Roma Bank Rates & Review

Roma Bank Review

Roma Bank, an award-winning bank based in Robbinsville, N.J., was founded in Trenton in 1920 as Roma Savings and Loan Association. The bank has grown over the years, most recently acquiring Sterling Bank in July 2010.

At that time the bank's goal was to provide savings accounts and loans to the local Italian immigrant population. Today, Roma Bank has 24 full-service branches in Mercer, Burlington, Ocean, and Camden counties. Customers have access to 37,000 surcharge-free ATMs throughout the U.S.

The institution established the Roma Bank Community Foundation, which has donated over $1 million since it began. It has consistently earned the highest possible rating from Bauer Financial.

Personal banking

Roma Bank offers a range of options for savings accounts including Passbook Savings, Statement Savings, Premier Statement Savings, Young Savers and Club accounts. CD rates are offered with terms ranging from 91 days to 7 years.

Checking accounts include Roma Interest Checking, Truly Free Checking, New Jersey Consumer Checking Account and Premier Checking. The bank also offers retirement accounts, home equity loans and mortgages. Credit cards are available for personal and business customers.

Business banking

For its business customers, the bank offers Free Business Checking, a Business Checking Account that has no service fee if the balance is at least $5,000. Business can get financing in the form of commercial real estate loans, working capital lines of credit, term loans and business vehicle financing. Roma Bank also offers merchant services that include credit card processing, eCheck transactions and payroll cash cards.

Bank services

This bank offers online banking with bill pay. Accounts come with a debit card or VISA check card; VISA credit cards are also available for both personal and business banking customers. Other services offered by this bank include American Express traveler's checks, gift checks and gift cards, banking by phone and special accounts for low income customers.

Deposit insurance

Roma Bank has been insured by the Federal Deposit Insurance Corporation since 1950.

In July 2010, FDIC coverage for eligible deposits was permanently increased from $100,000 to $250,000 per depositor. Joint accounts are insured by FDIC up to at least $250,000 per account holder.

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