Columbia Bank (NJ)

Overview / Commentary
19-01 Route 208 North
Fair Lawn, NJ 07410

Columbia Bank is a New Jersey-based bank that serves a wide range of customers, including consumers, entrepreneurs, corporations, developers, and local government entities. The bank offers personal and business banking products and services, as well as wealth management services and guidance.

On the personal banking side, Columbia’s checking accounts offer several options to suit a consumer’s financial needs, including a free account with no monthly fees and a high-interest bearing account that comes with avoidable balance requirements. Savings accounts that are available give consumers access to free services like a debit card and online bill pay. By opening both a checking and savings account with Columbia, customers can be reimbursed for ATM fees up to a certain amount. The bank’s money market accounts have a minimum daily balance requirement in order to earn interest and off higher levels of interest for increased account balance thresholds. Certificates of deposit (CDs) range in term lengths from 7 days to 84 months and IRAs from 3 to 72 months. Youth targeted banking is also available and consists of a savings account that comes with very low initial deposit and minimum to earn interest requirements.

Columbia Bank online banking provides a web-based platform for customers to view all of their account activity, make and schedule fund transfers, set email alerts, pay bills, and make loan payments. The banking system also comes with a financial management tool powered by Quicken that integrates Columbia bank accounts into budgeting software and allows customers to effectively manage their finances. Mobile banking apps have also been released by the bank and provide smartphone and tablet access to accounts to make banking on the go convenient and easy.

Columbia Bank was originally established in 1926 as Columbia Savings and Loan Association, before shifting to its current name in 1995. The bank is headquartered in Fair Lawn, New Jersey and serves its customers through numerous branches in the New Jersey and New York regions.

Great Bank And I Have Banked With A Lot

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I think some of the reviews are posted by people who are inexperience.

I travel around the world, have a 2nd home in Australia etc. Columbia's debit card worked everywhere I went, no hassles.

The customer service is great.

I used to bank with B of A and quit after they gambled with my money and my tax payer dollars had to bail them out.

Columbia keeps their mortgages, are not profit greedy and are local. They try to know their customers.

Unlike some small banks they are able to do foreign wire transfers, which my credit union couldn't do.

They are very security conscious.

Raisin Customers Can Have Only ONE (1) Bank Account Linked To Your Savings Accaccount

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Raisin customers can have only ONE (1) bank account linked to your Savings Accaccount. Customers can change their linked bank account 60 days after their initial deposit. If you are a customer and qualify to update your account, please email [email protected] from the email address you use to log in and request an update to your reference account. We will respond to qualifying customers with further instructions.

Not A Good Bank If You Travel Outside Of The US

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The debit/check card is very inconvenient.  We have to call frequently to verify transactions so that holds are released from our account.

Most recently, I called to clear our account for travel outside the US and even though I gave them our account number, they cleared only my card number for travel and not my husband's which we discovered when we were refused a purchase and had to borrow a friend's cell phone to make the international call to the bank.  (The rep gave the excuse that I had mentioned only MY travel and not my husband's which was not the case, showing the bank's complete lack of taking any responsibility).

We made 2 purchases since that time and now they've turned off access to our card again including online banking and the customer service center is of course closed so here we are in England for the Olympics and have absolutely no access to our money.

We'll be changing banks when we return home.

Downhill Fast

Posted by: |

I've been dealing with Columbia since 2013. At that time, they gave good rates on their mortgages and their high yield checking accounts. I don't know what is happening now, but while other banks are increasing their rates on saving and checking accounts, Columbia has stayed at ridiculously low rates. Customer Service is also at an all time low. I received an Escrow Statement in Sept. 2022 telling me I would be getting a refund. After 4 weeks, I called to let them know I had not received it. I was told they would send it out on Nov. 1st. On Nov 7th, I called again. I was told I was "probably" on the 2nd batch of refunds being sent out. When I complained about the delay, they put me on hold for a while, only to get a nasty supervisor telling me I was not due a refund because I should have seen the statement was in error!! I never received a letter stating that nor was I sent a letter of apology for their error. Don't know if they've changed management but this bank is going downhill fast. I'll be taking my business someplace else.



Health Grade Components

FDIC Certificate #28834
Year Established1926
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.73%
Return on Equity - YTD7.84%
Annual Interest Income$91.0MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$10.31B$8.94B
LoansQ1 2023vs Q1 2022$7.56B$6.28B
DepositsQ1 2023vs Q1 2022$7.51B$7.47B
Equity CapitalQ1 2023vs Q1 2022$971.1MM$916.8MM
Loan Loss AllowanceQ1 2023vs Q1 2022$51.5MM$46.4MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$6.5MM$4.4MM
Real Estate OwnedQ1 2023vs Q1 2022$0$0
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Always verify rates and promotions with the bank or credit union. We are not Columbia Bank (NJ); 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.

† The rates for some products vary by region. In these cases we have listed the rates for the region closest to the bank's headquarters.

Columbia Bank (NJ) Savings Account Rates

5.15%$1-High-Yield Savings Account by Raisin
0.40%$10-Statement Savings
0.40%$100-Health Savings Account
0.40%$1-Kids Count Passbook
0.40%$1-Kids Count Statement

Columbia Bank (NJ) Money Market Rates

4.00%*$500k*-Yield Money Market
OTHER TIERS: 0.05% Up to $25k | 2.00% $25k - $50k | 3.25% $50k - $250k | 3.50% $250k - $500k
3.06%*$500k*-Business Money Market
OTHER TIERS: 0.25% Up to $50k | 0.50% $50k - $100k | 1.69% $100k - $250k | 2.18% $250k - $500k
1.00%*$2.5k*-Personal Money Market
OTHER TIERS: 0.10% $100 - $2.5k

Columbia Bank (NJ) Checking Account Rates

2.10%$10k$500kYield Plus Checking
2.00%*$250k*-Non-Profit Interest Checking
OTHER TIERS: 0.15% Up to $25k | 0.20% $25k - $50k | 1.00% $50k - $250k

Columbia Bank (NJ) CD Rates

5.30%--12 Month Advantage Plus CD - New Money
5.20%--12 Month CD Special - New Money
4.80%--18 Month CD
4.70%--9 Month CD
4.20%--4 Month CD
3.00%--24 Month CD
3.00%--36 Month CD
3.00%--60 Month CD
3.00%--72 Month CD
3.00%--20 Month Bump Up CD

Columbia Bank (NJ) IRA Rates

5.20%--12 Month IRA Special - New Money
4.80%--18 Month IRA
4.70%--9 Month IRA
4.20%--4 Month IRA
3.00%--24 Month IRA
3.00%--36 Month IRA
3.00%--60 Month IRA
3.00%--72 Month IRA


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