Boiling Springs Savings Bank
25 Orient Way
Rutherford, NJ 07070
Location: 18 offices in Bergen, Passaic, Essex & Morris Counties
Top Executive: Robert E. Stillwell, President & CEO
Year Founded: 1939
Number of Employees: 196
Boiling Springs Savings Bank was formed by the combination of two local thrift institutions dating back to the 1870s. We first opened as Boiling Springs Building & Loan Association in April of 1939 in Rutherford. We then opened our first branch in Lyndhurst in 1959 and gradually grew, opening our 18th office in Glen Ridge in 2012. We became Boiling Springs Savings Bank in 1992
The Bank has always been known for its personal and friendly attention to its customers and for its strong ties to its local communities. Boiling Springs is synonymous with Local Values, Local Roots & Local Management.
What They Do:
BSSB serves the North Jersey market with a variety of mortgage products, including loans for housing, apartment buildings, commercial properties and construction lending. We also offer home equity loans and lines of credit. Our deposit products include various checking accounts, money market account, savings accounts, certificates of deposit and our youth savings account, Boiling Bucks.
Our signature product is our Community Alliance Program whereby nonprofit organizations can earn donations based on the balances in supporters accounts. Almost $2 million has been donated through the Community Alliance Program.
Business Goals & Objectives:
Our goal is to serve our customers and communities with the best products and best service that we can.
Edge & Competitiveness:
Boiling Springs is distinctive through the Community Alliance Program. Incenting nonprofits to recommend our bank (while helping them receive donations) gives us a competitive advantage in our local communities. By working closely with the nonprofits we are able to foster that bond between bank and community that no other bank can.
The bank’s Community Alliance Program has donated almost $2 million. This program currently services local 345 nonprofits.
In all of our communities we strongly support local organizations through the sponsorships of local events, local teams and local organization. We provide large donations to a number of organizations, primarily to help housing, the hungry and the needy.
We have stepped up to help the communities after natural disasters such as Hurricane Irene or Super Storm Sandy through volunteer outreach and additional monetary funding (primarily to local food banks).
Awards & Accolades:
The Community Alliance Program won a national award from the American Bankers Association for its new and imaginative way to help nonprofits.
The Bank has also won the distinction of being included on NJBIZ’s “The Best Places to Work in New Jersey” for the last four years. For three of those four years, BSSB was the only bank to win the award.
The American Bankers Association also distinguished BSSB as one of “The Best Banks to Work For”, winning this award for the last two years. BSSB was the only bank in New Jersey recognized for this distinction.
BSSB has also been honored by a number of nonprofits for our community service including 55 Kip Center, Children’s Aid and Family Services, West Bergen Mental Health, among others.
BSSB serves on the Leadership Council of the Meadowlands Regional Chamber and representatives from the bank have been recognized by the Chamber for advancing economic development through stellar leadership and community service.