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973-576-2000
129 Littleton Rd
Parsippany, NJ 07054-1869

Garden Savings Federal Credit Union is headquartered in Parsippany and is the 10st largest credit union in the state of New Jersey. It is also the 707th largest credit union in the nation. It was established in 1968 and as of March of 2014, it had grown to 48 employees and 24,621 members. Garden Savings Federal Credit Union's savings rates are 92% higher than the national average, and it has a A health rating.

Field of Membership Restrictions

If you are an employee of one of our Select Employer Groups, or a relative of an employee, or a member of one of the listed organizations within our field of membership, then you are eligible to join Garden Savings Federal Credit Union. Persons who are retired as pensioners or annuitants of these organizations as well as volunteers at these organizations are also eligible. You are also eligible for membership if you live, work, worship, attend school, volunteer or regularly conduct business in Newark, Elizabeth, or Jersey City. Your family members are eligible as well. (Businesses and other legal entities included.) - See Details

Related Posts

Top Promotional CD Rates at Garden Savings FCU in New Jersey - 3/11/2014

Garden Savings Federal Credit Union has recently begun a promotion with three very competitive certificates. These include a 1.00% APY 6-month CD, a 2.02% APY 4-year CD and a 2.53% APY 5-year CD. Mini ...

Promotional 2-year CD Rate at Garden Savings FCU in New Jersey - 8/28/2013

Garden Savings Federal Credit Union has recently begun to offer a very competitive 2-year CD special. It has a 1.51% APY, and a minimum deposit of $1,000. New deposits are required which are defined a ...



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Health

Data for Q1 2014

Institution Health

A

Texas Ratio

GRADE:
A

The Texas Ratio is an indicator of how much capital a bank has available compared to the total value of loans considered at risk. As of March 31, 2014 Garden Savings Federal Credit Union had $2.64 million in non-current loans and owned real-estate with $32.55 million in equity and loan loss allowances on hand to cover it. This gives Garden Savings Federal Credit Union a Texas Ratio of 8.12% which is excellent. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend

GRADE:
B+

The Texas Ratio for Garden Savings Federal Credit Union decreased slightly from 11.00% as of March 31, 2013 to 8.12% as of March 31, 2014, resulting in a positive change of 26.20%.This indicates that the balance sheet and financial strength for Garden Savings Federal Credit Union has improved slightly in recent periods.

Deposit Growth

GRADE:
B+

In the past year, Garden Savings Federal Credit Union has increased its total deposits by $4.49 million, resulting in 1.76% 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 Garden Savings Federal Credit Union has shown is above average.

Capitalization

GRADE:
A

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. Garden Savings Federal Credit Union has $292.23 million in assets with $32.55 million in equity, resulting in a capitalization level of 11.14%, which is excellent.

Institution Statistics

Overall
NCUA #18710
Year Chartered1968
Employees48
Primary Regulator
Assets and Liabilities
Assets$292.23 million
Loans$179.83 million
Deposits$259.93 million
Equity Capital$29.19 million
Loan Loss Allowance$3.36 million
Unbacked Noncurrent Loans$2.64 million
Real Estate Owned$0
Historic Data - March 2013
Assets$288.13 million
Equity Capital$29.73 million
Loan Loss Allowance$3.22 million
Unbacked Noncurrent Loans$2.64 million
Real Estate Owned$0
Profit Margin - Quarterly
Net Interest Margin1.28%
Return on Assets0.15%
Return on Equity1.52%
Interest Income$2.85 million
Rates

Always verify rates and promotions with the bank or credit union. We are not Garden Savings Federal Credit Union, we are a rate comparison website and can not provide official rates or promotions.

Garden Savings Federal Credit Union Savings Account Rates

DetailsAPYMINMAXPRODUCT
1.00%--Kids Club Account
0.90%$40k-IRA Accumulator
0.90%$40k-Roth IRA Accumulator
0.90%$40k-CESA Accumulator
0.70%--Holiday Club
0.30%--Vacation Club
0.20%$2,500-High Yield Savings
0.10%$250-Regular Share Account

Garden Savings Federal Credit Union Money Market Rates

DetailsAPYMINMAXPRODUCT
0.80%$1m-Platinum Money Market
0.40%$50k-Gold Money Market

Garden Savings Federal Credit Union Checking Account Rates

DetailsAPYMINMAXPRODUCT
0.50%$750-Senior Account
0.10%--Diamond Checking
0.10%$750-V.I.P. Account
0.10%--Student Account

Garden Savings Federal Credit Union CD Rates

DetailsAPYMINMAXPRODUCT
1.76%$500-5 Year Share Certificate
1.51%$500-4 Year Share Certificate
1.26%$500-3 Year Share Certificate
1.16%$500-3 Year Flex-Rate Share Certificate
1.00%$500-2 Year Share Certificate
0.90%$500-2 Year Flex-Rate Share Certificate
0.65%$500-18 Month Share Certificate
0.60%$500-12 Month Share Certificate
0.55%$500-1 Year Flex-Rate Share Certificate
0.45%$500-8 Month Share Certificate
0.45%$500-9 Month Share Certificate
0.40%$500-6 Month Share Certificate
0.40%$500-7 Month Share Certificate
0.35%$500-3 Month Share Certificate
0.35%$500-4 Month Share Certificate
0.35%$500-5 Month Share Certificate
0.20%$500-30 Day Share Certificate

Garden Savings Federal Credit Union IRA Rates

DetailsAPYMINMAXPRODUCT
1.76%$500-5 Year IRA Share Certificate
1.51%$500-4 Year IRA Share Certificate
1.26%$500-3 Year IRA Share Certificate
1.16%$500-3 Year Flex-Rate IRA Share Certificate
0.90%$500-2 Year Flex-Rate IRA Share Certificate
0.65%$500-18 Month IRA Share Certificate
0.60%$500-12 Month IRA Share Certificate
0.55%$500-1 Year Flex-Rate IRA Share Certificate
0.45%$500-8 Month IRA Share Certificate
0.45%$500-9 Month IRA Share Certificate
0.40%$500-6 Month IRA Share Certificate
0.40%$500-7 Month IRA Share Certificate
0.35%$500-3 Month IRA Share Certificate
0.35%$500-4 Month IRA Share Certificate
0.35%$500-5 Month IRA Share Certificate
0.20%$500-30 Day IRA Share Certificate
Locations


Garden Savings Federal Credit Union Locations
Branch Office600 Mountain Ave Rm 6H-216New Providence, NJ 07974-2008
Branch Office101 Columbia RdMorristown, NJ 07960-4640
Branch Office120 Ferry StNewark, NJ 07105
Branch Office23 Prospect StDover, NJ 07801
Branch Office129 Littleton RdParsippany, NJ 07054-1869