2. Liberty Savings Federal Credit Union

Liberty Savings Federal Credit Union

Popular Accounts at this Credit Union

APYACCOUNT TYPEHOW THEY COMPARE
2.10%6+ Year CD
2.19% - National Average
2.05%5-year CD
3.00% - American Express National Bank 60 Month CDAdvertisement
1.75%4-year CD
1.78% - National Average
View all Liberty Savings Federal Credit Union rates »

Overview / Commentary
lsfcu.org
201-659-3900
660 Newark Ave
Jersey City, NJ 07306-2379

Liberty Savings Federal Credit Union is headquartered in Jersey City and is the 29th largest credit union in the state of New Jersey. It is also the 1,647th largest credit union in the nation. It was established in 1951 and as of June of 2018, it had grown to 37 employees and 21,747 members at 3 locations. Liberty Savings Federal Credit Union's money market rates are 2X the national average, and it has an A health rating.

Field of Membership Restrictions

Membership in Liberty Savings Federal Credit Union is open to the following: (1) those who live, work, worship, or attend school in Hudson County in New Jersey; (2) employees of H M International Transportation, Jersey City Medical Center, Munchkin Village and over 100 Select Employer Groups.
See current membership details

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Reviews (9)

Wouldn't Bank Anywhere Else!

Posted by: SingleMom3 | Oct 11, 2016

It seems to me a lot of complaining from people who couldn't get a loan anywhere else because of their bad credit. I been a member with the credit union for more than 15 years and sometimes I have to wait a while to see a customer representative but that don't stop me from liking this bank. They the only bank who is making loans to our community. Aint no big banks doing that so I don't know why everyone is fussin about having to wait a few minutes to be seen at the branch.

1

Greatful Customer

Posted by: danaj518 | Nov 8, 2012

I have been a member of this credit union for 5 years. This credit union has helped me rebuild my credit & pay down a load of debt when no one else would. I would give them 5 stars except for the fact that I haven't been able to access my account online since Hurricane Sandy hit.

1

Online Rates Are Not Accurate

Posted by: Jeffmaster1 | Feb 16, 2012

I went into Liberty (Union City branch) to open up a 6 year CD on Feb 15, 2012 since the advertised rate was 2.85%, with an additional 0.1% if you invest $50,000 or more, and their surrender charge is only 3 months simple interest. You can also get another 0.15% if you have a checking account and qualify for silver status (combined assets of 10K). You can get another 0.05% or 0.1% if you have direct deposit and open up a credit card, which I didn't want.

I called on Friday Feb 10 to make sure that the rates were the same as the web site, because their web site states that the rates were effective as of last June, and I figured that the online rates were stale. The customer service rep confirmed the rates.

Unfortunately, when I arrived at the bank the posts rates were significantly lower: 2.1% for the 6 year CD. I still opened up the account with 50K and opened up a checking account with $25 to get the rate up to 2.35%, which is still good considering the low surrender fees- if you hold the CD for 1 year you still earn 1.77% after subtracting the surrender charge.

Regarding the previous posts- service was quite slow- there were two accounts reps at the branch, but both were chatting on the phone for 15 minutes before seeing me. The agent was quite nice however, but I can see them being low tech.

As for the 2 IDs, their membership application specifically states one form of ID if it is a driver's license; for some other IDs, including a passport, it states you need to prove your address with another ID, which makes sense since one of the ways to join the credit union is to be a resident of Hudson county. I opened with a passport but I had my utility bill with me and it was fine. After you join any family member can join through the mail.

If you live in Northern NJ the CD rates are competitive- but don't open anything less than the 5 year since even with the surrenders you will earn more than any of the lower term CDs.

Hope that helps

 

6

Mrs. Unsatisfied

Posted by: ChicolateAngel | Dec 13, 2015

I have been A member well over 8 years I have always been pleased with Liberty service. Until oneday I was disrespected by The manager Angelina who works out of the Greenville location until January 1, 2016. Mrs. A is bias & she discriminates if your not a Hispanic male you will not be serviced even if your on the list, she will skip you. How did Mrs. A become a manager? Who knows she is incompetent, she had limited knowledge of the loan process. Mrs. A arrives to work late and leaves early, she is arrogant rude & has a very nasty disposition. I am unhappy with how I was treated and I'm considering closing my accounts and joining another credit union.
I made complaints through the proper channels and no action had been taking.

2
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Health
A

Data as of Q2 2018

Learn why bank health matters
Additional Factors: Institutions with a small asset base, a short operating history, or negative return on assets can represent an instability risk beyond what their financial ratios indicate. Liberty Savings Federal Credit Union has a relatively low asset base.

Health Grade Components

Overall
NCUA #7184
Year Chartered1951
Employees37
Primary Regulator
Profit Margin
Return on Assets - YTD0.9%
Return on Equity - YTD8.01%
Annual Interest Income$2.8MM
Assets and Liabilities
AssetsQ2 2018vs Q2 2017$96.7MM$92.0MM
LoansQ2 2018vs Q2 2017$45.2MM$50.2MM
DepositsQ2 2018vs Q2 2017$84.5MM$80.5MM
Equity CapitalQ2 2018vs Q2 2017$11.0MM$10.3MM
Loan Loss AllowanceQ2 2018vs Q2 2017$1.8MM$2.2MM
Unbacked Noncurrent LoansQ2 2018vs Q2 2017$1.1MM$1.7MM
Real Estate OwnedQ2 2018vs Q2 2017$0$0
Rates
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* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Liberty Savings Federal Credit Union Savings Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$501-Savings Account
0.10%$200-Holiday Club
0.10%$200-Vacation Club
0.10%$500-IRA Savings
0.10%--HSA Account

Liberty Savings Federal Credit Union Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%*$50k*-Money Market Account
OTHER TIERS: 0.60% → $2.5k - $10k | 0.75% → $10k - $50k

Liberty Savings Federal Credit Union CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.10%*$5k*-72 Month CD
OTHER TIERS: 2.00% → $500 - $5k
2.08%*$5k*-66 Month CD
OTHER TIERS: 1.98% → $500 - $5k
2.05%*$5k*-60 Month CD
OTHER TIERS: 1.95% → $500 - $5k
1.80%*$5k*-54 Month CD
OTHER TIERS: 1.70% → $500 - $5k
1.75%*$5k*-48 Month CD
OTHER TIERS: 1.65% → $500 - $5k
1.65%*$5k*-42 Month CD
OTHER TIERS: 1.55% → $500 - $5k
1.60%*$5k*-36 Month CD
OTHER TIERS: 1.50% → $500 - $5k
1.52%*$5k*-30 Month CD
OTHER TIERS: 1.43% → $500 - $5k
1.50%*$5k*-24 Month CD
OTHER TIERS: 1.40% → $500 - $5k
1.45%*$5k*-18 Month CD
OTHER TIERS: 1.35% → $500 - $5k
1.40%*$5k*-12 Month CD
OTHER TIERS: 1.30% → $500 - $5k
0.70%*$5k*-6 Month CD
OTHER TIERS: 0.60% → $500 - $5k

Liberty Savings Federal Credit Union IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.10%*$5k*-72 Month IRA
OTHER TIERS: 2.00% → $500 - $5k
2.08%*$5k*-66 Month IRA
OTHER TIERS: 1.98% → $500 - $5k
2.05%*$5k*-60 Month IRA
OTHER TIERS: 1.95% → $500 - $5k
1.80%*$5k*-54 Month IRA
OTHER TIERS: 1.70% → $500 - $5k
1.75%*$5k*-48 Month IRA
OTHER TIERS: 1.65% → $500 - $5k
1.65%*$5k*-42 Month IRA
OTHER TIERS: 1.55% → $500 - $5k
1.60%*$5k*-36 Month IRA
OTHER TIERS: 1.50% → $500 - $5k
1.52%*$5k*-30 Month IRA
OTHER TIERS: 1.43% → $500 - $5k
1.50%*$5k*-24 Month IRA
OTHER TIERS: 1.40% → $500 - $5k
1.45%*$5k*-18 Month IRA
OTHER TIERS: 1.35% → $500 - $5k
1.40%*$5k*-12 Month IRA
OTHER TIERS: 1.30% → $500 - $5k
0.70%*$5k*-6 Month IRA
OTHER TIERS: 0.60% → $500 - $5k
Locations


Liberty Savings Federal Credit Union Locations
Branch Office108 48th StUnion City, NJ 07087
Branch Office1590 Kennedy Blvd.Jersey City, NJ 07305
Branch Office660 Newark AveJersey City, NJ 07306-2379

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