Forbes on Friday released its 2019 lists for America’s Best Banks in Each State and America’s Best Credit Unions in Each State, with two Baton Rouge-based financial institutions—b1BANK and La Capitol Federal Credit Union, respectively—each holding the No. 1 spots in Louisiana.
Based on a survey of nearly 25,000 U.S. customers, financial institutions were scored on overall recommendations and satisfaction, as well as five subdimensions: trust, terms and conditions, branch services, digital services, and financial advice. Of the 5,117 banks in America, just 2.6% made Forbes’ list; meanwhile, of the 5,326 credit unions nationwide, just 3.5% made its list.
Opening in 2006 as Business First Bank, b1BANK (including Pedestal Bank, which the former acquired earlier this year) now has 367 employees. It’s run by CEO Jude Melville, who was one of Business Report’s Forty Under 40 honorees in 2005.
Coming in at No. 2 in the state is Capital One, which is headquartered in Mclean, Virginia, and employs some 25,000 workers. Hancock Whitney, which is based in Gulfport, Mississippi, and employs more than 4,000 people, ranks third on the list.
Meanwhile, La Capitol Federal Credit Union topped Forbes’ list of the best credit unions in Louisiana. Also based in Baton Rouge, the nearly 60-year old credit union is currently run by CEO Michael Hooper and employs 177 people.
It’s followed by Ouachita Valley Federal Credit Union of West Monroe and Barksdale Federal Credit Union of Bossier City.