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.
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 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.
This bank once had four branches in my city -it’s down to one, and they amazingly took out the last walk -up ATM. Now you need to compete with every business customer to withdraw cash. The first time I went for cash in the drive-up it was broken and they were only able to give me 50s and hundreds at the drive-up window, a 20 minute transaction. The next time it wasn’t functional at all. And so forth.
When I last tried to remove something from my
safe deposit box,for which I pay , it took three times going there for them to succeed in opening the box. The faces inside are always new.
When banks paid interest that wasn’t incredibly minimal they were never competitive. They made me close and reopen my account to give me a better rate, since the promotions were always for new customers only.
Good luck doing any face-to-face with this bank.
|FDIC Certificate #||9396|
|Return on Assets - YTD||1.02%|
|Return on Equity - YTD||8.53%|
|Annual Interest Income||$1.38B|
|Assets and Liabilities|
|Assets||Q4 2020vs Q4 2019||$40.68B$37.44B|
|Loans||Q4 2020vs Q4 2019||$32.18B$29.61B|
|Deposits||Q4 2020vs Q4 2019||$32.07B$29.31B|
|Equity Capital||Q4 2020vs Q4 2019||$5.00B$4.57B|
|Loan Loss Allowance||Q4 2020vs Q4 2019||$340.2MM$161.8MM|
|Unbacked Noncurrent Loans||Q4 2020vs Q4 2019||$198.6MM$173.1MM|
|Real Estate Owned||Q4 2020vs Q4 2019||$5.1MM$9.3MM|
Rates for Valley are currently being reviewed.