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1st Constitution Bank Review

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We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
We maintain strict editorial integrity in our writing and assessments. This post contains links from our advertisers, and we may receive compensation when you click these links. Any opinions, analyses, reviews or recommendations expressed in this article are those of the author’s alone. | Advertiser Disclosure
1st Constitution Bank Savings
0.20% APY

Overview

Our Rating: 4.3/5 How we calculated this rating

Founded in 1989, 1st Constitution Bank has assets totaling $1 billion along with deposits totaling $922 million, which makes the institution a medium-size bank. 1st Constitution Bank, whose headquarters are in Cranbury, New Jersey, lacks premium access to support representatives, with no options of live chat or all-day service. It is a conventional brick-and-mortar bank with in-person service, in addition to its online and mobile offerings. With a score of 4.1 out of 5 stars, 1st Constitution Bank should be solidly in contention for your choice of bank. 

1st Constitution Bank has a full array of banking products, including savings accounts, checking accounts, money market accounts, CDs, IRAs and mortgage products. 1st Constitution Bank has a fair savings rate; other popular banks have higher rates. If you're interested in stress-free personal checking, 1st Constitution Bank's standard checking account does not have a monthly fee. Using the same bank for checking and savings can be ideal for getting the most return on your money while maintaining easy control over your funds.

Service Quality

1st Constitution Bank is a brick-and-mortar bank, with 20 total bank locations in New Jersey. It also offers access to mobile and web apps for a straightforward mobile-banking experience.  

1st Constitution Bank receives poor reviews from users for its online presence: with 10 customer reviews across both iOS and Android platforms, the 1st Constitution Bank mobile app rates a 2.5 out of 5 (compared to the national average of 3.8). 1st Constitution Bank's mobile app allows you to control your bank accounts by reviewing monthly statements, sending and receiving funds and accessing support representatives. 1st Constitution Bank gets an exceptional consumer satisfaction rating due to comparatively few consumer complaints registered with the Consumer Financial Protection Bureau (CFPB), a government financial agency that protects consumers in the financial sector. 

Products Offered

Product Current Terms and Rates Minimum Balance for APY  
Savings Accounts 0.20% APY $200 Compare Offers
Certificates of Deposit
  • 12 Month: 0.50% APY
  • 24 Month: 2.60% APY
  • 36 Month: 1.00% APY
  • 48 Month: 1.30% APY
  • 60 Month: 1.50% APY
$1,000 for all tiers Compare Offers
Money Market Accounts
  • 10K tier: 0.15% APY
  • 25K tier: 0.25% APY
  • $10,000
  • $25,000
Compare Offers
Checking Accounts 0.15% APY $1,000 Compare Offers

1st Constitution Bank has several deposit products which include savings accounts, checking accounts, money market accounts and CDs, providing you with many options to manage your money. It does not have the best savings rate, which means you should consider looking elsewhere for banks that offer more return for your money. CDs can be a terrific option to achieve higher returns, but there are limitations to accessing your money. 1st Constitution Bank's CD rates are fair as compared against the national average. 

Rates

1st Constitution Bank features a savings rate of 0.20%, which is fair in comparison to the national average. 1st Constitution Bank's one-year CD earns at a rate of 0.50% and the five-year CD earns at a rate of 1.50%, while its highest-yielding money market account earns at an APY of 0.25%. Given its poor savings rate, you should consider choosing another bank to earn more on your deposits.

Compare 1st Constitution Bank to Other Competitive Offers

Fees

1st Constitution Bank has generally extremely low fees in comparison to the national average. With no monthly fee, 1st Constitution Bank is ideal for those who want a simple checking account. 

Financial Health

1st Constitution Bank is a medium-size bank and manages assets totaling $1 billion and $922 million in deposits. 1st Constitution Bank has a very good Texas Ratio of 5.28%, suggesting that 1st Constitution Bank is in fine financial shape and far from failure. Additionally, 1st Constitution Bank is FDIC-insured, meaning that your money is insured (up to $250,000) even in the event of bank failure.

Find a 1st Constitution Bank Near Me

1st Constitution Bank has 20 locations in the U.S.

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