Blue Foundry Bank Reviews and Rates

Blue Foundry Bank

Overview / Commentary

201-939-5000

19 Park Ave
Rutherford, NJ 07070-3832

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.

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2015
2014

11/6 - Boiling Springs Savings Bank (NJ) Adds Competitive 21-month CD

11/24 - Boiling Springs Savings Bank (NJ) Offers Competitive 15-month CD - Local

Reviews (8)

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Joe Bubba, Jr

Posted by: JBubbajr | Sep 3, 2024

Anna Raimato was very knowledgeable and helpful at the Lincoln Park Branch.

Bergen County American Dream Program

Posted by: Kelvind730 | Jun 15, 2023

We are first time homebuyers, and I must say that my family and I couldn’t be happier with the way things are proceeding. I enrolled in the Bergen County American Dream Program, where they help you purchase your first home. The program guides and assists you, in many aspects (Educationally & Financially).
Blue Foundry Bank (Rutherford, NJ) is also part of the American Dream program, where they also guide and assist you, every step of the way! The staff at Blue Foundry Bank (Linda Fisher, Joseph Valenti, and James Kim) have gone above and beyond by demonstrating their commitment and hard-work ethic to make my family and I feel confident and comfortable throughout the process. We are Grateful for The Bergen County American Dream Program, and want to encourage any and everyone who might be able to qualify.

Pls Delete My Review

Posted by: Dareview | Apr 4, 2024

Please delete my review. The problem is solved

FALSE 6% CD- BLENDED LOWER RATE NOT SHOWN.

Posted by: JINAYAKO | Jul 18, 2024

If you put $100,000.00 into this FALSE 6% CD. You will NEVER EARN TRUE & REAL 6% on your whole INVESTMENT. WHY??
Because Access Checking where Blue Foundry FORCES you to put 12.5% in the checking account.Therefore you will NEVER Earn 6% in your whole investment of 100K.
This crocked trick is meant to catch the false high interest rate.
There is something called TRUTH IN ADVERTISING, where a TRUE LOWER BLENDED RATE has to be mentioned very clearly mentioned in the OPEN eg 5.25%. If Blue Foundry's TRUE Intentions are to prove to SENIOR CITIZENS that they are truly TRUST WORTHY, This con game is NOT allowed in the BOND buying Market. Where Money is involved the Ad Must show the lower Blended rate in the OPEN, so we can trust Blue foundry with our money.

Terrific Service

Posted by: Soonersam19 | Nov 10, 2023

At the Union Avenue Rutherford branch, Branch Manager Michael Fox is a great credit to this bank...He helped me navigate my situation at a very difficult time, and couldn't have been more helpful or caring...Everyone in the branch that I deal with is friendly, knowledgeable and caring...What 'Community Banking' should be about..Highly recommended!

Comment

Update On Poor Review

Posted by: GregW | Jan 27, 2022

I've had an IRA with this bank since I was a kid, perhaps 45 years now. I've had approximately $150 in the account for years, asking to close the account numerous times because, why have $150 in an account?
A nice woman called and said that since it's been so long and that I don't have a passbook, they are charging me $10 for the lost passbook, and $50 to close the account, the 'normal' procedure.

Edit: After my poor review The bank manager called this morning and waived all fees, hence I've upgraded my review. Always ask about fees. I've never had a bank charge this much to close an account. Most don't charge a fee, some $30, but $60 on a $150 account is crazy. Their teller should have known this was wildly unfair and should have routed me to the manager to work it out.

Comment

Exorbitant Fee To Close An IRA CD1

Posted by: mtropea | Jul 11, 2022

I had a 3-yr. IRA CD which was maturing. I came upon the reviews about charging $50 to close an IRA CD. Over the years I have transferred many, many IRA accounts in order to obtain the best rates.

I went home and carefully read my June 2019 Agreement and nowhere was there anything about a fee to close an IRA CD.

The next morning I contacted the bank's customer service and explained the situation and felt that I should be "grandfathered" since a fee was instituted way after I opened the account in 2019.
Later that day I received a call from the Asst. Manager stating that the fee would not be waived.

I'm putting this out there so that others will not be held hostage as I feel I was.

Comment

Do Not Bank Here

Posted by: maxlucy | Jun 11, 2021

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

Comment

Health

Data as of Q2 2024

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	30052
Year Established	1939
Employees	174
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	-0.38%
Return on Equity - YTD	-2.81%
Annual Interest Income	$42.3MM

Assets and Liabilities
Assets	Q2 2024vs Q2 2023	$2.04B$2.08B
Loans	Q2 2024vs Q2 2023	$1.53B$1.57B
Deposits	Q2 2024vs Q2 2023	$1.37B$1.34B
Equity Capital	Q2 2024vs Q2 2023	$272.9MM$275.7MM
Loan Loss Allowance	Q2 2024vs Q2 2023	$13MM$14.4MM
Unbacked Noncurrent Loans	Q2 2024vs Q2 2023	$6.2MM$8MM
Real Estate Owned	Q2 2024vs Q2 2023	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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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

APY	MIN	MAX	ACCOUNT NAME
5.00%^*	$0	$15k	Blue Axis Savings IRA
OTHER TIERS: 0.50% → $15k+
5.00%^*	$0	$5k	Blue Axis Edge Savings
OTHER TIERS: 1.70% → $5k - $250k \| 2.65% → $250k+
1.75%	$0	-	Blue Carbon Business Savings
0.10%	$0	-	Holiday Savings
0.10%^*	$50k^*	-	Simply-Safe Savings - New Money
OTHER TIERS: 0.05% → $0 - $50k
0.10%	$0	-	Blue Axis Savings

Blue Foundry Bank Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
4.00%^*	$5m^*	-	High Balance Money Market – Tiered
OTHER TIERS: 0.50% → $0 - $5m
3.00%^*	$1m^*	-	Blue Axis Tiered Money Market
OTHER TIERS: 2.00% → $20k - $250k \| 2.65% → $250k - $1m
0.70%	$0	-	Blue Carbon Business Money Market

Blue Foundry Bank Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
3.30%	$0	-	IOLTA Fund
2.65%	$250k	-	Blue Carbon Edge Business Checking
1.00%	$0	-	Blue Axis Connect
0.10%^*	$50k^*	-	Blue Carbon Business Checking
OTHER TIERS: 0.05% → $10k - $50k
0.05%	$0	-	Blue Axis Checking
0.01%	$0	-	Classic Checking

Blue Foundry Bank CD Rates

APY	MIN	MAX	ACCOUNT NAME
6.00%	$5k	-	5 Month CD Special w/Blue Axis Checking - New Money
6.00%	$5k	-	Business 5 Month CD Special w/Blue Axis Checking - New Money
5.25%	$1k	-	9 Month CD Special w/checking - New Money
5.25%	$1k	-	Business 9 Month CD Special w/checking - New Money
5.25%	$5k	-	5 Month CD Special - New Money
5.25%	$5k	-	Business 5 Month CD Special - New Money
5.00%	$5k	-	3 Month CD w/checking - New Money
5.00%	$5k	-	Business 3 Month CD w/checking - New Money
4.75%	$1k	-	9 Month CD Special - New Money
4.75%	$1k	-	Business 9 Month CD Special - New Money
4.50%	$1k	-	12 Month CD Special w/DirectDeposit
3.50%	$1k	-	24 Month CD Special w/DirectDeposit
3.00%	$1k	-	36 Month CD Special w/DirectDeposit
2.50%	$5m	-	12 Month HighBalance CD
0.50%	$1k	-	12 Month CD
0.50%	$1k	-	36 Month CD
0.50%	$1k	-	Business 12 Month CD
0.50%	$1k	-	Business 36 Month CD
0.40%	$1k	-	60 Month CD
0.40%	$1k	-	Business 60 Month CD
0.35%	$1k	-	48 Month CD
0.35%	$1k	-	Business 48 Month CD
0.30%	$1k	-	24 Month CD
0.30%	$1k	-	Business 24 Month CD
0.20%	$1k	-	6 Month CD
0.20%	$1k	-	Business 6 Month CD

Blue Foundry Bank IRA Rates

APY	MIN	MAX	ACCOUNT NAME
4.00%	$1k	-	12 Month IRA Special
0.50%	$1k	-	12 Month IRA
0.50%	$1k	-	36 Month IRA
0.40%	$1k	-	60 Month IRA
0.35%	$1k	-	48 Month IRA
0.30%	$1k	-	24 Month IRA
0.20%	$1k	-	6 Month IRA