ConnectOne Bank

Overview / Commentary
301 Sylvan Avenue
Englewood Cliffs, NJ 07632

ConnectOne Bank is headquartered in ENGLEWOOD CLIFFS and is the 6th largest bank in the state of New Jersey. It is also the 162nd largest bank in the nation. It was established in 2005 and as of June of 2023, it had grown to 523 employees at 24 locations. ConnectOne Bank's savings rates are 10X the national average, and it has a B+ health rating.

Related Posts

Connectone's Online Plus Savings Tippy Toes To 4.25% APY (Or 4.30% APY For $250,000.00+) - 4/11/2023

No monthly maintenance fees You must deposit $2,500.00 to open this account $0.00 - $2,499.99 - 0.00% $2,500.00 - $249,999.99 - 4.25% $250,000.00+ - 4.30%

ConnectOne Bank Adds Competitive 10-Month CD - 12/22/2022

ConnectOne Bank has brought back its nationally available 10-month CD with a competitive rate. $500 minimum deposit /$1 million maximum deposit.

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I'm Very Pleased With CONNECTONE.

Posted by: |

I opened two accounts (me and my wife) several months ago and have been very pleased with ConnectOne.

I've had absolutely no problems with opening accounts, funding the accounts, accessing funds, or managing my accounts.

And I think their Customer Service is EXEMPLARY.

I’ve had a couple of operational questions and: 1) I get a representative almost immediately and 2) that representative is polite, knowledgeable, professional, and genuinely helpful. They are just plain honest and will follow thru without question.

It’s almost like having a personal banker at the local office… maybe just more convenient.

Yes, they have a deposit limit of 250K (actually a max limit to earn interest), which could be a little inconvenient, but I think it represents just good banking (to minimize deposit base fluctuations). Fine in my book.

I wish them continued good going for the future.

Surprised By A Faulty Policy

Generally, I find this bank to be high quality. The representatives are courteous, professional and knowledgeable. However, i was surprised to learn a few months ago that Connect One does not notify current customers when they raise interest rates. Other banks, such as Marcus, raise the rate and apply it to your account and notify you. This bank does not apply the raised rate to a current account. In order to receive the higher rate, you must find out about it on your own, then you must close your current account and open a new account ( essentially the same type of savings account only the bank gives it a different name), transfer the money from your old account, and then the bank will give you the new rate. You must do this each time they raise rates, otherwise you keep the old, lower rate, while new accounts receive the higher rate. If you do not happen to be searching rates anyway, you do not even know that the bank is offering a higher rate. So if your account has x dollars, and someone opens a new account with x dollars, they receive the higher rate, and you do not unless you go through the exercise of closing and opening. Customer Service was nice enough to grant me a one time raise to the new rate, but they said in the future, to receive any of their higher rates ( on the same tier of savings!) you have to go through the steps. It seems unfair to me as I know of no other bank that excludes existing customers in the same tier as new account holders from higher rates.

Programmer Should Be Fired

Posted by: |

• When setting up log in, website requires password to include at least one special character, a list of acceptable special character is given. After typing in, website says certain special characters are not allowed, which were not used.
• After talking with two different CSRs, special characters cannot be used, period. Are you kidding me?
• Cannot log in after set up until following business day. Is that a joke?

Faulty Policy Redux

Posted by: |

The reviewers who are giving ConnectOne high marks are mostly new customers. ConnectOne gives new customers the higher, advertised rate for its online savings account while it gives existing customers a lower rate. I opened an online savings account at ConnectOne two or three years ago and was happy at first. Then they changed the name of the account and stopped giving me the higher, advertised APR. (I asked the CSR, "What's the difference between the online savings account I opened two or three years ago and the one people are opening today?" Her answer: "Nothing.") When I complained, they matched the higher rate they give new customers—but then lowered it after one month without notifying me. That, plus the fact that you can't initiate a withdrawal of more than $3K a day, led me to close my account and move my savings elsewhere.



Health Grade Components

FDIC Certificate #57919
Year Established2005
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.01%
Return on Equity - YTD8.16%
Annual Interest Income$237.4MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$9.72B$8.84B
LoansQ2 2023vs Q2 2022$8.06B$7.20B
DepositsQ2 2023vs Q2 2022$7.57B$6.73B
Equity CapitalQ2 2023vs Q2 2022$1.24B$1.15B
Loan Loss AllowanceQ2 2023vs Q2 2022$89.2MM$82.7MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$57.2MM$70.9MM
Real Estate OwnedQ2 2023vs Q2 2022$0$316.00K
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Always verify rates and promotions with the bank or credit union. We are not ConnectOne 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.

ConnectOne Bank Savings Account Rates

5.00%*$250k*-Connection Plus Savings - Online Only
OTHER TIERS: 4.90% $2.5k - $250k
0.05%--Statement Savings
0.05%--Business Savings

ConnectOne Bank Money Market Rates

3.50%*$25k*-Connect Money Market
OTHER TIERS: 3.40% Up to $25k
1.10%*$750k*-Business Impact Money Market
OTHER TIERS: 0.90% $2.5k - $50k | 1.00% $50k - $750k

ConnectOne Bank Checking Account Rates

0.05%$1k-Consumer Interest Checking
0.05%$1k-Business Interest Checking

ConnectOne Bank CD Rates

5.00%$500-13 Month CD
5.00%$500-Business 13 Month CD
4.90%$500-10 Month CD
3.80%$500-7 Month CD
3.80%$500-Business 7 Month CD
3.60%$500-Business 18 Month CD
3.60%$500-23 Month CD
3.60%$500-Business 23 Month CD
2.45%$500-Business 58 Month CD
2.35%$500-Business 46 Month CD
2.25%$500-Business 34 Month CD
0.50%$500-Business 24 Month CD
0.50%$500-Business 36 Month CD
0.50%$500-Business 48 Month CD
0.50%$500-Business 60 Month CD
0.25%$500-Business 90 Day CD
0.25%$500-Business 179 Day CD
0.25%$500-Business 6 Month CD
0.25%$500-Business 12 Month CD

ConnectOne Bank IRA Rates

5.00%$500-13 Month IRA
4.90%$500-10 Month IRA
3.80%$500-7 Month IRA
3.60%$500-23 Month IRA


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