Five New York credit unions have been recognized as part of Forbes’ annual list of America’s best credit unions in each state.

With more than 5,200 credit unions serving more than 120 million members across the United States and with $1.5 trillion in assets, Forbes recognized that members-only credit unions “typically have lower fees and offer better interest rates than traditional banks, and the nonprofit model also puts the customer first, resulting in higher levels of satisfaction.”

Forbes partnered with market research firm Statista to produce its third annual list of the best credit unions in each state, surveying nearly 25,000 members. Credit unions were scored on overall recommendations and satisfaction, as well as five other categories — trust, terms and conditions, branch services, digital services and financial advice, with just 3.5% making the list, according to Forbes.

New York credit unions named to the Forbes list include:

ESL Federal Credit Union
Headquarters: Rochester
CEO: Faheem Masood
Employees: More than 700

The Summit Federal Credit Union
Headquarters: Rochester
CEO: Laurie Baker
Employees: 208

Jovia Financial Credit Union
Headquarters: Westbury
CEO: John Deieso
Employees: 405

Empower Federal Credit Union
Headquarters: Syracuse
CEO: John Wakefield
Employees: 524

AmeriCU
Headquarters: Rome
CEO: Ronald Belle
Employees: 317