NVE Bank
NVE Bank is a mutual community bank, now a division of Ion Bank, serving personal and small/medium business customers across New Jersey and Connecticut with deposits, mortgages, business lending, and digital banking through seven branches and shared online/mobile platforms.
- Company typePrivate
- Founded1886
- HeadquartersEnglewood, United States
- Headcount101–250
- GTM typeB2B and B2C
- OfferingServices
What NVE Bank does
NVE Bank, A Division of Ion Bank, is a mutual community bank headquartered in Englewood, New Jersey, founded in 1886 and operating under the Ion Financial, MHC mutual holding company. Following a May 2024 merger with Connecticut-based Ion Bank, the institution serves personal and small/medium business customers across New Jersey (Bergen, Morris, and Passaic counties) and Connecticut (Capital, Naugatuck Valley, and South Central regions) through seven Bergen County branches and a shared digital platform. The bank offers a full suite of depository products (personal and business checking/savings), consumer and commercial credit cards, residential mortgages including a differentiated iMortgage first-time homebuyer program, home equity loans, and a broad business lending menu spanning SBA loans, term loans, microloans, equipment financing, commercial mortgages, and lines of credit.
The technology stack is built on traditional community banking infrastructure: a Fiserv-powered mobile banking application distributed via iOS and Google Play, online banking, a 24/7 ATM network, Zelle peer-to-peer payments (via Early Warning Services), and Bank-by-Phone. No proprietary technology platform, AI/ML capabilities, or data-driven product features are evidenced. Distribution combines physical branches, an in-person mortgage origination team, employer-based Bank @ Work representatives, and a contact center, with website content and Constant Contact email marketing supporting top-of-funnel acquisition.
Revenue is generated through three primary streams: net interest income on the loan portfolio (mortgages, consumer, SBA, and commercial), deposit account and service fees, and mortgage origination fees. As a mutual bank, NVE is privately held, does not have public shareholders, and reinvests in the community via the NVE Bank Community Foundation and local grants/scholarships. Go-to-market is sales-led and relationship-driven, relying on deep local ties, FDIC-insured deposits, Equal Housing Lender status, and 137+ years of brand equity in Bergen County.
NVE Bank firmographics
Firmographics- Name
- NVE Bank
- Legal name
- NVE Bank, A Division of Ion Bank
- Website
- https://nve.bank
- Company type
- Private
- Founded year
- 1886
- Operating status
- Operating
- Headcount range
- 101–250 employees
- Short description
- NVE Bank is a mutual community bank, now a division of Ion Bank, serving personal and small/medium business customers across New Jersey and Connecticut with deposits, mortgages, business lending, and digital banking through seven branches and shared online/mobile platforms.
- Ownership category
- akta.pro rank
NVE Bank industry classification
Industry- Product category
- Community Banking
- NAICS
- Depository Credit Intermediation (5221)
- SIC
- Personal Credit Institutions (6141), Mortgage Bankers & Loan Correspondents (6162)
- akta.pro primary industry
- Prime Unsecured Personal Loans (Installment) (FSAKAAAA)
- akta.pro secondary industry
- Bank & Credit Union Personal Loans (Unsecured Installment) (FSAKAAAL)
Keywords
Where NVE Bank is headquartered
LocationHeadquarters
- HQ city
- Englewood
- HQ country
- United States
- HQ region
- North America
Offices7 records
Markets served
NVE Bank business model
Business model- GTM type
- B2B and B2C
- Offering type
- Services
- Cost components
- Personnel, Operations, Infrastructure, Technology or R&D, Marketing or Sales, Others
Revenue model
- Interest Income from Lending: NVE Bank generates revenue primarily through interest income on loans including mortgages, personal loans, business loans, and credit cards
- Deposit Account Fees and Service Charges: Fee income from checking and savings account services, overdraft fees, and other account-related charges
- Mortgage Origination and Servicing: Revenue from originating and potentially servicing mortgage loans for homebuyers
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Subscription | Monthly | Personal Checking Accounts |
| Subscription | Monthly | Business Checking and Savings Accounts |
| Transaction based/ take rate | Monthly | Consumer and Mortgage Loans |
| Subscription | Monthly | iMortgage First-Time Homebuyer Program |
Go-to-market motion1 record
Distribution channels5 records
Marketing channels6 records
NVE Bank product offering
Product offeringCore offering
NVE Bank is a mutual community bank operating as a division of Ion Bank, providing personal and business deposit accounts (checking, savings), consumer and business credit cards, residential mortgages (including an iMortgage first-time homebuyer program), home equity loans, and small business lending (SBA loans, term loans, microloans, equipment loans, commercial mortgages, business lines of credit). Services are delivered through branch locations in Bergen County, NJ, and through online and mobile banking channels integrated with Zelle peer-to-peer payments.
Product overview
NVE Bank, A Division of Ion Bank, operates as a mutual community bank offering a comprehensive suite of personal and business banking products across New Jersey and Connecticut. The bank's product portfolio centers on deposit accounts (checking and savings), credit products (consumer and business credit cards, mortgage loans including specialized first-time homebuyer programs, and various business lending solutions), and digital banking services. The iMortgage First-Time Homebuyer Program represents a differentiated offering with rate discounts and low down payments. Business banking includes SBA loans, term loans, equipment financing, commercial mortgages, and lines of credit. The bank also operates a community foundation for local philanthropy. Digital services include online and mobile banking with integrated Zelle peer-to-peer payments.
Differentiator
Problem solved
Functional benefit
Products and services
- Personal Checking Accounts Personal deposit accounts providing everyday banking access with features including online and mobile banking, debit cards, and convenience services for individual consumers.
- Personal Savings Accounts
- Consumer Credit Cards
- Fixed Rate Mortgages
- Adjustable Rate Mortgages
- iMortgage First-Time Homebuyer Program
- Construction Financing
- Home Equity and Improvement Loans
- Business Checking Accounts
- Business Savings Accounts
- Cash Management and Business Services
- Business Credit Cards
- SBA Loans
- Term Loans
- Microloans and Startup Loans
- Equipment Loans
- Commercial Mortgages
- Business Line of Credit
- Online and Mobile Banking
- Bank @ Work
- Zelle Peer-to-Peer Payments
Companies that use NVE Bank
Customer profileNamed customers3 records
Segments4 records
Ideal customer profiles3 records
NVE Bank technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Integration3 records
NVE Bank partnerships and signals
Strategic signalPartnerships
Three partnerships are on record, tiered core and minor.
- Zelle (Early Warning Services, LLC)coreNVE Bank has partnered with Zelle to provide fast, secure money transfer services to customers directly through online and mobile banking. Zelle enables customers to send and receive money using email or U.S. mobile numbers with funds typically available within minutes.
- FiservcoreNVE Bank uses Fiserv for mobile banking app technology and services. The bank offers mobile apps available on iOS and Android platforms through Fiserv's infrastructure.
- Northern Valley RotaryminorNVE Bank is a proud member and supporter of the Northern Valley Rotary, participating in community service activities and local initiatives.
Scale indicators8 records
Recent moves7 records
Expansion highlights6 records
NVE Bank competitors and assessment
Company assessmentRegional players
- Bank of Princeton: NJ community bank with personal, business, and mortgage lending. Similar in size and product scope to NVE, focused on central New Jersey rather than the Bergen County market.
- Magyar Bank: New Brunswick, NJ community bank with personal and business banking products. Comparable mutual/community-style positioning though serving a different NJ region than NVE.
- Two River Community Bank: NJ-based community bank with consumer and small business banking. Comparable in scale and product mix though operating in the central/NJ Shore region rather than Bergen County.
Others
- Fiserv: Core banking and digital platform provider whose technology underpins NVE's mobile and online banking. Not a competitor but a meaningful strategic dependency for NVE's digital offering.
Direct peers
- Spencer Savings Bank: New Jersey-based mutual savings bank serving consumers and small businesses with deposits, mortgages, and business lending. Closely comparable to NVE in mutual structure, NJ footprint, and product mix.
- Columbia Bank (Columbia Financial): NJ-headquartered community bank offering consumer and commercial banking, mortgages, and small business lending across northern and central New Jersey. Direct competitor in the Bergen County deposit and loan market.
- Lakeland Bancorp (now Provident Financial Services): Northern NJ community bank with a comparable mix of personal and business banking, SBA lending, and mortgage origination. Overlaps with NVE in Bergen, Morris, and Passaic county markets.
- ConnectOne Bancorp: Northern NJ/NY metro community bank with similar consumer and commercial banking focus. Direct overlap in Bergen County lending and deposit gathering.
- Unity Bancorp: NJ community bank focused on small business and consumer lending with a similar branch-light, relationship-driven model. Comparable in size and product scope to NVE.
Broad incumbents
- Valley National Bancorp: Larger NJ-based commercial bank with full personal, business, and commercial real estate lending. Competes head-on with NVE across Bergen County while offering broader product scale and digital capabilities.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat5 records
Key risks6 records
Key highlights6 records
Customer concentration
NVE Bank social profiles
Digital presenceNVE Bank compliance and trust
Trust signalCompliance3 records
NVE Bank financial estimates
Financial estimateRevenue estimate
Valuation estimate
NVE Bank leadership team
Management profileNumber of profiles
Profiles8 records
NVE Bank funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
NVE Bank M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about NVE Bank
What does NVE Bank do?
NVE Bank is a mutual community bank operating as a division of Ion Bank, providing personal and business deposit accounts (checking, savings), consumer and business credit cards, residential mortgages (including an iMortgage first-time homebuyer program), home equity loans, and small business lending (SBA loans, term loans, microloans, equipment loans, commercial mortgages, business lines of credit). Services are delivered through branch locations in Bergen County, NJ, and through online and mobile banking channels integrated with Zelle peer-to-peer payments.
Is NVE Bank a public or private company?
NVE Bank is a private company. It is classified as corporate owned and is currently operating.
When was NVE Bank founded?
NVE Bank was founded in 1886. It employs 101 to 250 people.
Where is NVE Bank based?
NVE Bank is headquartered in Englewood, United States, in the North America region.
How does NVE Bank make money?
Three revenue lines are on record. Interest Income from Lending is the primary driver. The others are deposit Account Fees and Service Charges and mortgage Origination and Servicing.
Who are NVE Bank's main competitors?
Regional players on record are Bank of Princeton, Magyar Bank and Two River Community Bank. Fiserv is listed as an others. Direct peers are Spencer Savings Bank, Columbia Bank (Columbia Financial), Lakeland Bancorp (now Provident Financial Services), ConnectOne Bancorp and Unity Bancorp. Valley National Bancorp is listed as a broad incumbent.
Does NVE Bank have an API?
No public API is recorded for NVE Bank.
What industry is NVE Bank in?
NVE Bank's product category is Community Banking. Its primary akta.pro industry code is FSAKAAAA, Prime Unsecured Personal Loans (Installment), with a secondary code of FSAKAAAL, Bank & Credit Union Personal Loans (Unsecured Installment). Its NAICS code is 5221 and its SIC code is 6141.