5. Safe and Sound – The most important thing to know is that your money is safe with us. Your deposits are insured up to the FDIC limits of $250,000*. More importantly, we’re extremely well capitalized, with a Tier 1 leverage ratio of more than 11% and a Total Risk-Based Capital Ratio of more than 20% as of March 31, 2012. The fact is, NVE is one of the strongest mutual banks in New Jersey and our focus is always on ensuring that we have a safe level of reserves to remain resilient during a financial crisis.
6. Outstanding Customer Service – Superb customer service never went out of style at NVE. The minute you walk into any of our branches, you’ll know NVE is no ordinary bank. You won’t feel like a number; you’ll feel like a friend of the family. We know our customers are the key to our success and we work hard to earn your loyalty, day in and day out.
*FDIC insurance covers all deposit accounts, including checking and savings accounts, money market deposit accounts and certificates of deposit. The standard insurance amount is $250,000 per depositor, per insured bank, for each account ownership category (e.g., single, joint, trust and IRA accounts). The FDIC provides separate coverage for deposits held in different account ownership categories. Depositors may qualify for more coverage if they have funds in different ownership categories and all FDIC requirements are met. (For details on the requirements, go to www.fdic.gov/deposit/deposits.)