Cross River Bank

PPP Mvps! Helping The Small Business Owners During Tough Times

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This bank was a savior for me. I am a small business owner and the bank that I had my business account with (Great Western Bank) turned me away after day 3 of the PPP loan application process being open in 2020. I would have been absolutely out of luck if Cross River didn't offer these services to out-of-network customers like myself. I had never heard of this bank before but they were absolutely incredible at handling my PPP loan and forgiveness. I cannot thank them enough. I opened an account on this website just to write this review; that's how thankful I am. TRUE MVP's! Thank you for helping this small business owner!

Not A New Bank, Branch Visit No Longer Required

I opened my first CD with Cross River in 2012. Have had several since, all with great rates & no issues. They did require a branch visit (Teaneck, NJ) till the pandemic hit. Now you can open one by phone & email. I just opened their 2-year at 2.1%. Very easy and their customer service is good, especially under current conditions. I should note:
-I was already a customer so I was able to skip a few steps.
-CD must be funded by check or wire transfer. They don't charge for wire transfer but your bank probably will (Chase charged me $25.) If you mail a check, they don't lock your rate until they get the check. (Unlike online banks that usually let you open the CD & lock the rate, then give you 10 days to fund it.) Worth the $25 to lock the rate instantly.
-Their website isn't awesome but who cares? Their reps are very helpful by phone, & emails get a surprisingly fast response (mine were within an hour).
-Rate page:
-Phone: 1-877-55CRB55 or (201) 808-7000.

Ppp Is A Hoax

I keep calling to understand why I owe them money, but the loan was forgiven. Put on hold and no one ever knows what is going on I am sure they just took the money and spent it. Their PPP was a scam.

Great With PPP Would Try Them For Savings

Posted by: |

Cross River did a great and speedy job processing my PPP, my friend had a great experience too. Based on this I would give them a shot for banking.



Data as of Q2 2022

Capitalization grade does not factor in PPP loans and the use of the PPP Liquidity Facility.
Learn why bank health matters

Health Grade Components

FDIC Certificate #58410
Year Established2008
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD2.17%
Return on Equity - YTD24.77%
Annual Interest Income$280.5MM
Assets and Liabilities
AssetsQ2 2022vs Q2 2021$8.55B$14.32B
LoansQ2 2022vs Q2 2021$7.17B$13.43B
DepositsQ2 2022vs Q2 2021$4.63B$3.48B
Equity CapitalQ2 2022vs Q2 2021$815.4MM$527.5MM
Loan Loss AllowanceQ2 2022vs Q2 2021$56.3MM$33.1MM
Unbacked Noncurrent LoansQ2 2022vs Q2 2021$17.4MM$9.3MM
Real Estate OwnedQ2 2022vs Q2 2021$0$0
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Cross River Bank Savings Account Rates

2.60%--I Connect Savings
2.60%--Prestige Business Tiered Savings
2.60%--E Connect Savings
2.60%--I Connect Select Savings
2.60%--E Connect Select Savings

Cross River Bank Money Market Rates

0.25%--Money Market Account
0.25%--E Money Market Account
0.07%--Business Prestige Money Market Checking

Cross River Bank Checking Account Rates

0.10%--I Connect Select Checking
0.10%--Attorney Trust Escrow
0.10%--E Connect Select Checking
0.07%--NJ IOLTA Checking

Cross River Bank CD Rates

2.25%$500-18 Month CD
2.25%$500-Business 18 Month CD
2.15%$500-24 Month CD
2.15%$500-Business 24 Month CD
2.00%$500-12 Month CD
2.00%$500-36 Month CD
2.00%$500-Business 12 Month CD
2.00%$500-Business 36 Month CD
1.50%$500-48 Month CD
1.50%$500-Business 48 Month CD
1.45%$500-9 Month CD
1.45%$500-Business 9 Month CD
1.05%$500-6 Month CD
1.05%$500-Business 6 Month CD
0.60%$500-3 Month CD
0.60%$500-Business 3 Month CD

Cross River Bank Locations
Cross River Bank885 Teaneck RdTeaneck, NJ 07666
Brooklyn Branch Office2365 Nostrand Avenue Suite BBrooklyn, NY 11210

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