Deposits held and insured by Cross River Bank

Overview / Commentary
400 Kelby St., 14th Floor
Fort Lee, NJ 07024
Deposits held and insured by Cross River Bank

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Internet Bank BrixDirect 1- and 2-Year CDs Are Rate Leaders - 4/24/2020

BrixDirect (new online division of Cross River Bank) currently has the top 1-year CD (2.28% APY) and 2-year CD (2.10% APY). Minimum opening deposit is $50k.

Discrepancy On CD Rates - 4/14/2020

If I'm read this correctly - shows a 1-yr CD @ 1.01% and the BrixDirect website shows 1-yr CD @ 2.28%. I hope I am correct that the posted rate on the BrixDirect website would be correct? Thank you. Not sure if I posted this in the correct place. Evelyn

Easy And Quick Opening Process

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Account opened in 5 minutes. Just address, social security and license info needed. ACH is done by using a service that has you logon to funding account and does the transfer (I think it is called Plan) or you can do a manual process to enter your funding account and routing information, You do have to do 2 verifications that go to phone or email. One for the ACH and one for getting the account. The account was opened immediately and I have an account number, Easy process.

Your ptimary account holder has to have an opened account to add a joint owner. I added my joint owner,

Fast Online CD Opening

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Just opened a CD at BrixDirect. Although the website was slow responding (probably getting enormous online response), the process was relatively simple and quick. One of the fastest online accounts I have opened. You do have to provide password info of the funding bank, but figure I can change the passwords if I feel uncomfortable.

Brixdirect Is New... VERY New

I actually got a live person at BrixDirect (actually it was Cross River, but that's ok). This conversation was somewhat amusing. First of all, I called Cross River Bank because no one answered the BrixDirect number (it eventually went to the loan department, where I left a message). Then I called Cross River bank and took the option of "if you would like to speak to a rep at the Teaneck branch, press 7." That worked! A woman answered. I said can you give me info on BrixDirect? And she cautiously said, "Maybe."
I asked, "How long has BrixDirect existed?" ...after a slight pause, she said, "Yesterday." I said, "Yesterday!??" She said, "Yesterday." (((Yesterday!! As in April 14, 2020!))). I asked what the penalty is on early termination on a 1 yr CD. She said "91 days interest." She told me monthly interest can be transferred to another account at a different bank. And that was pretty much it. I didnt have any questions prepared beyond those 3. Just keep in mind, BrixDirect is the online only arm of Cross River Bank. At the bottom of the BrixDirect homepage it states, "Accounts that are opened via and marketed by BrixDirect are Cross River Bank accounts. Deposits in these accounts are made with Cross River Bank." PS: my star ratings were based purely on one phone call, in which I spoke to a human being.

Account Login Doesn't Work, Can't Get A Hold Of Phone Support

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Got enticed by the FDIC and 2.28% interest rates, but now that I've moved a substantial amount of $ into a CD, I can't create an online account. The account login portion on CrossBank's website and BrixDirect's website doesn't work and give a service unavailable 503 error...not having the warm and fuzzys and starting to panick...



Data as of Q1 2020

Data displayed below is for insuring bank: Cross River Bank
Learn why bank health matters

Health Grade Components

FDIC Certificate #58410
Year Established2008
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD-0.37%
Return on Equity - YTD-3.37%
Annual Interest Income$48.8MM
Assets and Liabilities
AssetsQ1 2020vs Q1 2019$2.53B$1.50B
LoansQ1 2020vs Q1 2019$1.86B$1.22B
DepositsQ1 2020vs Q1 2019$1.91B$1.15B
Equity CapitalQ1 2020vs Q1 2019$248.9MM$215.0MM
Loan Loss AllowanceQ1 2020vs Q1 2019$55.8MM$22.4MM
Unbacked Noncurrent LoansQ1 2020vs Q1 2019$11.1MM$2.2MM
Real Estate OwnedQ1 2020vs Q1 2019$0$0
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BrixDirect CD Rates

1.01%$50k-3 Year CD
0.50%$50k-2 Year CD
0.40%$50k-1 Year CD

BrixDirect is an Internet only bank and does not have branch locations. Its headquarters is located at 400 Kelby St., 14th Floor - Fort Lee, NJ 07024

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