New Millennium Bank

Overview / Commentary
222 Bridge Plaza South
Fort Lee, NJ 07024

New Millennium Bank is headquartered in Fort Lee and is the 41st largest bank in the state of New Jersey. It is also the 1,741st largest bank in the nation. It was established in 1999 and as of September of 2020, it had grown to 60 employees at 7 locations. New Millennium Bank's money market rates are 14% higher than the national average, and it has a B+ health rating.

Reviews (1)

It Is A Rip Off

Posted by: |

Stay away from this bank, the only transaction with them was a commercial loan and we have some difficulties paying our mortgage duo to Covid-19 situation to the point that we had to shut down . we put the building up for sale. When we asked them to pay all the late payment back, they raised our interest from 5.5 to 9.5% , charges us an outrageous lawyer fees over 20,000 dollars for just sending us few letters with no even a court appearance . also charging us over 4500 for appraisal fee and multiple thousands for administrations fee . It is a rip off process because they know that our balance is 500 thousand and the building is worth 2.5 million. Since the bank was sold to a Korean group and they do this dirty business to steal the money from all the distressed property owners. I heard that they foreclosed on multiple buildings and family houses just to profit from the foreclosure process so even if you are able to get out of the foreclosure and save your property you will have to pay them an outrageous fees.



Health Grade Components

FDIC Certificate #35151
Year Established1999
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.66%
Return on Equity - YTD6.83%
Annual Interest Income$14.0MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$461.8MM$448.6MM
LoansQ3 2020vs Q3 2019$355.8MM$303.7MM
DepositsQ3 2020vs Q3 2019$392.7MM$396.5MM
Equity CapitalQ3 2020vs Q3 2019$41.7MM$38.9MM
Loan Loss AllowanceQ3 2020vs Q3 2019$7.5MM$5.3MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$2.5MM$1.1MM
Real Estate OwnedQ3 2020vs Q3 2019$137.00K$112.00K
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Always verify rates and promotions with the bank or credit union. We are not New Millennium Bank; 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.

New Millennium Bank Savings Account Rates

2.15%$1k$50kMillennium Club Account w/ Automatic Transfer – 3 Year
1.95%$1k$50kMillennium Club Account w/ Automatic Transfer – 2 Year
1.90%$1k$50kMillennium Club Account w/o Automatic Transfer – 3 Year
1.75%$1k$50kMillennium Club Account w/ Automatic Transfer – 1 Year
1.70%$1k$50kMillennium Club Account w/o Automatic Transfer – 2 Year
1.50%$1k$50kMillennium Club Account w/o Automatic Transfer – 1 Year
0.50%*$10k*-Super Savings
OTHER TIERS: 0.25% Up to $10k
0.25%--Neighborhood Savings Account
0.15%--New Millennium Silver Account

New Millennium Bank Money Market Rates

0.50%*$250k*-Money Market Account
OTHER TIERS: 0.15% $1k - $10k | 0.25% $10k - $50k | 0.30% $50k - $100k | 0.40% $100k - $250k

New Millennium Bank Checking Account Rates

0.15%$500-Business Interest Checking Account

New Millennium Bank CD Rates

0.60%$500-2 Year CD
0.60%$500-3 Year CD
0.60%$500-4 Year CD
0.60%$500-5 Year CD
0.55%$500-12 Month CD
0.55%$500-18 Month CD
0.50%$30k-12 Month Hybrid Certificate with Checking
0.50%$30k-12 Month Hybrid Certificate without Checking
0.45%$500-9 Month CD
0.35%$500-6 Month CD
0.25%$500-90 Day CD

New Millennium Bank Locations
New Millennium Bank222 Bridge Plaza SouthFort Lee, NJ 07024
Fort Lee Branch1620 Lemoine AvenueFort Lee, NJ 07024
Bayside Branch209-35 Northern BoulevardBayside, NY 11361
Manhattan Branch312 Fifth Ave, 3rd FloorNew York, NY 10001
New Brunswick Branch57 Livingston Ave SteNew Brunswick, NJ 08901
Palisades Park Branch134 Broad AvePalisades Park, NJ 07650
Flushing Branch Office141-28 Northern BlvdFlushing, NY 11354

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