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Overview / Commentary
973-777-6768
615 Main Avenue
Passaic, NJ 07055

Valley National Bank engages in personal, commercial, corporate and institutional banking and offers depository products, loans, and insurance options to its customers and potential customers.

The bank makes several checking and savings accounts available, which include basic and senior checking as well as health and children’s savings accounts. Money Market accounts are available and differ from the savings accounts with regard to account requirements. CDs and IRA CDs are also offered with term lengths ranging from 7 days to 72 months.

Valley National Bank online banking is called VBankWorks and gives customers access to free online account management services. It offers them the ability to check account balances, view transaction history, transfer funds, and pay bills.

Valley National Bank was originally established in 1927 as the Passaic Park Trust Company, before changing to its current name in 1976. It is headquartered in Waynen, New Jersey and is the principal subsidiary of Valley National Bancorp, operating hundreds of branches predominantly in the states of New Jersey and New York.

Related Posts

New Step-Up CD Promo At Valley National Bank In FL, NY & NJ - 4/20/2017

1.75% apy 37-month step up CD 1.50% apy 25-month step up CD Minimum deposit $500 maximum $500,000 Customer may exercise the option to a one-time rate change during the initial term and one-time during each subsequent renewal term to the prevailing 25 month or 37 month rate https://www.valleynationalbank.com/Personal/promo-step-up-cd.aspx

$150 Bonus For Student Checking Account In FL, NY And NJ - 2/12/2017

Valley National Bank has a promotion for its student checking account called VNB My Choice Checking which is intended for young adults from 17 to 25. $75 for opening a new checking account and activating Mobile Banking $75 for completing a minimum of 20 debit card transactions of at least $5 OR enrolling in online banking and completing 3 online bill payment transactions. There is no monthly maintenance fee and it includes a monthly rebate of up to $20 for ATM fees at other bank ATMs. https://www.valleynationalbank.com/Personal/Checking.aspx?p=StudentChecking

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6/29/12 - $150 Checking Account Promotion
5/11/12 - Special 5-Year & 30-Month CD Rates at Valley National Bank in NY - Local Only
8/8/11 - Valley National Bank $150 Checking Account Promotion - NY & NJ Only
7/19/11 - $100 For Opening Valley National Bank (NJ) Rewards Perfect Checking Account
3/14/11 - Competitive Long-Term CD Rates at Valley National Bank in NJ & NY
2/10/11 - Valley National Bank $100 Checking Account Promotion - NY & NJ Only
9/6/09 - 2.50% 12-Month CD & 2.25% 6-Month CD at Valley National Bank at a NY Branch - Local Only
9/6/09 - 2.50% 12-Month CD at Valley National Bank Branch in New York City - Local Only
9/4/09 - Checking Account Bonus up to $150 at Valley National Bank in New Jersey - Local Only
7/22/09 - 2.22% 12-Month CD at LibertyPointe Bank in New York - NY, NJ & CT Residents Only
12/11/08 - 4.15% 12-Month CD at Park Avenue Bank in New York City
10/30/08 - 5.20% 18-Month CD at Park Avenue Bank in New York
10/2/08 - 5.10% 12-Month / 4.80% 6-Month CD at Park Avenue Bank in New York City
8/27/08 - 4.75% 3-Month / 4.25% 7-Month CD at a New York Bank - $100K Min (Park Avenue).
8/11/08 - 4.05% 9-Month / 4.05% 12-Month CD at a NJ/NY Bank (Valley National)
6/25/08 - 4.75% 3-Month CD at a New York Bank - $100K Min (Park Avenue)
3/24/08 - 4.65% 7-Month CD at a New York City Bank - and $150 Checking Bonus (Valley National Bank).
3/22/08 - 4.65% 7-Month CD at a New Jersey Bank - and $150 Checking Bonus (Valley National Bank).
2/24/08 - 5.25% 7-Month CD at a New York Bank (Valley National).
1/5/08 - 5.25% 18-Month / 5.25% 60-Month CD at a New York Bank (LibertyPointe).
12/15/07 - 5.50% 6-Month / 5.50% 18-Month CD at a New York Bank (LibertyPointe).
10/31/07 - 6.00% 12-Month CD at a New York Bank (LibertyPointe)
9/20/07 - 5.75% 5-Month CD at a New Jersey Bank (Valley National)
8/3/07 - 6.00% 5-Month CD at a New Jersey Bank (Valley National) - Update 2
7/25/07 - 5.60% 24-Month / 5.50% 12-Month CD at a New York Bank (LibertyPointe)
6/4/07 - 6.00% 5-Month CD at a New Jersey Bank (Valley National) - Update
5/22/07 - $150 Checking Account Bonuses at a New Jersey Bank (Valley National)
5/16/07 - 5.50% 24-Month / 5.50% 36-Month CD at a New York Bank (LibertyPointe)
4/5/07 - 5.70% 24-Month / 5.70% 36-Month CD at a New York Bank (LibertyPointe).
2/19/07 - 6.00% 5-Month CD at a New Jersey Bank (Valley National)
11/14/06 - 5.75% 6-Month / 5.75% 18-Month CD at a New York Bank (Park Avenue)
7/21/06 - 6.00% 12-Month / 5.75% 9-Month CD at a New York Bank (LibertyPointe)
4/17/06 - 5.25% 12-Month CD at a New York Bank.
4/17/06 - 5.40% 12-Month CD at a New York Bank
3/30/06 - 5.30% 12-Month / 5.50% 24-Month CD at a New York Bank
2/28/06 - 5.25% 24-Month / 5.05% 12-Month CD at a New York Bank

We love our bank!

We have been banking here for over 20 years. I love the individualized service you get at a small local bank. When my husband had his business we had his account here as well as our personal checking and a savings account. They knew him when he walked in and we have always been treated with the utmost respect and friendliness. I have had experience in the past with big banks and there is no comparison. I also like that smaller banks might be less likely to be the target of hackers. In today's world there is so much to look out for. Since so much of banking is accomplished online now we don't have as much interaction with the actual personnel at the bank but if we ever need to call our questions are answered quickly and professionally every time. I would not consider changing banks, especially to a big bank, even though we don't have ALL of the conveniences available at bigger banks. I would rather have the great service than all of the bells and whistles.

I Like Their Calls About My Late Payments. Saved My Credit Rating!

I have repeatedly missed my car payment dates. They call my cell, mention the problem, and I say pay it. I finally got my own bank to start making automatic payments for this reason, so the calls should stop. Given all the $10 or see fees each late period, I paid about $100 in late fees this year. That is my fault. I consider the fees a bargain. Someone had to call me, and that service costs money. Often, these callers get nowhere, so I must unfortunately but realistically account for that low efficiency in what I pay as a late fee. I appreciate the calls. It's much better than my forgetting until I end up with my payments so overdue they get reported to credit agencies. My credit score is over 820. If not for their calls, I would forget and it would be much lower. I don't recall getting calls when I missed payments for anything. For me, it's a win-win. Maybe other banks do that, but I'm just glad they do it. Saved my credit score. I'm thinking of buying a house. How much is the score worth to me? A lot! I do wish I could have paid online to their bank directly from mine without an account at their bank, but such is life.

No CD Promotion Available?

I had a CD come due at this bank recently and went in to my local branch to renew the CD at the current posted promotion rate on this site. When I asked them about the promotion, they had no idea what I was talking about and said they didn't have a promotion even close to that rate. Why advertise the promotion if the banks don't have it? They lost my business to yet another internet bank.

NO HELP WHEN YOU HAVE A PROBLEM

Posted by: DAPPER44 | Sep 15, 2012

I have been banking at my branch for over 30 or so years. Valley purchased Prospect Park Savings many years ago.The branch was a pleasure to deal with, because people at the branch, could solve a problem if you had one.I recently ran into a problem with one of my accounts that they changed the monthy balance from $500.00 to $999.00.No notices were sent out by the bank for this change and since they stopped sending out hard copies every month I was charged a $25.00 service charge for this change in bank policy.The 2 girls at my branch were no help at all in solving this problem.After numerous calls to customer service I was able to talk to a supervisor who was able to reverse the charge and get me back on getting a hard copy of my statements every month. The tellers are great people,but have no use for the 2 so-called branch managers.

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Health

Health Grade Components

Overall
FDIC Certificate #9396
Year Established1927
Employees2848
Primary RegulatorOCC
Profit Margin
Return on Assets - YTD0.79%
Return on Equity - YTD7.2%
Annual Interest Income$621.9MM
Assets and Liabilities
AssetsQ3 2017vs Q3 2016$23.74B$22.31B
LoansQ3 2017vs Q3 2016$18.10B$16.73B
DepositsQ3 2017vs Q3 2016$17.38B$17.02B
Equity CapitalQ3 2017vs Q3 2016$2.65B$2.37B
Loan Loss AllowanceQ3 2017vs Q3 2016$119.0MM$110.7MM
Unbacked Noncurrent LoansQ3 2017vs Q3 2016$71.9MM$75.6MM
Real Estate OwnedQ3 2017vs Q3 2016$10.8MM$10.3MM
Rates

Rates for Valley National Bank are currently being reviewed.

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