Blue Foundry Bank

Overview / Commentary
19 Park Ave
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 (5)

Do Not Bank Here

Posted by: |

do not bank here I closed an IRA and they charge a fifty dollar fee to close an account no way does it cost fifty dollars to close any account will never recommend bank to anyone who ask me


Posted by: |

Not unless you love being treated VERY poorly!

I agree 100% from the previous reviewer, their customer service is THE WORST!

I applied for a loan... They LOST the first set of papers!!

Applying for the loan there was NOTHING in the paperwork stating that I had to open a saving account to get the funding (is that even legal?)

Here are the kickers..

Originally THEY TOLD ME THEY DON'T TRANSFER DOCUMENTS BETWEEN DEPARTMENTS! So they expected me to make copied of everything to open the account..

When I asked for a check, DENIED - for verification and 'fraud' prevention. GET THIS.. when the funding came through - THE BANK CLOSED MY ACCOUNT AND MAILED ME A CHECK! WHY THEY COULDN"T DO THAT WHEN I ASKED IS BEYOND ME !

TRUST ME - You will be so much happier with another bank - YOU'VE BEEN WARNED!

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.


Health Grade Components

FDIC Certificate #30052
Year Established1939
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-0.16%
Return on Equity - YTD-1.67%
Annual Interest Income$28.4MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$2.58B$1.97B
LoansQ2 2021vs Q2 2020$1.24B$1.40B
DepositsQ2 2021vs Q2 2020$2.02B$1.36B
Equity CapitalQ2 2021vs Q2 2020$204.6MM$206.9MM
Loan Loss AllowanceQ2 2021vs Q2 2020$15.6MM$17.3MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$12.7MM$5.0MM
Real Estate OwnedQ2 2021vs Q2 2020$384.00K$384.00K
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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

0.20%--Blue Axis Savings
0.20%--Blue Axis Savings IRA
0.10%--Holiday Savings
0.10%--Special Occasion Savings
0.10%*$50k*-Simply-Safe Savings - New Money
OTHER TIERS: 0.05% Up to $50k

Blue Foundry Bank Money Market Rates

0.20%*$250k*-Magnum Money Market - New Money
OTHER TIERS: 0.05% $25k - $100k | 0.10% $100k - $250k
0.15%--Blue Axis Money Market

Blue Foundry Bank Checking Account Rates

1.00%--IOLTA Fund
0.15%--Blue Axis Checking
0.15%*$50k*-Blue Carbon Business Checking
OTHER TIERS: 0.10% $10k - $50k
0.10%--Blue Axis Connect
0.05%--Classic Checking

Blue Foundry Bank CD Rates

0.40%$1k-60 Month CD
0.40%$1k-36 Month CD Special w/ Blue Axis Checking
0.35%$1k-48 Month CD
0.30%$1k-18 Month CD
0.30%$1k-24 Month CD
0.30%$1k-36 Month CD
0.30%$5k-36 Month eCD
0.20%$1k-12 Month CD
0.15%$1k-6 Month CD

Blue Foundry Bank IRA Rates

0.40%$1k-60 Month IRA
0.40%$1k-36 Month IRA Special w/ Blue Axis Checking
0.35%$1k-48 Month IRA
0.30%$1k-18 Month IRA
0.30%$1k-24 Month IRA
0.30%$1k-36 Month IRA
0.30%$5k-36 Month eIRA
0.20%$1k-12 Month IRA
0.15%$1k-6 Month IRA

Blue Foundry Bank Locations
East Ridgewood Branch235 E Ridgewood AveRidgewood, NJ 07450
Park Ave Branch19 Park AvenueRutherford, NJ 07070
Jersey City Branch123 Montgomery StJersey City, NJ 07302
Chatham Branch453 Main StChatham, NJ 07928

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