Prudential Bank

Overview / Commentary
1834 West Oregon Avenue
Philadelphia, PA 19145

Prudential Bank is headquartered in Philadelphia and is the 45th largest bank in the state of Pennsylvania. It is also the 892nd largest bank in the nation. It was established in 1886 and as of June of 2021, it had grown to 97 employees at 10 locations. Prudential Bank has a B+ health rating.

Reviews (3)

Anyone Have Mortgage Experience With Prudential Savings Bank In PA?

Posted by: |

Hi, I'm planning to get a mortage from Prudential Savings bank because they show the lowest 15yr mortgage rate on at 3% interest. So, I google'd them to find any user reviews but did not find any online. Just wondering if anyone worked with them before. Thanks

CD Investors Beware

Posted by: |

CD investors beware. Yesterday a five-year cd came due at Prudential Savings Bank. So we went to the closest branch, but learned that we needed to return the following day. Today my wife went to get a check for her IRA CD only to learn that she would have to pay a $50 "Transfer Fee" to get a check, a fee that was established in June of '17. Futhermore, she is not transferring funds, she is redeeming a CD. Had this fee been in existence when she obtained the CD, she would not done business with this bank. We are trying to appeal to upper management, but to this point none of our many calls have been returned. The branch manager we have faced for two day in a row claims he has no authority to wave the fee. Charging customers a fee that they were no informed of at the point-of-puchase just simply is not a fair practice. We would not recommend this bank.

Prudential Savings Bank

Posted by: |

I wish someone had responded to your question about Prudential Savings Bank, it would have saved me so much frustration.

I refinanced my mortgage with them around November of 2016. From start to finish, it took 3 months to complete. Worst banking experience of my life.

The terms were great, and they said I could choose to not escrow and not pay a penalty to do so. That reminds me, one suggestion: keep an eye on the fees that they quote on the loan disclosure document. They changed almost each time a new disclosure was issued. (I received about 6 through this process).
And some were flat out never done. (They charge an 'employment verification fee'. They never contacted my employer, but they still charged me for it).

Anyway, at first, they were very responsive, and proceeded to scheduled the house appraisal. For those who don't know, you don't get to pick who does the appraisal. Prudential works with an appraisal mgmt company (AMC) who sends a random appraiser out. That way the bank doesn't have any influence over the results. Well, at least that's how it's supposed to be. I paid for the appraisal, and it was scheduled and completed very quickly.

Once the appraisal was done, it was reviewed by Prudential and they wouldn't accept it. They asked me to contact the appraiser directly and ask him to 'revise' his appraisal. I did, and he did. They still did not accept the appraisal and asked me to have him revise it again. Their issue was that the three comparables gross adjustments were greater than 15%. The appraiser felt that his appraisal was correct, and would no longer revise it.

At this point, Prudential informed me that in order to proceed, I would need to have another appraisal done, and I would have to pay for it again. I of course refused, and told them that I would go with another lender unless they paid for the new appraisal. I was told that upper management would be contacted, and they would see what they could do. This is when things started taking much longer, and Prudential's responsiveness went to a snails pace. Also, as I found out later, this process actually caused the original loan application to be denied, and a new application then began. This would later come back to bite me in the butt. (later I discovered a few of the original terms & fees changed because this was actually a new loan request, but that wasn't disclosed to me until the final couple of days. More on that later).

I was finally told that Prudential would pay for the new appraisal. I agreed to move forward working with them. Now, scheduling the new appraisal kept getting delayed. Then my broker told me that they wouldn't outright pay for the appraisal, and instead wanted the AMC to pay for it. They finally compromised and said that the results of the appraisal would determine who would pay. If the new appraisal dollar amount was greater than 15% compared to the first appraisal, then the AMC would agree that the first appraisal was bad and would pay it themselves. If it was less than 15%, then Prudential agreed to pay. Well, Prudential wound up paying.

This process took weeks, and I had to call both my broker and his supervisor dozens of times to get to this point. Un-returned phone calls, and ignored emails began infuriating me. I finally placed a call to Prudential's Chief Operating Officer. I think I only got him directly because the operator transferred me to his secretary, and I told her I was supposed to have been transferred to the COO. When she transferred me, he answered thinking it was his secretary calling him! Lol.

Once I explained many of my concerns & issues directly to him, things finally started moving again.

All this time, looming rate hike rumors were threatening my awesome rate they 'promised' me. Since nothing is actually guaranteed until the day of closing the refi.

We then moved forward with scheduling the closing date, which had it's own issues. It had to be rescheduled and we also discovered that now, in order to opt out of escrowing, I would have to pay a 'fee'. I opted to escrow, even though I didn't want to, in order to avoid paying this.

I finally got to close on my mortgage, and thought everything was finally done. Now the rest of Prudential's banking team got to show me how bad they are.

First, you can't pay your mortgage from Prudential's website. You either have to mail in a check, or you have to set up an electronic funds transfer from your bank. Since I didn't want them to be able to claim that they 'didn't receive my check', I set up EFT from my bank. I sent my first payment in on December 29th. My due date was January 1st, but they give you up to the 14th of the month before it's considered late.

A week went by, and the Prudential website showed no payment received. I called the bank and spoke to a teller who assured me that they received it and would update the website soon. Another week went by, with no change. I called, and spoke to someone who said they never received it. I had to contact my bank, and get a transfer receipt number. Once I gave that to Prudential, they 'found' my payment and said it had been rejected due to a wrong account number. I asked what was wrong with the account number, and she told me that it was correct and the computer system incorrectly rejected it.

Finally, they applied my payment, a day or two before being considered late. Good thing I was keeping up on making them do their job.

I made the next payment, and it went ok. Then for my next payment, I logged into Prudential's website to check on my 3rd payment and the website said I didn't have an account. I finally got someone who told me that my account was sold to another bank and I should send payments to them. I was never notified by mail or by any other method. Now the website wouldn't even show me my payment history.

At least now i'm with a much bigger bank, and they seem to have their act together.



Health Grade Components

FDIC Certificate #30011
Year Established1886
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.71%
Return on Equity - YTD6.49%
Annual Interest Income$18.8MM
Assets and Liabilities
AssetsQ2 2021vs Q2 2020$1.12B$1.19B
LoansQ2 2021vs Q2 2020$609.8MM$584.4MM
DepositsQ2 2021vs Q2 2020$734.4MM$731.3MM
Equity CapitalQ2 2021vs Q2 2020$129.2MM$125.9MM
Loan Loss AllowanceQ2 2021vs Q2 2020$8.4MM$6.7MM
Unbacked Noncurrent LoansQ2 2021vs Q2 2020$8.9MM$13.6MM
Real Estate OwnedQ2 2021vs Q2 2020$3.8MM$406.00K
Skip to rates for:
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Prudential 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.

Prudential Bank Savings Account Rates

0.01%$100-Statement Savings

Prudential Bank Money Market Rates

0.20%*$50k*-Money Market Checking Account
OTHER TIERS: 0.01% $10 - $50k

Prudential Bank Checking Account Rates

0.01%$300-Checking Account

Cities: Drexel Hill, Huntingdon Valley, Philadelphia

Drexel Hill Branches
Drexel Hill - Township Line Branch1270 Township Line RoadDrexel Hill, PA 19026

Huntingdon Valley Branches
Huntingdon Br3993 Huntingdon PikeHuntingdon Valley, PA 19006

Philadelphia Branches
South Broad Branch1722 South Broad StreetPhiladelphia, PA 19145
Prudential Savings Bank1834 West Oregon AvenuePhiladelphia, PA 19145
Moore At Moyamensing Ave Branch238a Moore StreetPhiladelphia, PA 19148
Penn Center Branch2 Penn CenterPhiladelphia, PA 19102
Frankford Ave Branch8000 Frankford AvePhiladelphia, PA 19136
Spring Garden Street Branch2133 Spring Garden StreetPhiladelphia, PA 19130
Richmond Street Branch4800 Richmond StreetPhiladelphia, PA 19137
East Allegheny Avenue Branch2646 East Allegheny AvePhiladelphia, PA 19134

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.