Garden Savings Federal Credit Union

Overview / Commentary
129 Littleton Rd
Parsippany, NJ 07054-1869

Garden Savings Federal Credit Union is headquartered in Parsippany and is the 8th largest credit union in the state of New Jersey. It is also the 810th largest credit union in the nation. It was established in 1968 and as of March of 2024, it had grown to 63 employees and 25,287 members at 4 locations. Garden Savings Federal Credit Union's money market rates are 9X the national average, and it has a B health rating.

Field of Membership Restrictions

Membership in Garden Savings Federal Credit Union is open to residents of New Jersey, New York, and Pennsylvania through membership in the American Consumer Council. Membership is also open to those who live, work, worship, attend school, volunteer, or regularly conduct business in the New Jersey cities of Newark, Elizabeth, or Jersey City. Employees of General Dynamics Advanced Information Systems, Bellco Laboratories, and more than 170 Select Employer Groups also qualify for membership. Immediate family members of anyone eligible to join, also qualify for membership.
See current membership details

Reviews (4)

Positve Experience Overall

Posted by: |

Just closed a cd and had to bank wire the funds to the other bank. No ACH transfer for that amount. Good customer service. 6 month early withdrawal penalty on a 5 year cd.
Overall satisfied with them except for the ACH transfer issues.

Poor Customer Service

Posted by: |

Conflicting information from customer support from what is posted on the website. Customer service not timely responding back to customers

Waste Of Time....At Best

Posted by: |

And possibly deceptive at worst.

Not unlike the first poster above, I had a similar experience. Despite sending and providing all my information it took GSFCU a good 4-5 days to process my initial application.

I got a call from one of their reps to let me know i'd been approved only to then be informed the 4-year high rate CD promotion was no longer available.

I question whether it was ever really available or if it was just a bad combination of trolling for new money and/or attention.

I will not do business with this bank again and am frankly disinclined to waste much time in search of high yields when these practices are far from uncommon.

Total Waste Of Time!

Posted by: |

As soon as I found out about your 4.08% APY 4 year CD I have applied online on November 7th. Though I've forgot to attach my DL picture at first I had been informed of that and I had provided all the necessary information next day.
A few days later when I saw the $5 withdraw from my bank account I figured out that I became FCU member but then the high APY CD was gone already (after 7-10 days!). I've tried to find out via phone and e-mail from Jennifer Garcia (rep) if I still can have the 4.08% CD but no answer either 24 hours nor days later.
However a few days later I've got a link for funds verification process, When I went through that,on the last p age I've got informed that FCU will fund 5 year CD. It's not what I've applied for 10 days ago! At the time they had 4.08% 4 year CD and I wanted to have it,
Since it was not available anymore I had to request to cancel the transfer.
So I went through all the hassle for nothing, totally wasted my time!!!
I'm really disappointed in their application process and customer service.
Seems like if you are not a member don't even bother because until you get approved the high rate probably will be gone!


Health Grade Components

NCUA #18710
Year Chartered1968
Primary Regulator
Profit Margin
Return on Assets - YTD-0.29%
Return on Equity - YTD-4.38%
Annual Interest Income$5.7MM
Assets and Liabilities
AssetsQ1 2024vs Q1 2023$429.5MM$417.7MM
LoansQ1 2024vs Q1 2023$312.2MM$295.8MM
DepositsQ1 2024vs Q1 2023$368.8MM$361.7MM
Equity CapitalQ1 2024vs Q1 2023$28.2MM$27.5MM
Loan Loss AllowanceQ1 2024vs Q1 2023$4.9MM$5MM
Unbacked Noncurrent LoansQ1 2024vs Q1 2023$2MM$2.1MM
Real Estate OwnedQ1 2024vs Q1 2023$0$0
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Always verify rates and promotions with the bank or credit union. We are not Garden Savings Federal Credit Union; 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.

Garden Savings Federal Credit Union Savings Account Rates

4.07%*$0$15kAccelerate Savings
OTHER TIERS: 1.00% $15k+
0.60%*$40k*-IRA Accumulator
OTHER TIERS: 0.50% $0 - $40k
0.50%$0-Kids Club Account
0.50%$0-Holiday Club
0.50%*$2.5k*-High Yield Savings
OTHER TIERS: 0.30% $1k - $2.5k
0.10%$0-Vacation Club
0.05%$250-Member Savings
0.05%$0-Business Savings

Garden Savings Federal Credit Union Money Market Rates

4.00%*$1m*-Platinum Money Market
OTHER TIERS: 1.50% $10k - $50k | 1.75% $50k - $100k | 2.00% $100k - $200k | 2.25% $200k - $250k | 2.75% $250k - $500k | 3.00% $500k - $1m
1.00%*$50k*-Money Market
OTHER TIERS: 0.50% $1k - $15k | 0.55% $15k - $30k | 0.65% $30k - $50k
0.70%*$500k*-Business Money Market
OTHER TIERS: 0.30% $10k - $50k | 0.40% $50k - $100k | 0.45% $100k - $200k | 0.50% $200k - $500k

Garden Savings Federal Credit Union Checking Account Rates

5.12%*$0$15kPlatinum Checking
OTHER TIERS: 0.15% $15k+
0.20%$750-Senior Advantage Checkinig
0.15%$0-Better Business Checking
0.05%$750-Student Account
0.05%$750-Teen Checking
0.05%$750-Silver Checking
0.05%$0-SHU Pirate Pride Checking

Garden Savings Federal Credit Union CD Rates

4.50%$500-5 Month Share Certificate
4.50%$500-6 Month Share Certificate
4.50%$500-7 Month Share Certificate
4.50%$500-8 Month Share Certificate
4.50%$500-12 Month Share Certificate
4.50%$500-18 Month Share Certificate
4.50%$500-9 Month Share Certificate Special
4.35%$500-1 Year Flex-Rate Share Certificate
3.75%$500-2 Year Share Certificate
3.75%$500-3 Year Share Certificate
3.75%$500-4 Year Share Certificate
3.75%$500-5 Year Share Certificate
3.60%$500-2 Year Flex-Rate Share Certificate
3.60%$500-3 Year Flex-Rate Share Certificate
1.75%$500-3 Month Share Certificate
1.75%$500-4 Month Share Certificate
0.30%$500-30 Day Share Certificate

Garden Savings Federal Credit Union IRA Rates

4.50%$500-5 Month IRA Share Certificate
4.50%$500-6 Month IRA Share Certificate
4.50%$500-7 Month IRA Share Certificate
4.50%$500-8 Month IRA Share Certificate
4.50%$500-12 Month IRA Share Certificate
4.50%$500-18 Month IRA Share Certificate
4.50%$500-9 Month IRA Share Certificate Special
4.35%$500-1 Year Flex-Rate IRA Share Certificate
3.75%$500-3 Year IRA Share Certificate
3.75%$500-4 Year IRA Share Certificate
3.75%$500-5 Year IRA Share Certificate
3.75%$500-2 Year IRA Share Certificate
3.60%$500-2 Year Flex-Rate IRA Share Certificate
3.60%$500-3 Year Flex-Rate IRA Share Certificate
1.75%$500-3 Month IRA Share Certificate
1.75%$500-4 Month IRA Share Certificate
0.30%$500-30 Day IRA Share Certificate

Garden Savings Federal Credit Union Locations
Branch Office120 Ferry StNewark, NJ 07105
Branch Office23 Prospect StDover, NJ 07801
Branch Office129 Littleton RdParsippany, NJ 07054-1869
Branch Office15 Scotland RdSouth Orange, NJ 07079

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