Bank Shots: Summer 2024

Cross River Bank

Cross River Bank becomes part of NJEDA’s premier lender program. The Premier Lender program provides businesses with access to financing while enabling lenders to have more flexibility due to exposure reduction. Cross River joins a list of banks that the EDA partners with to overcome financial obstacles stalling the growth of New Jersey-based businesses.

Magyar Bank

Magyar Bank Invests $100,000 in New Jersey’s Neighborhood Revitalization Tax Credit Program in support of New Brunswick Tomorrow and their affordable housing programs in New Brunswick’s Esperanza neighborhood.

Valley Bank

Valley Bank has invested $1M in the 2023–2024 Neighborhood Revitalization Tax Credit Program. The bank’s investment has been allocated to support six nonprofits working in eligible neighborhoods across Warren, Union, Passaic, Essex, and Middlesex counties.

Kearny Bank

Kearny Bank Foundation has donated a total of $735,500 to charities during the 2023 calendar year. In 2023, the largest single donation was to Junior Achievement of New Jersey, which received $140,000. In addition, the Meadowlands YMCA received $30,000, while Habitat for Humanity of Morris County and Fairleigh Dickinson University each were gifted $25,000.

Provident Bank

Provident Bank has donated original bookkeeping ledgers dating back to 1839 to the Jersey City free Public Library. Provident Bank was established in 1839 in a one-room office in Jersey City, and it holds the distinction of being the oldest New Jersey-based bank. Its first day’s deposits totaled just $227.