend their reach nationwide and potentially be licensed in all 50 states.
The company expects the sale to close in the second quarter of 2023, subject to customary closing conditions.
It’s unclear if any employees will be impacted as a result of the agreement.