Best Banks & Credit Unions in Memphis, Tennessee
Banks and credit unions serving Memphis, Tennessee. Compare up to 0.40% APY, fees, minimums and membership rules, dated when we read them.
This page covers banks, credit unions, and local branches available to residents of Memphis, Tennessee. All rankings inherit from the Tennessee state directory. Every institution listed is licensed to serve Memphis residents and is either headquartered in Tennessee or operates branches in the metro.
Top options in Memphis
- Knoxville TVA Employees Credit Union: 3.75% APY. 12-month Certificate Account: $2,500.00 minimum balance; 90 days' dividends penalty for early withdrawal; the page offers 0.25% added to the certificate rate with at least $10,000 new money or with direct deposit; rates effective 09-06-2026. Read Sep 7, 2026 on tvacreditunion.com. Rates as of 2026-09-06 per the page.
- Navy Federal Credit Union: 3.70% APY. 12-month Standard Certificate: $1,000 minimum deposit ($1K tier); 'Rates as of Sep 07, 2026 ET' per the page. Read Sep 7, 2026 on navyfederal.org. Rates as of 2026-09-07 per the page.
- Ascend Federal Credit Union: 3.61% APY. 12-month Share Certificate: $500 minimum deposit; regular, business and/or IRA share certificate table; certificate rates effective September 2, 2026; a 9-month Special Share Certificate pays 4.15% APY on a $5,000 minimum. Read Sep 7, 2026 on ascend.org.
- Home Federal Bank of Tennessee: 3.60% APY. 12-month Certificate of Deposit: A minimum balance of $500.00 is required to open the account and to obtain the APY; 6-month early-withdrawal penalty; Effective Date 08/18/2026. Read Sep 7, 2026 on homefederalbanktn.com. Rates as of 2026-08-18 per the page.
- Redstone Federal Credit Union: 3.49% APY. 12-month Share Certificate: The minimum balance required to open the Share Certificate is $1000; compounding APY (non-compounding pays 3.45%); certificate table effective September 2, 2026 - September 8, 2026. Read Sep 7, 2026 on redfcu.org. Rates as of 2026-09-01 per the page.
- CommunityAmerica Credit Union: 3.40% APY. 12-month Share Certificate: Minimum deposit for a Share Certificate is $500; substantial penalty for early withdrawal; rates effective as of 09/06/2026. Read Sep 7, 2026 on communityamerica.com. Rates as of 2026-09-06 per the page.
Banks with more than one branch in Memphis
Each opens every one of that bank's offices in Memphis, with the address of each and what it holds.
- Regions Bank in Memphis: 20 branches
- First Horizon Bank in Memphis: 15 branches
Other Tennessee cities
See the full Tennessee banks directory for every institution we've verified in the state, plus the underlying methodology.