Lincoln 1st Bank (NJ) Offers 18-Month Variable Rate CD


Availability: Market area is northern New Jersey.

Earlier this month, the newly re-branded Lincoln 1st Bank (formerly Lincoln Park Savings Bank) added an 18-month Variable Rate CD (1.65% APY) to its product line.

The minimum deposit is $5k, and while no balance cap is mentioned, the promotional page does state, "FDIC insured up to $250,000." As many DA readers know, there are several ways to extend FDIC coverage over $250k.

1.50%$5k-Lincoln 1st Bank18 Month CD
Accounts mentioned in this post. Rates as of December 10, 2016.

Variable CD rates are frequently tied to a such determinants as prime rate, consumer price index, treasury bills, or market index. Lincoln 1st Bank’s 18-month Variable Rate CD takes a different approach:

Disclosed APY requires that you maintain a Lincoln 1st Bank Access Checking account with one (1) or more direct deposits totaling $500.00 or more during the month.

The disclosed APY will be applied for the month(s) following any month in which these conditions are met.

The disclosed APY will be reduced by 0.50% for any month(s) in which these conditions were not met during the preceding month.

According to CSR, the Early Withdrawal Penalty on the 18-month Variable Rate CD is "six months of interest on the amount being withdrawn." CSR also stated that the Direct Deposit needs to be a "payroll or Social Security payment."


Lincoln 1st Bank is located in Morris County, New Jersey, which is the sixth-wealthiest county in the United States by median household income. While the Bank’s market area is northern New Jersey, more than 90% of its customers are from the Lincoln Park, Pequannock, Montville and Wayne area.

Opening any type of account (including the 18-month CD) with Lincoln 1st Banks must be done in person at either of two New Jersey branches, located in Lincoln Park and Montville. The Bank's online platform is currently dedicated to account management and bill payment services.

Bank Overview

Lincoln 1st Bank (FDIC Certificate # 28963) has an overall health grade of "C+" at, with a Texas Ratio of 26.45% (average) as of December 31, 2015. In the past year, Lincoln 1st Bank has increased its total deposit by $19.01 Million, an excellent annual growth rate of 17.25%. Please refer to our financial overview of Lincoln 1st Bank for more details.

Established in 1922 as the Lincoln Park Savings and Loan Association, the newly-minted Lincoln 1st Bank is in the process of re-branding, having been known as the Lincoln Park Savings Bank for the past 12 years. According to David G. Baker, President and CEO, the Bank's new name and tagline – Your Bank. Your Neighbor. – reflects its continuing commitment to furthering the financial goals of its customers.

How the CD Compares

When compared to the 189 similar length-of-term CDs tracked by that require a similar minimum deposit and are available to New Jersey residents, Lincoln 1st Bank’s 18-month Variable Rate CD APY currently ranks first.

The above rates are accurate as of 4/22/2016.

To look for the best CD rates, both nationwide and in your state, please refer to our CD rates table, or our new Rates Map page.

Lincoln Park Savings Bank (NJ) Raises Rate On 5-Year CD
Availability: Market area is Morris County, New Jersey

New Jersey’s Lincoln Park Savings Bank recently raised the rate on its 5-year CD (2.25% APY). This is the highest rate in almost four years for the 5-year CD. In those four years, there have been 12 rate changes, with APYs ranging from a low of 1.16% (July 2011) to the current high of 2.25%.

The minimum opening deposit is $500, with no maximum balance cap. The 5-year CD is also available as an IRA (Traditional, Roth, and CESA)...

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Top CD Rates in New Jersey at Lincoln Park Savings Bank - Local Only

If you don’t want to lock your money into a long-term CD when there are signs that rates may be on the rise, you’ll probably prefer short-term CDs. The problem with most short-term CDs is that you often can get higher rates with just an internet savings account. That’s not the case with Lincoln Park Savings Bank which has a 7-month CD special with a 1.10% APY. Minimum deposit is $5,000. The bank also has top rates on its standard long-term CDs. These include a 2.00% APY 5-year CD, a...

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4.80% 24-Month CD at Lincoln Park Savings Bank in Chicago
Update 9/25/08: These special CDs are no longer listed on the bank's website. Please check the bank's website for the latest rates and specials.

Lincoln Park Savings Bank is offering two competitive CD specials: 4.80% APY CD with terms from 24 to 35 months, and 4.35% APY CD with terms from 15 to 20 months. The minimum deposit is $10,000. Please refer to the bank's rate table for more details.

It appears a branch visit may be required to open accounts. Branches are located In Chicago, Illinois.

The bank's financial ratings are weak:...

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