Blue Foundry Bank

Overview / Commentary
25 Orient Way
Rutherford, NJ 07070

At Boiling Springs Savings Bank, they believe that true community banking means providing their customers with the best solutions to their financial needs through superior personal and professional service provided by a staff of dedicated people. It also means being a part of the community. They strive to support their communities by making a positive impact on the organizations and neighborhoods within their market.

Reviews (3)

Absolute Disaster Of A Bank

Posted by: |

Their customer service, their attitude, completely disorganized, they lie to you about what they offer. I got a loan from them and it was worst process ever. If you can find another bank, any thing is better than them.


Posted by: |

I went to Boiling Springs last year to close out a CD that was set up almost 20 yrs ago when my great-grandmother passed away. Since it was the last day of the period allowed, and we did not have a passbook, we were told that we could close the account and pay $10 for the account not having a passbook or they would put a note in the system and next year we would not have any problems. Well, guess what....

Passbooks were not issued because of how the account was opened and when I went to get the money this year, again same issue with the passbooks. The only note put on the account last year was that we came to take it out of a dormant state. They will not let me close the account without a passbook and are going to charge me $10 because I "lost" a passbook that was never issued! First off, to charge me a $10 fee for a passbook is ABSURD and then to make me have one to close the account is even more ridiculous! THIS BANK IS CRAP. I have 4 other accounts in this bank and they are all being closed.

Do yourself a favor, find another bank before they find some reason to charge you for ridiculous things.

My Rating For This Bank Is A Zero

Posted by: |

My rating for this bank is a zero.  I approached the mortgage department asking for a reprieve for 2 months because I have a seasonal business.  I paid my mortage promptly for 15 years but had a rough patch.  They treated me like shit and were anxious to trash my credit.  They keep sending me late fees for a balance of $3,000.  Go to Wachovia in Rutherford  and ask for Lina.  This is the best bank and they care about their customers.  Boiling Springs Savings Bank rates a zero in my book.  I will tell all my friends.

Additional Factors: Institutions with a small asset base, a short operating history, or negative return on equity can represent an instability risk beyond what their financial ratios indicate. Blue Foundry Bank has a negative return on equity.

Health Grade Components

FDIC Certificate #30052
Year Established1939
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-1.16%
Return on Equity - YTD-10.46%
Annual Interest Income$48.4MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$1.92B$1.78B
LoansQ3 2020vs Q3 2019$1.33B$1.42B
DepositsQ3 2020vs Q3 2019$1.34B$1.28B
Equity CapitalQ3 2020vs Q3 2019$205.6MM$223.5MM
Loan Loss AllowanceQ3 2020vs Q3 2019$17.3MM$13.8MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$10.5MM$5.0MM
Real Estate OwnedQ3 2020vs Q3 2019$384.00K$1.2MM
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Always verify rates and promotions with the bank or credit union. We are not Blue Foundry Bank; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Blue Foundry Bank Savings Account Rates

0.40%--Blue Axis Savings
0.40%--Blue IRA Axis Saving
0.25%*$50k*-Simply-Safe Savings - New Money
OTHER TIERS: 0.15% Up to $50k
0.15%--Holiday Savings Club Account
0.15%--Special Occasion Savings Account

Blue Foundry Bank Money Market Rates

0.40%*$250k*-Magnum Money Market Checking
OTHER TIERS: 0.10% $25k - $100k | 0.25% $100k - $250k
0.40%--Blue Axis Money Market Checking

Blue Foundry Bank Checking Account Rates

1.00%$1-IOLTA Fund
0.30%*$50k*-Blue Carbon Business Checking
OTHER TIERS: 0.15% $10k - $50k
0.25%--Blue Axis Checking
0.25%--Blue Axis Connect
0.05%--Classic Checking

Blue Foundry Bank CD Rates

0.55%$1k-12 Month CD Special w/ AxisChecking-Bonus
0.40%$1k-60 Month CD
0.40%$1k-48 Month CD
0.35%$1k-12 Month CD
0.35%$1k-24 Month CD
0.35%$1k-36 Month CD
0.35%$5k-12 Month eCD (Available Online Only)
0.25%$1k-6 Month CD

Blue Foundry Bank IRA Rates

0.40%$1k-60 Month IRA
0.40%$1k-48 Month IRA
0.35%$1k-12 Month IRA
0.35%$1k-18 Month IRA
0.35%$1k-24 Month IRA
0.35%$1k-36 Month IRA
0.34%$250-18 Month Variable IRA
0.25%$1k-6 Month IRA

Sorry, but we do not have location data for Blue Foundry Bank. Its headquarters is located at 25 Orient Way - Rutherford, NJ 07070

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