Hudson City Savings Bank is a New Jersey-based bank that strives to attract deposits and make sound mortgages. It focuses on personal depository banking and lending, and thus does not offer business or investment products.
Hudson City Savings’ deposit accounts include savings, checking, money market, Certificate of Deposit (CD), and IRA CD accounts. One savings account option features a free ATM card and requires a low initial deposit. A free checking account is available and includes a MasterCard debit card, direct deposit, and unlimited check writing. There is also a checking account option that earns higher interest, but requires a large minimum account balance to be maintained. Money market savings accounts are similar to savings account and come with limited withdrawals and transfers. Certificates of Deposit (CDs) and IRA CDs are offered with term lengths ranging from 3 months to 5 years. On the lending side, the bank makes mortgages and consumer lines of credit available to consumers.
Hudson City Savings Bank online banking has improved security features and provides a platform for customers to access and manage their deposit accounts. Account management activities like transaction history viewing, fund transfers, and bill paying can be accomplished with ease.
Hudson City Savings Bank was originally established in 1868 with the name it uses to this day. The bank changed its organization type with the FDIC to a stock savings bank in 1999. It is headquartered in Paramus, New Jersey, and serves its customers through numerous branches located through the region.
Hudson City Banks High Yield is a joke. My balance went down less than 10k for a few days. They charged $20 service charge, and they give me a HIGH YIELD of $6.81 for the month.
Meaning, the HIGH YIELD is working reverse, FOR THEM.
I am getting my money OUT. Hudson City Bank is history for me.
And finally, here is my ode to a lost hero, Hudson City Savings. Back when brick and mortar banks reigned supreme, Hudson City always stood head and shoulders above the rest. Their interest yields were always impressive, especially within the High Yield Checking accounts. Their customer service was always stalwart. How I will miss those days, as it's so hard to complete with the online banks. Today, I will pay homage to the bank that generations enjoyed for such a long time. Hudson City was the stuff your grandparents loved.
Hudson City Bank denies any loan modification even if you qualify for the HAMP, the settlement with the government or traditional modifications. They'd rather prefer to lose money on foreclosure or short sale. This is not helping their shareholders and not helping the consumers. Something is definitely wrong with the management of this bank.
3 WEEKS AGO I SUBMITTED INITIAL APPLIC. AND NECESSARY DOCUMENTATION.
HEARD NOTHING FOR TWO WEEKS.
EVENTUAALY, REC'D GOOD FAITH ESTIMATE, REQUEST FOR SIGNATURE ON TRUTH-IN-LENDING AND BORROWER CERTIFICATION FORMS. ALSO REC'D REQUEST FOR PROOF OF HOME INSURANCE AND ADDITION OF HUDSON SAVINGS BANK AS 2ND MORTAGEE.
IT WAS STATED THAT I WOULD BE NOTIFIED OF A CLOSING DAY WHEN DOCUMENT REQUEST WAS SATISFIED.
I NOTIFIED MY INSRANCE CO. OF REQUEST AND THEY AND I FAXED THE NECESSARY PAPERWORK, INCLUDING THE ADDITION OF HUDON AS 2ND MORTAGEE.
I CALLED THE HUDSON CONSUMER LOAN DEPT. TODAY TO CHECK ON RECEIPT OF FAXES.
AFTER 4 SEPARATE ATTEMPTS BY THE OPERATOR FOR SOMEONE TO ANSWER THE PHONE AT THE DEPT.
iSOMEONE SHEEPLISHLY ANSWERED THE PHONE WITH AN ALMOST INCOHERENT 'hello'.
I ATTEMPTED TO EXPLAIN THAT I WAS CHECKING ON THE RECEIPT OF THE APPLICABLE FAXES.
I WAS PUT ON A SILENT 'HOLD-ON' FOR 5 MINUTES AND THEN TOLD MY EQUITY LOAN APPLIC. WAS REJECTED. I ASSUMED THERE WAS A MISTAKE SINCE MY MO. PYMT ON THE LOAN WAS $ 87 PER MO.
I COULD NOT BELIEVE THAT I WAS TURNED DOWN FOR AN $87 MO. PYMT.
BUT MORE THAN THAT, BEING TOLD TO CHANGE MY INSURANCE POLICY, INDICATING A CLOSING DATE UPON RECEIPT OF PAPERWORK AND A TOTALLY UNPROFESSIONAL EXPERIENCE LEADS ME TO SAY THAT HUDSON SAVINGS BACK DOES NOT DESERVE ANY STARS.
i BUT TO POST THIS MESSAGE I NEEDED TO INDICATE AT LEAST ONE...BUT AS I SAID THEY DON'T EVEN DESERVE THAT.
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 Hudson City Savings Bank had $967.99 million in non-current loans and owned real-estate with $4.69 billion in equity and loan loss allowances on hand to cover it. This gives Hudson City Savings Bank a Texas Ratio of 20.63% which is above average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.
The Texas Ratio for Hudson City Savings Bank experienced no significant changes from 21.44% as of March 31, 2013 to 20.63% as of March 31, 2014, resulting in a positive change of 3.78%.This indicates that the balance sheet and financial strength for Hudson City Savings Bank has had no significant changes in recent periods.
In the past year, Hudson City Savings Bank has decreased its total deposits by -$2.1 billion, resulting in -9.01% 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 Hudson City Savings Bank has shown is below average.
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. Hudson City Savings Bank has $38.23 billion in assets with $4.69 billion in equity, resulting in a capitalization level of 12.27%, which is excellent.
|FDIC Certificate #||13074|
|Assets and Liabilities|
|Equity Capital||$4.43 billion|
|Loan Loss Allowance||$265.73 million|
|Unbacked Noncurrent Loans||$889.40 million|
|Real Estate Owned||$78.59 million|
|Historic Data - March 2013|
|Equity Capital||$4.36 billion|
|Loan Loss Allowance||$301.09 million|
|Unbacked Noncurrent Loans||$889.40 million|
|Real Estate Owned||$0|
|Profit Margin - Quarterly|
|Net Interest Margin||1.39%|
|Return on Assets||0.43%|
|Return on Equity||3.71%|
|Interest Income||$312.54 million|
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|0.20%||$2,500||-||Money Market Savings|
|0.20%||$25k||-||Money Market Checking|
|0.20%||$2,500||-||Internet Money Market Savings|
|0.25%||$10k||-||High Value Checking|
|0.20%||$5k||-||Better Interest Banking|
|0.15%||$1k||-||Super NOW Account|
|1.45%||$500||-||5 Year CD|
|1.25%||$500||-||4 Year CD|
|1.20%||$500||-||3 Year CD|
|1.20%||$5k||-||3 Year Internet CD|
|1.15%||$500||-||2 Year CD|
|1.15%||$500||-||30 Month CD|
|1.15%||$5k||-||2 Year Internet CD|
|1.00%||$500||-||18 Month CD|
|0.60%||$500||-||13 Month CD|
|0.50%||$500||-||1 Year CD|
|0.35%||$500||-||7 Month CD|
|0.35%||$500||-||9 Month CD|
|0.30%||$500||-||5 Month CD|
|0.30%||$500||-||6 Month CD|
|0.25%||$500||-||4 Month CD|
|0.20%||$500||-||91 Day CD|
|1.45%||$500||-||5 Year IRA|
|1.25%||$500||-||4 Year IRA|
|1.20%||$500||-||3 Year IRA|
|1.20%||$5k||-||3 Year Internet IRA|
|1.15%||$500||-||2 Year IRA|
|1.15%||$5k||-||2 Year Internet IRA|
|1.15%||$500||-||30 Month IRA|
|1.00%||$500||-||18 Month IRA|
|0.60%||$500||-||13 Month IRA|
|0.50%||$500||-||1 Year IRA|
|0.35%||$500||-||7 Month IRA|
|0.35%||$500||-||9 Month IRA|
|0.30%||$500||-||5 Month IRA|
|0.30%||$500||-||6 Months IRA|
|0.25%||$500||-||4 Month IRA|
|0.20%||$500||-||91 Day IRA|