Garden Savings Federal Credit Union
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 813th largest credit union in the nation. It was established in 1968 and as of December of 2024, it had grown to 65 employees and 24,744 members at 6 locations. Garden Savings Federal Credit Union has a C+ 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
Poor Customer Service
Conflicting information from customer support from what is posted on the website. Customer service not timely responding back to customers
Data as of Q4 2024
Learn why bank health mattersHealth Grade Components
| Overall | |
|---|---|
| NCUA # | 18710 |
| Year Chartered | 1968 |
| Employees | 65 |
| Primary Regulator | |
| Profit Margin | |
|---|---|
| Return on Assets - YTD | -0.68% |
| Return on Equity - YTD | -10.73% |
| Annual Interest Income | $22.8MM |
| Assets and Liabilities | ||
|---|---|---|
| Assets | Q4 2024vs Q4 2023 | $429.5MM$433MM |
| Loans | Q4 2024vs Q4 2023 | $307.8MM$313.3MM |
| Deposits | Q4 2024vs Q4 2023 | $363.1MM$370MM |
| Equity Capital | Q4 2024vs Q4 2023 | $27.6MM$28.8MM |
| Loan Loss Allowance | Q4 2024vs Q4 2023 | $4.7MM$5.1MM |
| Unbacked Noncurrent Loans | Q4 2024vs Q4 2023 | $3.6MM$2.7MM |
| Real Estate Owned | Q4 2024vs Q4 2023 | $0$0 |