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Garden Savings Federal Credit Union


Overview / Commentary
www.gardensavingsfcu.org
973-576-2000
129 Littleton Rd
Parsippany, NJ 07054-1869

Garden Savings Federal Credit Union is headquartered in Parsippany and is the 7th largest credit union in the state of New Jersey. It is also the 764th largest credit union in the nation. It was established in 1968 and as of September of 2021, it had grown to 68 employees and 27,033 members at 4 locations. Garden Savings Federal Credit Union has a B+ health rating.

Field of Membership Restrictions

Membership in Garden Savings Federal Credit Union is open to anyone through joining the American Consumer Council. Membership is also open to the following: (1) those who live, work, worship, attend school, volunteer, or regularly conduct business in Newark, Elizabeth, or Jersey City, New Jersey; (2) employees of General Dynamics Advanced Information Systems, Bellco Laboratories, or over 200 Select Employer Groups; (3) immediate family members of anyone eligible.
See current membership details

Related Posts

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10/8/16 - 5 Year 2.28% CD
9/27/16 - Garden Savings FCU (Easy Membership) Hikes CD Rates
9/24/16 - 12, 18, And 24 Month CD Rate Increase
8/27/15 - Garden Savings FCU Raises Rates On 2-Year and 5-Year CDs
12/4/14 - Garden Savings FCU Raises Rate On 9-Month CD - Nationally Available
4/1/14 - Garden Savings FCU Rate Drops
3/11/14 - Top Promotional CD Rates at Garden Savings FCU in New Jersey
3/10/14 - 2.53% 5 Yr CD At Garden Savings FCU
8/28/13 - Promotional 2-year CD Rate at Garden Savings FCU in New Jersey
6/25/13 - Competitive 6-Month CD Rate at Garden Savings FCU in New Jersey
9/15/11 - Competitive 5-Year CD Rate at Garden Savings FCU in New Jersey - Easy Membership
5/14/11 - Garden Savings FCU
3/24/11 - Competitive Long-Term CD Rates at Garden Savings FCU in New Jersey - Easy Membership
9/22/10 - Top Long-Term CD Rates at Garden Savings FCU in New Jersey - Easy Membership
5/6/10 - One Day Left for 3% 3-Month CD Special at Newark Branch of Garden Savings FCU
5/5/10 - The Newark NJ Branch Of Garden Savings FCU Is Having A Grand Opening Celebration Today
3/31/10 - 3.75% 48-Month CD at Garden Savings FCU in New Jersey - Local Only
12/5/08 - 4.00% 5-Month CD at Garden Savings FCU in New Jersey
6/17/08 - 5.00% 60-Month CD at a New Jersey CU (Garden Savings)
5/28/08 - 4.33% 36-Month / 4.59% 48-Month CD at a New Jersey CU (Garden Savings)
1/26/08 - 5.12% 18-Month / 5.12% 36-Month CD at a New Jersey CU (Garden Savings).
1/12/08 - 5.33% 60-Month / 5.12% 12-Month CD at a New Jersey CU (Garden Savings).
9/14/07 - 5.75% 7-Month CD at a New Jersey CU (Garden Savings)

Reviews (3)

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.

3

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.

5

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!

5


Health
B+

Data as of Q3 2021

Learn why bank health matters

Health Grade Components

Overall
NCUA #18710
Year Chartered1968
Employees68
Primary Regulator
Profit Margin
Return on Assets - YTD0.69%
Return on Equity - YTD8.52%
Annual Interest Income$12.7MM
Assets and Liabilities
AssetsQ3 2021vs Q3 2020$429.6MM$408.8MM
LoansQ3 2021vs Q3 2020$272.1MM$278.1MM
DepositsQ3 2021vs Q3 2020$391.5MM$370.9MM
Equity CapitalQ3 2021vs Q3 2020$34.6MM$33.7MM
Loan Loss AllowanceQ3 2021vs Q3 2020$4.8MM$5.4MM
Unbacked Noncurrent LoansQ3 2021vs Q3 2020$3.3MM$2.6MM
Real Estate OwnedQ3 2021vs Q3 2020$1.0MM$324.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.60%*$40k*-IRA Accumulator
OTHER TIERS: 0.50% → Up to $40k
0.50%--Kids Club Account
0.50%--Holiday Club
0.15%*$2.5k*-High Yield Savings
OTHER TIERS: 0.10% → $1k - $2.5k
0.10%--Vacation Club
0.05%$250-Member Savings

Garden Savings Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.70%*$500k*-Business Money Market
OTHER TIERS: 0.30% → $10k - $50k | 0.40% → $50k - $100k | 0.45% → $100k - $200k | 0.50% → $200k - $500k
0.30%*$100k*-Platinum Money Market
OTHER TIERS: 0.20% → $10k - $50k | 0.25% → $50k - $100k
0.20%*$15k*-Money Market
OTHER TIERS: 0.15% → $1k - $15k

Garden Savings Federal Credit Union Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%*-$15kPlatinum Checking
OTHER TIERS: 0.15% → $15k+
0.20%$750-Senior Advantage Checkinig
0.05%$750-Student Account
0.05%$750-Teen Checking
0.05%$750-Silver Checking
0.05%--SHU Pirate Pride Checking

Garden Savings Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%$500-5 Year Share Certificate
0.65%$500-4 Year Share Certificate
0.55%$500-3 Year Share Certificate
0.50%$500-3 Year Flex-Rate Share Certificate
0.45%$500-2 Year Share Certificate
0.40%$500-18 Month Share Certificate
0.40%$500-2 Year Flex-Rate Share Certificate
0.35%$500-12 Month Share Certificate
0.30%$500-9 Month Share Certificate
0.30%$500-1 Year Flex-Rate Share Certificate
0.25%$500-6 Month Share Certificate
0.25%$500-7 Month Share Certificate
0.25%$500-8 Month Share Certificate
0.20%$500-3 Month Share Certificate
0.20%$500-4 Month Share Certificate
0.20%$500-5 Month Share Certificate
0.05%$500-30 Day Share Certificate

Garden Savings Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.75%$500-5 Year IRA Share Certificate
0.65%$500-4 Year IRA Share Certificate
0.55%$500-3 Year IRA Share Certificate
0.50%$500-3 Year Flex-Rate IRA Share Certificate
0.45%$500-2 Year IRA Share Certificate
0.40%$500-18 Month IRA Share Certificate
0.40%$500-2 Year Flex-Rate IRA Share Certificate
0.35%$500-12 Month IRA Share Certificate
0.30%$500-9 Month IRA Share Certificate
0.30%$500-1 Year Flex-Rate IRA Share Certificate
0.25%$500-6 Month IRA Share Certificate
0.25%$500-7 Month IRA Share Certificate
0.25%$500-8 Month IRA Share Certificate
0.20%$500-3 Month IRA Share Certificate
0.20%$500-4 Month IRA Share Certificate
0.20%$500-5 Month IRA Share Certificate
0.05%$500-30 Day IRA Share Certificate
Locations


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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