3 star ratingAverage User Rating:
3 star rating based on 2 reviews.

Astoria Federal Savings

Astoria Federal Savings Locations
37-16 30th Avenue
Long Island City, NY 11103
1-800-278-6742
www.astoriafederal.com



Astoria Federal Savings is headquartered in Long Island City and is the 7th largest bank in the state of New York. It is also the 68th largest bank in the nation. It was established in 1888 and as of March of 2012, it had grown to 1,535 employees at 86 locations. Astoria Federal Savings has a 3-star health rating.

Astoria Federal Savings Routing Number: 221471861

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$125 Checking Account Bonus At Astoria Bank In New York (Forum) - 10/13/2010

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Astoria Federal Savings' Competitive 30-Month CD - Available Nationwide - 1/29/2010

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4.05% 12-Month CD at Astoria Federal Savings in New York - 12/10/2008

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5.40% 9-Month CD at a New York Bank (Astoria Federal Savings) - 6/15/2007

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See Rates for: Checking | Savings | Money Market | CD | IRA

Astoria Federal Savings Checking Account Rates

ApyMinMaxProduct
0.30%$25k-Interest on Lawyer Account (IOLA)
0.10%$100-Gold Checking
0.10%$100-Ultra Checking

Astoria Federal Savings Savings Account Rates

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0.25%$500-Statement Savings
0.25%$500-Passbook Savings

Astoria Federal Savings Money Market Rates

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0.75%$50k-Insured Money Maker
0.30%$25k-BusinessOne Preferred Money Market Account

Astoria Federal Savings CD Rates

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1.25%$500-5 Year CD
1.25%$20k-10 Year Callable CD
1.05%$500-3 Year CD
1.05%$500-3 1/2 Year CD
1.05%$500-4 Year CD
0.75%$500-2 1/2 Year CD
0.55%$500-2 Year CD
0.50%$500-1 1/2 Year CD
0.15%$500-One Year CD
0.15%$500-15 Month CD
0.15%$100k-360 - 365 Day Jumbo CD
0.10%$500-9 Month CD
0.10%$100k-76 - 105 Day Jumbo CD
0.10%$100k-106 - 135 Day Jumbo CD
0.10%$100k-136 - 165 Day Jumbo CD
0.10%$100k-166 - 269 Day Jumbo CD
0.10%$100k-270 - 359 Day Jumbo CD
0.05%$5k-3 Month Liquid CD
0.05%$500-3 Month CD
0.05%$500-4 Month CD
0.05%$500-6 Month CD
0.05%$100k-30 - 45 Day Jumbo CD
0.05%$100k-46 - 75 Day Jumbo CD

Astoria Federal Savings IRA Rates

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0.05%$100-1 1/2 Year Variable IRA

Rates updated: 5/27/2012

Data for Q1 2012


Institution Statistics


Astoria Federal Savings and Loan Association
OTS #04115
FDIC Certificate #29805
BankRate ReportView
Year Established1888
Employees1535
Primary RegulatorOCC

Assets and Liabilities

Assets$17.07 billion
Loans$13.25 billion
Deposits$11.32 billion
Equity Capital$1.61 billion
Loan Loss Allowance$149.90 million
Unbacked Noncurrent Loans$352.33 million
Real Estate Owned$39.93 million

Historic Data - March 2011

Assets$17.65 billion
Equity Capital$1.58 billion
Loan Loss Allowance$189.49 million
Unbacked Noncurrent Loans$374.77 million
Real Estate Owned$62.40 million

Profit Margin - Quarterly

Net Interest Margin2.43%
Return on Assets0.35%
Return on Equity3.79%
Interest Income$158.60 million

Institution Health


Overall Score:
3 out of 5
3
Texas Ratio3
The Texas Ratio is an indicator of how much funds a bank has available compared to the total value of loans considered at risk. As of March 31, 2012 Astoria Federal Savings had $392.26 million in non-current loans and owned real-estate with $1.76 billion in equity and loan loss allowances on hand to cover it. This gives Astoria Federal Savings a Texas Ratio of 22.30% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
Texas Ratio Trend3
The Texas Ratio for Astoria Federal Savings held steady from 24.78% as of March 31, 2011 to 22.30% as of March 31, 2012, resulting in a positive change of 9.98%.This indicates that the balance sheet and financial strength for Astoria Federal Savings has held steady in recent periods.
Deposit Growth2
In the past year, Astoria Federal Savings has decreased its total deposits by -$374.82 million, resulting in -3.21% growth for the year. A strong track record of growth is an indicator of consumer confidence and the bank's ability to strengthen its balance sheet. The growth Astoria Federal Savings has shown is below average.
Capitalization4
Both FDIC and NCUA consider capitalization levels of banks and credit unions to be of high importance. Higher capitalization allows for a greater buffer when cover loans that may fail in the future. Astoria Federal Savings has $17.07 billion in assets with $1.76 billion in equity, resulting in a capitalization level of 10.30%, which is above average.
Write Review

Abysmal Customer Service From Astoria Federal Savings
1 stars - coco - Wednesday, March 9, 2011 - 5:03 PM

This is the feedback of my experience with Astoria Federal Savings,
which I post here in the hope to spare
someone else the aggravation of dealing with this financial institution.
 
Yesterday I had to call Astoria Federal Savings several times, trying to sort out if
it was possible to do a direct transfer of an IRA from another financial bank to theirs.
 
After having to provide all the personal information EACH timeI called, and walk through the legal terms
that the Astoria representatives struggled to read over the phone
(they couldn't even provounce country names, eg. Lebanon),
it turned out that no two representatives could agree on the procedure -or IF it could be done.
 
Moreover, the last person who took my call, Kim, was not only incompetent, but downright impertinent.
 
Please allow me to explain why I call Kim incompetent: not only she didn't know the difference between
an IRA rollover and a direct transfer, but she became rude when I suggested that a rollover was different
than a direct transfer in that it would require me to deal with the distributions, starting to raise her voice and enunciate the words as if I were the one who was slow.
 
In addition, Astoria federal Savings makes even providing feedback impossible without an account. And there is no way I am not going to call again or open an account with such a bank!

5

A Bank That Truly Appreciates Its Customers
5 stars - ecatala77 - Sunday, February 27, 2011 - 4:34 PM

In addition to its banking products, Astoria Federal Savings thanks its customers in a unique way.  Once a year they mail cutomers an invitation to a free concert performed by a local pop orchestra held at C.W. Post.  This is the first year we attended and were truly surprised.  Refreshments including coffee, tea, juice, and wonderful (large) fresh baked cookies were provided.  At the start of the show a bank official sincerely thanked the audience for chosing Astoria.  I'm not sure if they invite all customers every year or if they rotate who receives the invitation.

As long as their products remain competitive, I'll choice a bank that appreciates me as a customer.

4