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 7th largest credit union in the state of New Jersey. It is also the 799th largest credit union in the nation. It was established in 1968 and as of June of 2023, it had grown to 65 employees and 26,984 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 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

Related Posts

Garden Savings Federal 13-Month CD Special Has Rate-Leading APY - 7/10/2023

Garden Savings Federal Credit Union (easy membership in NJ, NY, PA) has brought back its 13-month CD Special with a rate-leading APY. Minimum $1k deposit of new money.

Garden Savings FCU Offering 13-Month Promo Certificate At 5.50% APY - 6/25/2023

This appears to be the same 13-month certificate they offered in December of last year, but 50 basis points higher than the former offer. In December, Ken indicated that Availability was "Easy Membership Requirement in NJ, NY, and PA", so I assume this will be the same for this offer. Here are a view details and the link. -$1,000 minimum opening deposit of new money from outside insitutions only. -Special Share Certificate Terms have additional conditions and terms such as dividends compound and are credited monthly. -Early withdrawal penalty is 180 days of dividends earned. -Will automatically renew to a reduced term of a month less than originally opened. Scroll down to "Special Promotional Share Certificates"

Garden Savings Federal Credit Union 13-Month Promo CD A Is Rate Leader - 12/27/2022

Garden Savings Federal Credit Union (easy membership in NJ, NY, and PA) has a rate-leading, limited-time 13-month Promotional CD. Minimum deposit is $5k of new money.

View all posts from:

11/7/18 - Garden Savings Federal Credit Union 4-Year CD APY Jumps
9/24/18 - Garden Savings Federal Credit Union Boosts 3-Year CD Rate
9/22/18 - 3-Year CD, 3.04% APY
12/4/17 - Limited Time 5-Year CD Special
11/2/17 - Garden Savings FCU Ups 5-Year CD Rate
11/1/17 - 5 Year CD & IRA, APY 2.53% (from 1.86% per DA), $500 Minimum
9/19/17 - Garden Savings FCU Has Nationally Available 2-Year CD
9/18/17 - 2.02% APY 2 Year CD Special, $500 Min
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 (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 - YTD0.79%
Return on Equity - YTD12.45%
Annual Interest Income$10.2MM
Assets and Liabilities
AssetsQ2 2023vs Q2 2022$426.0MM$413.0MM
LoansQ2 2023vs Q2 2022$307.6MM$278.7MM
DepositsQ2 2023vs Q2 2022$357.0MM$375.4MM
Equity CapitalQ2 2023vs Q2 2022$26.8MM$27.3MM
Loan Loss AllowanceQ2 2023vs Q2 2022$0$4.9MM
Unbacked Noncurrent LoansQ2 2023vs Q2 2022$2.0MM$3.2MM
Real Estate OwnedQ2 2023vs Q2 2022$0$0

Rates for Garden Savings Federal Credit Union are currently being reviewed.


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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