PROVIDENCE – Navigant Credit Union and People’s Credit Union were the only financial institutions that conduct business in Rhode Island to earn a five-star rating from Newsweek in its 2025 list of the nation’s best regional banks and credit unions.
The list of 500 regional banks and 500 regional credit unions nationwide included three other credit unions based in Rhode Island that earned four and four-and-a-half stars, and four regional banks that have branch locations in the state that also earned four and four-and-a-half stars.
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The list, which started last year, is researched and published by Newsweek in partnership with Plant-A Insights Group, a data intelligence firm based in Brooklyn, N.Y. It was compiled following a comprehensive review of more than 9,000 financial institutions. More than 71,000 customers were surveyed, and more than 130 million online reviews were factored in, according to Newsweek.
Among the credit unions, Navigant, based in Smithfield and the state’s largest credit union, and People’s, based in Middletown, each received the highest rating – five stars – while Blackstone River Credit Union in Woonsocket and Wave Federal Credit Union in Warwick earned four-and-a-half stars each. Ocean State Credit Union in Coventry received four stars.
Among regional banks, Boston-based Berkshire Bank – which has four locations in Rhode Island – earned four-and-a-half stars, along with Waterbury, Conn.-based Webster Bank, which has seven offices in Rhode Island.
Fall River Five Cents Savings Bank, or BankFive, received four stars, as did Boston-based Santander Bank. BankFive, based in Fall River, has one location in Rhode Island, and Santander has 20.
“Regional banks and credit unions are the financial backbone of communities nationwide,” said Nancy Cooper, Newsweek global editor-in-chief. “They serve as vital engines at the local level as they support small businesses, fund projects and ensure easy access to essential banking services. With intimate knowledge of local economies, these banks often form strong bonds with customers, enabling them to better meet their needs.”
In nearby Massachusetts, Fall River Municipal Credit Union earned five stars, First New Bedford Credit Union, Citizens’ Credit Union in New Bedford, and Mechanics Cooperative Bank in Taunton earned four-and-a-half stars. Bluestone Bank in Raynham received four stars.
