Banking and financial services in Maryland: State-chartered banks available. Major credit unions present. Popular mobile banking apps. Diverse investment firms. Competitive mortgage rates. Business-friendly financial environment. Financial literacy programs. Wealth management services. Accessible ATMs statewide. Local and national bank options.
State-chartered banks available.
In Maryland, there are several state-chartered banks, including the Bank of Glen Burnie, Bank of Ocean City, BayVanguard Bank, Calvin B. Taylor Banking Company, and many others, each serving various regions with a range of financial services such as deposits, loans, and other banking needs. For a comprehensive overview of these institutions, you can visit the Maryland Department of Labor website, where detailed information and resources are readily available.
Major credit unions present.
In Maryland, there are numerous credit unions, including major ones like First Financial of MD FCU, MECU of Baltimore Inc, SECU of Maryland, and Securityplus FCU, each offering a wide array of financial services. These services include checking and savings accounts, auto loans, and mortgage loans available across various cities and counties. To explore the diverse offerings and find a credit union that suits your needs, you can visit the Credit Unions in Maryland page. These institutions are crafted to provide financial solutions that cater to the unique requirements of their members, ensuring financial stability and growth within the community.
Popular mobile banking apps.
Shore United Bank's mobile app offers a comprehensive suite of services that are designed to cater to your financial needs directly from your smartphone. With features such as mobile check deposit, bill pay, fund transfers, and Zelle for person-to-person payments, the app ensures that all your banking necessities are just a tap away. Additionally, it provides tools for budgeting and tracking spending, enabling you to manage your finances effectively. To explore these capabilities further, you can visit the official Shore United Bank page. Similarly, the SECU mobile banking app is equipped with functionalities to manage accounts, transfer funds, pay bills, and deposit checks. This app also offers the convenience of person-to-person payments, access to credit card information, financial management tools, and secure login options, making it a reliable choice for modern banking.
Diverse investment firms.
In Maryland, diverse investment firms such as Brown Capital Management, an African American-owned firm based in Baltimore, focus on international small company investments. Other notable firms, like Middleton Advisory located in Bethesda, offer fee-only investment advice alongside a diverse range of services. For more detailed information on these firms and others, you can visit the Knight Foundation, which provides extensive insights into women and minority-owned managers. These firms represent a growing commitment to diversity and inclusion within the financial sector.
Competitive mortgage rates.
In Maryland, as of December 2024, the average APR for a 30-year fixed-rate mortgage is 6.43%, which is lower than the national average of 6.83%. Mortgage rates vary based on credit score, loan type, and other factors, with programs like the Maryland Mortgage Program Flex and 1st Time Advantage Loans offering competitive rates and down payment assistance. For more information on these programs and to compare current rates, visit the MoneyGeek website which provides insightful resources for potential homebuyers in Maryland.
Business-friendly financial environment.
Maryland offers various financial incentives and programs to create a business-friendly environment, including loans, grants, tax credits, and investments, particularly through initiatives like Advantage Maryland, which supports economic development and job creation across the state.
Financial literacy programs.
Financial literacy is a crucial skill for individuals of all ages, and several initiatives in Maryland are dedicated to enhancing this expertise. The Maryland Coalition for Financial Literacy, backed by the Maryland Bankers Association, focuses on incorporating personal finance courses into high school curricula and offers valuable resources for both adults and students throughout the state. Complementing these efforts, the Maryland CASH Academy delivers free online financial education classes, covering essential topics such as budgeting, credit score improvement, debt reduction, and retirement planning, in collaboration with nonprofits, banks, and financial experts. Additionally, the University of Maryland provides diverse financial literacy resources like iGrad and the "Make $ense of Your Money" workshop series to aid students and recent graduates in managing their finances effectively.
Wealth management services.
In the vibrant community of Bethesda, Maryland, several organizations stand out in offering expert wealth management services tailored to the unique needs of individuals and businesses. Among these is Mariner Wealth Advisors, which provides a comprehensive suite of services including investment management, estate planning, and personal insurance solutions. Similarly, Sullivan Wealth Management emphasizes understanding clients' financial journeys with tailored services like retirement planning and philanthropic legacies. Additionally, Sullivan & Company, CPAs, focuses on holistic solutions for high net worth individuals, ensuring that succession, estate planning, and investment management are aligned with personal and family objectives. Not to be overlooked, SFG Wealth Management excels in creating personalized plans with a commitment to transparency and education, aiming to address the distinct goals of its clients. Each of these organizations contributes to the robust financial expertise available in Bethesda, guiding clients towards achieving and preserving their wealth with personalized, thoughtful strategies.
Accessible ATMs statewide.
In Maryland, members can access a vast network of ATMs, including over 10,000 surcharge-free ATMs through Signal Financial's partnership with MoneyPass, and additional ATMs at various branch locations.
Local and national bank options.
In Maryland, banking options include both local and national banks, with federally chartered banks regulated by the U.S. Office of the Comptroller of the Currency (OCC) and state-chartered banks regulated by the Maryland Commissioner of Financial Regulation, alongside federal oversight from the Federal Reserve or FDIC. National banks such as Bank of America, which has a strong presence in Maryland with over 100 branches, offer a wide range of banking, lending, and investment products, while local banks and credit unions provide community-focused services and are overseen by state and federal agencies.