Zions Bank Overview: History, Accounts, and Services Explained

Zions Bank grew through various acquisitions since its founding in 1873. In 1957, Zion’s merged with Utah Savings & Trust Company and First National Bank of Salt Lake City to form Zions First National Bank. In Utah and Idaho, the company operates under the main name Zions Bank.

In the early 1960s, Zions Bank entered a new phase of growth when the LDS Church decided to sell its controlling interest to Keystone Insurance and Investment Company, a local investment group. This shift in ownership moved the bank away from church control and opened the door to broader expansion strategies.

Following the transition, Keystone rebranded as Zions Bancorporation and, by 1966, launched a public stock offering, securing funding that enabled it to increase its branch network and pursue acquisitions. This period marked a major step in Zions Bank’s evolution from a regional, church-affiliated institution into a publicly traded bank with a growing presence across the western United States.

The company operates in other states under names such as California Bank & Trust, Amegy Bank (Texas), National Bank of Arizona, Nevada State Bank, Vectra Bank (Colorado and New Mexico), and The Commerce Bank (Washington and Oregon). Before 2015, all these banks operated independently but were consolidated under a single company, although they maintain different names.

Checking Accounts

Zions Bank provides a wide range of financial products and services for personal and business customers, including:

Anytime Checking

A basic account that provides access to standard checking account tools and features, with no paper statement fees when you enroll in electronic statements.

• Monthly fee: $0
• Initial deposit: $50
• Interest: Does not earn interest

Gold Account

This account allows you to earn interest on your checking account as well as your savings, money market, and certificates of deposit (CDs). It also offers ATM fee waivers and no-fee overdraft transfers.

• Monthly fee: $15
• Monthly fee waived with a daily balance of $2,500 or combined balances across all accounts exceeding $25,000
• Initial deposit: $50
• Interest: Earns interest

Military Advantage Checking

An account designed to support members of the military, including ATM fee waivers and online and mobile banking tools.

• Monthly fee: $0
• Initial deposit: $50
• Interest: Does not earn interest

OnBudget Banking

An option that features a predictable monthly fee and no overdraft fees. It is a non-checking account with a debit card for payments and easy balance tracking.

• Monthly fee: $5
• Initial deposit: $25
• Interest: Does not earn interest

Common features across all accounts include:

• Visa debit card
• Digital banking with bill pay
• Overdraft protection
• Paperless statements

Savings Accounts

zionsbank.com | Savings

Savings Account

A standard savings account with a low minimum balance requirement, designed for everyday saving.

• Monthly fee: $3 (waived with a $200 daily balance or $25 automatic transfer from linked accounts)
• Initial deposit: $50
• Interest: Earns interest

Young Savers Account

An account designed for children and teenagers, with no minimum balance requirement or monthly fee, making it easy to start saving early.

• Monthly fee: $0
• Initial deposit: $5
• Interest: Earns interest

Money Market Account (MMA)

A savings account that offers competitive interest rates, suitable for customers looking to maximize their savings.

• Monthly fee: $0
• Initial deposit: $500
• Interest: Earns interest

IRA Money Market Account

A retirement-focused savings account that combines the benefits of a money market account with the tax advantages of an IRA.

• Monthly fee: $0
• Initial deposit: $100
• Interest: Earns interest

Certificates of Deposit (CD)

A CD is a time-based savings account that offers a fixed interest rate for a set term in exchange for keeping funds deposited until maturity.

• Monthly fee: $0
• Initial deposit: $1,000
• Interest: Earns interest

Credit Cards

zionsbank.com | Credit Cards

Agility Cash Credit Card

• Annual fee: $0
• Sign-up bonus: Earn up to $200, earning double points on purchases during the first year
• Cash back: 1.5% on all purchases, with the option to redeem cash monthly, quarterly, or when certain thresholds are reached

Vivid Rewards Credit Card

• Annual fee: $0
• Rewards: Earn points on every purchase, with a bonus of up to 30,000 points during the first 12 months
• Points structure: Earn 3 points per $1 spent on restaurants, entertainment, gas, transportation, and streaming services; 1 point per $1 on all other purchases

Clarity Credit Card

• Annual fee: $0
• Interest rate: One of the lowest available, with no additional fees such as late payment or foreign transaction fees
• Introductory rate: 0% APR for 6 months on purchases and balance transfers
• Balance transfer offer: 0% APR for 15 months on balance transfers made within the first 60 days

Premier Credit Card

• Annual fee: $0 for the first year, $95 after the first year
• Rewards: Up to 2.5X points on travel spending; 1.5X points on all other purchases
• Sign-up bonus: $150 cash back or 15,000 points when spending $4,000 in the first 90 days

Elite Credit Card

• Annual fee: $195
• Rewards: Up to 3X points on travel and restaurant spending
• Sign-up bonus: $300 cash back or 30,000 points when spending $5,000 in the first 90 days

Reserve Credit Card

• Annual fee: $450 plus $50 for each additional user
• Travel benefits: Includes Priority Pass airport lounge access and a $250 annual travel credit
• Sign-up bonus: $500 cash back or 50,000 points when spending $5,000 in the first 90 days

Launch Secured Card

• Purpose: Designed to help build or rebuild credit history
• Annual fee: $25

Personal Loans

Personal Secured Loans

• Description: These loans use your Certificate of Deposit (CD) or Savings Account as collateral, allowing you to borrow between $1,000 and $250,000 or up to the amount you have deposited.
• Terms: Fixed interest rates with variable terms depending on the collateral.

Personal Unsecured Loans

• Description: These loans do not require collateral and range from a minimum of $2,500 to a maximum of $100,000.
• Terms: Fixed interest rates with a variety of term options.

Unsecured Lines of Credit

• Description: These lines of credit allow you to access funds simply by writing a check or making online transactions.
• Additional benefit: Receive a 0.25% discount when using automatic payment from your Zions Bank deposit account.

Mortgages

Fixed-Rate Mortgage

• Description: Offers a constant interest rate for the life of the loan, making budgeting easier and more predictable.

Adjustable-Rate Mortgages (ARMs)

• Description: Allow you to qualify for a higher loan amount with a fixed interest rate during the initial years before adjusting.

Construction Loans

• Description: Provide a single closing for both the construction loan and traditional mortgage, simplifying the process.

FHA Mortgages

• Description: Allow for a lower down payment and are designed to help low- to moderate-income homebuyers.

Jumbo Loans

• Description: Designed for larger loan amounts, helping you acquire your dream home.

VA Mortgages

• Description: Available to veterans and may allow a 0% down payment.

First-Time Homebuyer Mortgages

• Description: Offer specific benefits for qualified buyers based on income or property location.

Mortgage Refinancing

• Description: Can lower your interest rate, shorten your loan term, and also allow you to access additional cash.

Home Equity Line of Credit (HELOC)

• Description: Offers competitive rates and lets you access the equity built in your home for a variety of purposes.

Home Equity Loan

• Description: Allows you to borrow against the equity in your home with a fixed amount and fixed monthly payments.

Conclusion

Zions Bank has a long history in Utah and the western United States, originating as a church-affiliated bank and later transitioning to public ownership after the LDS Church sold its majority stake to Keystone Insurance and Investment Company. The bank grew through mergers, acquisitions, and expansion into other states, operating under several local brand names.

It provides a wide range of financial products, including checking and savings accounts, credit cards, personal loans, and mortgages, as well as online and mobile banking services. While its size and product offerings have increased over time, Zions Bank continues to balance regional operations with broader corporate strategies, reflecting both its local roots and its presence in multiple markets.