Columbia Bank (NJ)


Overview / Commentary
201-794-5840
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

Posted by: |

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

Posted by: |

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

Posted by: |

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.

Privacy Policies Not Followed

Posted by: |

I recently filled out an application online for a mortgage prequalification. I submitted all my documents electronically. The loan officer, Nuno Poitevin NMLS ID# 223216 was the agent assigned to my application. Two days past and I had yet to hear from the bank, however, the real estate agent contacted me to disclose very detailed, personal information about my application, and my credit report. I asked the agent is this how the bank handles customer sensitive information, and she was quick to back track explaining that herself and Nuno. very closely together and that the bank representative had contacted her to inform her that my loan could not be honored. I asked the agent if the bank doesn’t follow their privacy guidelines, as I, the client, had not heard directly from Nuno, yet she had all my information. Shortly after I got off the phone with the real estate agent, I received a casual text message from Nuno just saying hello. I replied the next day, hoping that he’d pick up the phone and handle the interaction professionally, but to no avail. While it’s unfortunate that I was not able to meet the requirements at this time, Nuno was not professional to reach out and discuss the information directly with me. In my opinion this bank does not follow their privacy policies and one’s personal information can be shared with whom ever they choose. I would not recommend them as a secure financial institution.

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Health
B+

Health Grade Components

Overall
FDIC Certificate #28834
Year Established1926
Employees724
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.35%
Return on Equity - YTD3.8%
Annual Interest Income$386.5MM
Assets and Liabilities
AssetsQ4 2023vs Q4 2022$10.34B$10.09B
LoansQ4 2023vs Q4 2022$7.65B$7.46B
DepositsQ4 2023vs Q4 2022$7.71B$7.89B
Equity CapitalQ4 2023vs Q4 2022$956.8MM$938.3MM
Loan Loss AllowanceQ4 2023vs Q4 2022$53.7MM$51.5MM
Unbacked Noncurrent LoansQ4 2023vs Q4 2022$12.8MM$6.7MM
Real Estate OwnedQ4 2023vs Q4 2022$0$0
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.85%$10-Statement Savings
0.85%$1-Kids Count Passbook
0.85%$1-Kids Count Statement
0.40%$100-Health Savings Account

Columbia Bank (NJ) Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
3.50%*$500k*-Yield Money Market
OTHER TIERS: 0.05% Up to $25k | 2.00% $25k - $50k | 3.00% $50k - $250k | 3.25% $250k - $500k
2.72%*$500k*-Business Money Market
OTHER TIERS: 0.25% Up to $50k | 0.50% $50k - $100k | 1.59% $100k - $250k | 1.98% $250k - $500k
1.00%*$2.5k*-Personal Money Market
OTHER TIERS: 0.10% $100 - $2.5k

Columbia Bank (NJ) Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.00%*$250k*-Non-Profit Interest Checking
OTHER TIERS: 0.15% Up to $25k | 0.20% $25k - $50k | 1.00% $50k - $250k
1.95%*$10k*$500kYield Plus Checking
OTHER TIERS: 0.05% Up to $1k | 0.10% $1k+

Columbia Bank (NJ) CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%--12 Month Advantage Plus CD Special
4.25%--12 Month CD
4.00%$500-24 Month AP CD Special
3.85%--182 Day CD
3.75%--24 Month CD
3.50%--9 Month CD
3.50%--14 Month CD
3.50%--18 Month CD
3.20%--91 Day CD
3.00%--36 Month CD
3.00%--48 Month CD
3.00%--60 Month CD

Columbia Bank (NJ) IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
4.50%--12 Month IRA
4.00%--24 Month IRA
3.85%--182 Day IRA
3.50%--9 Month IRA
3.50%--14 Month IRA
3.50%--18 Month IRA
3.20%--91 Day IRA
3.00%--36 Month IRA
3.00%--60 Month IRA
Locations

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