Finding the best small business banks for your Oregon business is all about partnering with a financial institution that understands your company’s unique needs. Whether you’re one of Portland’s innovative startups, Bend’s outdoor recreation companies or a Willamette Valley agricultural company, Oregon’s diverse businesses have equally diverse banking solutions available. We’ve evaluated dozens of banks and credit unions to bring you our top five picks for 2025, each offering distinctive advantages for small business owners across the Beaver State.

The 5 Best Small Business Banks in Oregon

These banks offer Oregon small businesses low-cost checking accounts, flexible loans, and advanced digital banking tools. Their exceptional customer service, competitive interest rates, and specialized small business support earned them a spot among our top five picks.

1. North One

North One is a digital-first bank designed for small businesses, startups, and freelancers. Through high-interest APY checking, zero-fee banking options, and a cash-back rewards program, North One allows business owners to turn everyday transactions into opportunities for profit. With no physical branches, North One provides flexibility through its mobile and online platforms, making it easy to manage finances anywhere. Backed by Bancorp and connected to the Green Dot ATM network, it ensures seamless cash deposits and withdrawals nationwide.

A key feature of North One is its high-interest APY checking account, which helps maximize earnings by generating interest on your balance. Unlike traditional accounts, where idle cash can sit without gaining value, North One ensures that your funds actively contribute to your business’s growth. The bank’s zero-fee structure further reduces costs, with no monthly maintenance fees on its Standard plan and low costs on additional services. North One’s cash-back rewards program also allows businesses to earn up to 4% back on qualifying purchases, turning routine expenses into profit-driving opportunities.

North One offers two checking plans:

  • The Standard plan is a no-cost option that covers essential banking needs, making it ideal for businesses focused on minimizing expenses. It includes free incoming domestic wire transfers, free digital bill pay, and 1.5% same-day ACH payments—giving you reliable, affordable access to essential payment tools without hidden fees.
  • The Plus plan, priced at $20 per month, is designed for businesses with higher transaction volumes or more complex needs. It offers free same-day ACH payments, discounted outgoing wires, and priority customer support for faster assistance.

All accounts come equipped with integrations to tools like QuickBooks and Xero, envelope budgeting, and multi-user permissions. North One’s focus on functionality and profit makes it one of the best banks for small businesses in Oregon.

2. WaFd Bank

WaFd Bank, headquartered in Oregon, operates 36 branches statewide, from Hillsboro to Cave Junction and Lakeview to Hood River. Known as Oregon’s “Best Business Bank,” WaFd supports local businesses with online and mobile banking, including bill payments, mobile deposits, and remote deposit capture.

Their business checking options require a $100 minimum opening deposit:

  • Free Business Checking suits small businesses with minimal activity.
  • Business Interest Checking earns interest on balances over $1,000.
  • Business Analyzed Checking offers customizable features for higher transaction volumes, with fees offset by account balances.

WaFd also provides small business credit cards with rewards, cash back, and perks like expense management and roadside assistance. Their savings products include Business Savings, Business Money Market, and Business Premium Money Market accounts, each with varying requirements. For long-term savings, WaFd offers CDs with flexible terms and a $1,000 minimum deposit.

Treasury management services include WAFD Treasury Express for small businesses and WAFD Treasury Prime for larger clients. These platforms enable businesses to manage accounts, pay bills, transfer funds, and access advanced reporting tools. Added security options like Positive Pay and sweep accounts help prevent fraud and optimize cash flow.

WaFd’s services come with a few restrictions. Certain industries, such as gambling and marijuana-related businesses, may not qualify for business accounts. Monthly fees can apply, especially for savings and checking accounts, impacting businesses with low balances.

With robust offerings, digital tools, and a strong local presence, WaFd Bank is a valuable partner for Oregon’s small businesses.

3. Summit Bank

Summit Bank, headquartered in Eugene, Oregon, is a well-regarded, community-focused bank specializing in business banking. Founded in 2004, it is the only independent community bank in Eugene and offers banking services tailored to local businesses and professionals. Summit Bank operates with five branches across Eugene and Springfield, the Portland Metro area and Central Oregon. 

In terms of business accounts, Summit Bank offers a variety of solutions designed to meet the needs of different business types. They provide standard business checking accounts, savings accounts and specialized services for industries such as healthcare, manufacturing, professional services, nonprofits and community associations. 

One of the bank’s standout features is its Small Business Administration (SBA) financing, where it holds the position of being Oregon’s number one community bank lender for SBA loans. This can be particularly valuable for businesses looking for flexible loan options.

Summit Bank also offers services like Retail Lockbox, which helps streamline receivables and reduces errors or fraud. Plus, the bank’s Positive Pay service enhances fraud protection by allowing businesses to review and approve suspicious checks before they are processed. Summit Bank’s Business Online Banking platform also supports varying functions, including ACH payments, check deposits via remote capture and detailed transaction approval—all designed with security in mind. 

However, there are a few potential drawbacks to consider. First, you’ll need to contact the bank to get specific details on pricing and fees. Second, as a community bank, it may not offer the same level of nationwide convenience as larger banks. There are fewer ATMs available and limited branch access outside of Oregon. If these drawbacks aren’t dealbreakers for you, Summit Bank’s strong focus on local businesses and personalized service makes it a valuable resource for Oregon-based companies.

4. Oregon State Credit Union

If you prefer a credit union for business banking, Oregon State Credit Union offers reliable and straightforward financial services. Based in Corvallis, Oregon, this member-owned institution was established in 1954. It operates 17 branches across western Oregon and offers access to CO-OP’s surcharge-free ATMs across North America.

Their Free Business Checking account is ideal for businesses with lower transaction volumes. It has no monthly maintenance fees and includes 100 checks deposited or cleared per month at no charge. Online banking, bill pay, and mobile banking are free, with $3,000 in monthly cash deposits included. The account requires a $25 minimum deposit and no minimum balance to maintain.

The Business Basic Savings account offers competitive interest rates and no service fees if you maintain a $250 balance or another account. It also includes free ATM access and is federally insured by the NCUA.

Oregon State Credit Union provides various loans and credit options, including business vehicle loans, equipment loans, and commercial real estate loans. Their Business Visa credit card offers a low variable interest rate, no fees for cash advances or balance transfers, and a $50,000 credit limit. Employee cards with custom limits are also available.

Basic business online banking is free, with optional features like ACH origination and remote deposit capture for a small fee. Some services, such as enhanced fraud protection or multi-account access, may involve extra costs. The $3,000 monthly cash deposit limit may restrict businesses dealing with large cash volumes.

Overall, Oregon State Credit Union provides competitive accounts, loans, and online tools, making it a strong option for new or small businesses.

5. Umpqua Bank

If you’re seeking a regional bank with local ties, Umpqua Bank could be the right fit for you. Founded in 1953, Umpqua operates 107 branches in Oregon, with additional locations in Washington, California, Idaho, Arizona, and Utah.

Umpqua offers four business checking accounts:

  • Community Business Checking is ideal for smaller businesses with minimal balance requirements.
  • Marketplace Business Checking serves growing businesses needing more features and flexibility.
  • Premier Business Checking focuses on cash and check processing with fraud prevention tools like reverse positive pay.
  • Analyzed Business Checking is designed for businesses with high transaction volumes and offers fee reductions based on activity.

Umpqua also offers savings options:

  • Community Business Savings charges a $3 monthly fee, waived with a $200 daily balance or regular transfers.
  • The Main Street Money Market account has a $10 fee, waived with a $2,500 daily balance.
  • For larger balances, the Marketplace Money Market waives its $15 fee with a $25,000 daily balance or $50,000 across accounts.

Umpqua’s merchant services help streamline payments. FastAccess Funding ensures quick payment processing, often within hours. Mobile card scanners come with transparent, fee-free pricing. Payroll services, powered by Paychex, offer seamless integration and a $200 credit for new users. The Deluxe Payment Exchange lets businesses create and send digital checks.

For financing, Umpqua provides SBA loans, equipment financing, and real estate or vehicle loans. It offers four business credit cards, including cashback and rewards options. Nonprofits can access the no-personal-guarantee Visa Community Card.

Finally, Umpqua’s online and mobile tools help manage cash flow, pay bills, and deposit checks with custom alerts. It’s a strong option for growing businesses in the Pacific Northwest seeking in-person banking and comprehensive services.

Your Guide to Small Business Banking in the Beaver State

Whatever your Oregon small business may be, there’s a banking solution to fit your needs. North One’s digital-first approach offers modern convenience for tech-savvy entrepreneurs, while WaFd Bank and Summit Bank provide the personal touch of local expertise. Oregon State Credit Union delivers member-focused services ideal for smaller businesses, and Umpqua Bank combines regional reach with comprehensive business tools. 

When you’re looking for the best small business banks in Oregon, be sure to think about your specific requirements—from transaction volumes and ATM access to lending needs and in-person service preferences—and choose an institution that fits as many of those requirements as possible. It’s the best way to choose a banking partner that will grow right along with you.