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660 Newark Ave
Jersey City, NJ 07306-2379

Liberty Savings Credit Union is headquartered in Jersey City and is the 34th largest credit union in the state of New Jersey. It is also the 1,769th largest credit union in the nation. It was established in 1951 and as of March of 2014, it had grown to 35 employees and 19,673 members. Liberty Savings Credit Union has a B health rating.

Field of Membership Restrictions

Membership at Liberty Savings FCU is open to persons who live, work, worship, or attend school in Hudson County, New Jersey. There's also a long list of employment, education, and organizational eligibilities. The membership application seems to imply anyone may be able to join. Please refer to the members page for the full details. - See Details

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Reviews (6)

Online Rates Are Not Accurate

I went into Liberty (Union City branch) to open up a 6 year CD on Feb 15, 2012 since the advertised rate was 2.85%, with an additional 0.1% if you invest $50,000 or more, and their surrender charge is only 3 months simple interest. You can also get another 0.15% if you have a checking account and qualify for silver status (combined assets of 10K). You can get another 0.05% or 0.1% if you have direct deposit and open up a credit card, which I didn't want.

I called on Friday Feb 10 to make sure that the rates were the same as the web site, because their web site states that the rates were effective as of last June, and I figured that the online rates were stale. The customer service rep confirmed the rates.

Unfortunately, when I arrived at the bank the posts rates were significantly lower: 2.1% for the 6 year CD. I still opened up the account with 50K and opened up a checking account with $25 to get the rate up to 2.35%, which is still good considering the low surrender fees- if you hold the CD for 1 year you still earn 1.77% after subtracting the surrender charge.

Regarding the previous posts- service was quite slow- there were two accounts reps at the branch, but both were chatting on the phone for 15 minutes before seeing me. The agent was quite nice however, but I can see them being low tech.

As for the 2 IDs, their membership application specifically states one form of ID if it is a driver's license; for some other IDs, including a passport, it states you need to prove your address with another ID, which makes sense since one of the ways to join the credit union is to be a resident of Hudson county. I opened with a passport but I had my utility bill with me and it was fine. After you join any family member can join through the mail.

If you live in Northern NJ the CD rates are competitive- but don't open anything less than the 5 year since even with the surrenders you will earn more than any of the lower term CDs.

Hope that helps


Bad Service And Old System

The worst service and attitude! They ask you to call the accounts manager, but she never returns phone calls. 

To make matters worst, I have not been able to access my account, electronically or by phone, since the hurricane. I don't know if my business charges are being accrued to my account or any number of things one does with on line banking! I think they would benefit from joining the rest of us, in the 21st century. 

STAY AWAY! Go To Big Name Bank.

they have horrible customer service and no telephone support. 

they screwed up my account number on my checks twcie.  (the teller manually inputs informtion on order form)

I had two checks bounce as a result 



Terrible Customer Service

Today I went to Liberty Savings Federal Credit Union office at 666 Newark Avenue to become a member.  Their requirement to sign-up is to have ONE form of ID with you (stated on their site) but at their location a receptionist and a not so nice and unprofessional "Manager" tell that I also need either a New Jersey Driver's License or a Utility bill in my name inorder to join.  This is not stated on their site, only one proof of ID was needed which I had ( US Passport ) but these people insisted a passport was NOT enough.  I also stated that I had an account with Bank Of America at Journal Square in Jersey City, still not good enough for them.  This manager never introduced herself to me nor showed some sort of personality or some sense of customer service.  I called their customer service center to voiced my displeasure and spoke to a service center person who said she could do nothing for me other than to refer me to a "Manager".  So I was switched to her line and SURPRISE, she was not in, so I left a message for her to call me back.  That was at 1:47 pm today and it is now 4:51  pm and no one has returned my call.  So we have a very upset customer and no one at Liberty Savings Federal Credit Union - CARES !!!!

Greatful Customer

I have been a member of this credit union for 5 years. This credit union has helped me rebuild my credit & pay down a load of debt when no one else would. I would give them 5 stars except for the fact that I haven't been able to access my account online since Hurricane Sandy hit.

Rate Dropped

Their rates dropped dramatically on Dec 14.


Data for Q1 2014

Institution Health

Additional Factors: Institutions with a small asset base or a short operating history can represent an instability risk beyond what their financial ratios indicate. Liberty Savings Credit Union has a relatively low asset base.

Texas Ratio


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 Liberty Savings Credit Union had $2.35 million in non-current loans and owned real-estate with $10.41 million in equity and loan loss allowances on hand to cover it. This gives Liberty Savings Credit Union a Texas Ratio of 22.60% which is average. Any bank with a Texas Ratio near or greater than 100% is considered at risk.

Texas Ratio Trend


The Texas Ratio for Liberty Savings Credit Union experienced no significant changes from 21.64% as of March 31, 2013 to 22.60% as of March 31, 2014, resulting in a negative change of 4.44%. This indicates that the balance sheet and financial strength for Liberty Savings Credit Union has had no significant changes in recent periods.

Deposit Growth


In the past year, Liberty Savings Credit Union has increased its total deposits by $2.88 million, resulting in 4.26% 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 Liberty Savings Credit Union has shown is excellent.



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. Liberty Savings Credit Union has $79.63 million in assets with $10.41 million in equity, resulting in a capitalization level of 13.07%, which is excellent.

Institution Statistics

NCUA #7184
Year Chartered1951
Primary Regulator
Assets and Liabilities
Assets$79.63 million
Loans$63.52 million
Deposits$70.48 million
Equity Capital$8.62 million
Loan Loss Allowance$1.79 million
Unbacked Noncurrent Loans$2.35 million
Real Estate Owned$0
Historic Data - March 2013
Assets$75.83 million
Equity Capital$7.15 million
Loan Loss Allowance$1.71 million
Unbacked Noncurrent Loans$2.35 million
Real Estate Owned$0
Profit Margin - Quarterly
Return on Assets2.03%
Return on Equity18.76%
Interest Income$1.67 million

Sorry, we do not have rate data for Liberty Savings Credit Union


Liberty Savings Credit Union Locations
Branch Office108 48th StUnion City, NJ 07087
Branch Office1590 Kennedy Blvd.Jersey City, NJ 07305
Branch Office660 Newark AveJersey City, NJ 07306-2379