Freedom Bank (NJ)

Overview / Commentary

www.fbnj.com

201-599-3000

99 West Essex Street
Maywood, NJ 07607

Freedom Bank (NJ) is headquartered in Maywood and is the 32^nd largest bank in the state of New Jersey. It is also the 1,384^th largest bank in the nation. It was established in 2008 and as of June of 2022, it had grown to 51 employees at 5 locations. Freedom Bank (NJ)'s savings rates are 6X the national average, and it boasts an A+ health rating.

View all posts from:

2014

9/12 - Freedom Bank (NJ) Raises Rate on 12-17 Month CD - Local Only

Reviews (1)

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Very Impressed As A New Customer

Posted by: PIANOSTAR | Mar 18, 2020

Freedom Bank ( NJ ) was recommended to me through a friend. I went to www.depositaccounts.com
to do my homework on this particular bank. I was impressed with the Health Rating as well as the Texas Ratio both were A+ so I decided to open an account near me in a local branch. I called ahead and spoke with Kathleen and had a very pleasant conversation. She was very helpful over the phone and we met shortly after at the local branch. Upon entering I met Mary also very professional and pleasant to speak to and work with. This particular branch looked like new and was spotless! Everything was handled professionally and promptly ! So far So good. I look forward to a long relationship with this bank. Great rates / Professional people / Good Bank Health rating
are the ingredients for long time customer!
Cheers from New Jerseys premier Jazz Pianist / Entertainer : SD

Comment

Health

A+

Data as of Q2 2022

Learn why bank health matters

Health Grade Components

Overall
FDIC Certificate #	58712
Year Established	2008
Employees	51
Primary Regulator	FDIC

Profit Margin
Return on Assets - YTD	1.49%
Return on Equity - YTD	14.95%
Annual Interest Income	$13.5MM

Assets and Liabilities
Assets	Q2 2022vs Q2 2021	$654.2MM$611.1MM
Loans	Q2 2022vs Q2 2021	$545.8MM$496.4MM
Deposits	Q2 2022vs Q2 2021	$557.3MM$517.3MM
Equity Capital	Q2 2022vs Q2 2021	$64.7MM$57.8MM
Loan Loss Allowance	Q2 2022vs Q2 2021	$5.7MM$5.5MM
Unbacked Noncurrent Loans	Q2 2022vs Q2 2021	$1.0MM$3.0MM
Real Estate Owned	Q2 2022vs Q2 2021	$0$0

Rates

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Savings
Money Market
Checking
CD
IRA

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Always verify rates and promotions with the bank or credit union. We are not Freedom 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.

Freedom Bank (NJ) Savings Account Rates

APY	MIN	MAX	ACCOUNT NAME
3.00%^*	$500k^*	-	Freedom Savings Account
OTHER TIERS: 1.75% → Up to $100k \| 2.00% → $100k - $250k \| 2.25% → $250k - $500k
0.40%	-	-	High Yield Savings
0.15%	-	-	Statement Savings
0.15%	-	-	Minor Savings
0.15%	-	-	Business Savings

Freedom Bank (NJ) Money Market Rates

APY	MIN	MAX	ACCOUNT NAME
0.40%^*	$500k^*	-	Platinum Money Market Account
OTHER TIERS: 0.15% → Up to $250k \| 0.30% → $250k - $500k
0.25%	-	-	Small Business MMA
0.25%	-	-	Choice Money Market Account
0.25%	-	-	Choice Business MMA

Freedom Bank (NJ) Checking Account Rates

APY	MIN	MAX	ACCOUNT NAME
0.50%^*	$75k^*	-	Business Interest Checking
OTHER TIERS: 0.10% → $5k - $10k \| 0.25% → $10k - $25k \| 0.35% → $25k - $75k
0.25%	-	-	Now Account
0.25%	-	-	Senior Checking
0.25%	-	-	Business Now Checking

Freedom Bank (NJ) CD Rates

APY	MIN	MAX	ACCOUNT NAME
4.05%	$500	-	11 Month CD Special
4.05%	$500	-	17 Month CD Special
4.05%	$500	-	23 Month CD Special
0.65%	$500	-	24-35 Month CD
0.65%	$500	-	36-47 Month CD
0.65%	$500	-	48-59 Month CD
0.65%	$500	-	60 Month CD
0.65%	$500	$100k	36-47 Month Bump-Up CD
0.65%	$500	$100k	60 Month Bump-Up CD
0.40%	$500	-	23 Month Bump-Up CD
0.30%	$500	-	12-17 Month CD
0.30%	$500	-	18-23 Month CD
0.15%	$500	-	3-5 Month CD
0.15%	$500	-	6-11 Month CD

Freedom Bank (NJ) IRA Rates

APY	MIN	MAX	ACCOUNT NAME
1.80%	$500	-	23 Month Bump-Up IRA
0.65%	$500	-	36-47 Month IRA
0.65%	$500	-	48-59 Month IRA
0.65%	$500	-	60 Month IRA
0.65%	$500	-	36-47 Month Bump-Up IRA Promo - New Money
0.65%	$500	-	60 Month Bump-Up IRA Promo - New Money
0.40%	$500	-	24-35 Month IRA
0.30%	$500	-	12-17 Month IRA
0.30%	$500	-	18-23 Month IRA
0.15%	$500	-	3-5 Month IRA
0.15%	$500	-	6-11 Month IRA

Locations

Freedom Bank (NJ) Locations
Freedom Bank	99 W Essex St	Maywood, NJ 07607
Guttenberg Branch	6812 Park Avenue	Guttenberg, NJ 07093
Ridgewood Branch	375 Route 17 South	Ridgewood, NJ 07450
Mahwah Branch	380 Route 17 South	Mahwah, NJ 07430
Rutherford Commons	150 Route 17 North	East Rutherford, NJ 07073

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