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 161st largest bank in the nation. It was established in 2005 and as of March of 2023, it had grown to 511 employees at 24 locations. ConnectOne Bank's savings rates are 8X 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.

Connection Plus Savings Reaches As High As 4.00% APY ($250,000 +) - 12/2/2022

Connection Plus Savings $0.00 - $2,499.99 0.00% APY 0.00% $2,500.00 - $249,999.99 3.90%A PY 3.82% $250,000.00+ 4.00% APY 3.92%

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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?

Was Thinking About It, But....

Great current rate, but according to their webpage, if you decide to cash out a CD upon maturity, they send you a check in the mail. If you have another account with them, you can dump the principal into that account. Perhaps this is a common practice, but I'd rather not have any large checks floating around in any of the mail services. Would be nice if you could ACH it back to your original bank.



Health Grade Components

FDIC Certificate #57919
Year Established2005
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD1.1%
Return on Equity - YTD9.03%
Annual Interest Income$116.1MM
Assets and Liabilities
AssetsQ1 2023vs Q1 2022$9.96B$8.33B
LoansQ1 2023vs Q1 2022$8.06B$6.90B
DepositsQ1 2023vs Q1 2022$7.79B$6.69B
Equity CapitalQ1 2023vs Q1 2022$1.20B$1.13B
Loan Loss AllowanceQ1 2023vs Q1 2022$87.0MM$80.1MM
Unbacked Noncurrent LoansQ1 2023vs Q1 2022$47.7MM$71.8MM
Real Estate OwnedQ1 2023vs Q1 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

4.30%*$250k*-Connection Plus Savings - Online Only
OTHER TIERS: 4.25% $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

4.90%$500-10 Month CD
4.50%$500-13 Month CD
4.50%$500-Business 13 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

4.90%$500-10 Month IRA
4.50%$500-13 Month IRA
3.80%$500-7 Month IRA
3.60%$500-23 Month IRA


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