No stored Google rating available.
Abacus Federal Savings Bank is a full-service bank founded in 1984 serving immigrant and local communities across New York, New Jersey, and Pennsylvania with deposit accounts, loans, and insurance services.
Data compiled from public sources
Abacus Federal Savings Bank was established in December 1984 by business leaders from the Chinese community in New York City with a mission to provide financial services to immigrants and lower Manhattan residents. Over nearly four decades, the bank has maintained its community-focused approach while expanding from its original single location to six branches across New York, New Jersey, and Pennsylvania. The bank offers a comprehensive range of personal and business banking services.
On the personal side, customers can access checking and savings accounts, certificates of deposit, individual retirement accounts, secured and unsecured credit cards, chip debit cards, online and mobile banking platforms, residential mortgages, home equity lines of credit, and overdraft lines of credit. Business customers have access to business checking and savings accounts, business online banking, payroll services, merchant services, business credit cards, commercial mortgages, and business loans. Abacus distinguishes itself through its community commitment and listed focus.
The bank earned the AARP BankSafe Trained Seal in 2021, indicating staff training to protect elderly customers from fraud and financial exploitation. The bank also distributed $100,000 in COVID-19 SBRG checks to ten nonprofit organizations and received a 5-Star rating from Bauerfinancial in 2021. The institution emphasizes personal service and individual attention as core values, positioning itself as relationship-driven rather than purely transaction-focused.
However, prospective customers should note that Abacus operates with limited geographic reach (only 6 branches in three northeastern states) and limited online presence compared to national banks. The website provides minimal information about specific rates, fees, or product details, requiring direct contact for pricing information. As a smaller regional institution, it may have fewer advanced digital features than larger competitors, though it does offer mobile banking and online services.
This is state-level context for Banks consumers in New York, NY. It does not confirm that Abacus Federal Savings Bank or this specific location is licensed.
State regulator
New York Department of Financial Services
Consumer protection
Source: CreditDoc state-law summary and listed public regulator resources. Verify licensing directly with the listed state regulator before relying on a provider.
Abacus Federal Savings Bank processed 125 mortgage applications in 2023, with 92.8% recorded as approved across 4 states.
125
Applications
92.8%
Approval Rate
$406K
Avg Loan
4
States Served
Based on 125 applications. Income in thousands (reported by applicant).
Source: CFPB Home Mortgage Disclosure Act (HMDA) Data, 2023. Applications include originated, approved, and denied loans.
Abacus Federal Savings Bank offers 18 services including Personal checking accounts, Personal savings accounts, Certificates of deposit (CDs), Individual retirement accounts (IRAs), Secured credit cards, and 13 more.
Abacus Federal Savings Bank has profile signals associated with Chinese immigrant and multilingual communities in the New York, New Jersey, and Pennsylvania region, Seniors and elderly customers concerned about fraud protection and personal service, Small business owners seeking relationship-based banking with local decision-making, Customers in lower Manhattan and neighboring areas valuing community bank commitment over national chains.
Key strengths: AARP BankSafe Trained Seal certification demonstrating commitment to protecting elderly customers from fraud; 6 physical branch locations across New York, New Jersey, and Pennsylvania for in-person banking; Comprehensive service offerings including personal banking, business banking, mortgages, loans, and insurance through subsidiary. Areas to consider: Limited geographic footprint with only 6 branches in three states, making access difficult for non-regional customers; Website lacks specific information about rates, fees, APRs, and product terms; customers must call or visit branches.
In the Banks category, comparable providers include Cathay Bank, George Dimov CPA, ICICI Bank New York Branch. Each company has different strengths, so compare services, pricing, and consumer complaint records before deciding what to do next.
CreditDoc Profile Note
Abacus Federal Savings Bank is profile signals for immigrant communities, seniors, and small business owners in the Northeast seeking personalized, community-focused banking with fraud protections. The main caveat is its limited geographic presence and lack of listed pricing information online, requiring direct contact to compare rates and terms.
Cathay Bank is a full-service bank offering personal checking, savings, home mortgages, credit cards, and digital banking services with multilingual support.
Google rating from 5 reviews
Profile signals: Multilingual customers preferring banking services in Chinese, Spanish, or English, Small business owners seeking SBA loan programs and analyzed business checking accounts
NYC-based CPA firm offering tax preparation, accounting, bookkeeping, and financial advisory services for individuals and businesses across New York.
Google rating from 505 reviews
Profile signals: New York-based business owners and self-employed professionals needing comprehensive tax and accounting support, High-net-worth individuals seeking strategic tax planning and estate/trust services
ICICI Bank's US branch offers NRI banking services including money transfers to India, home loans, and corporate banking from offices in New York, California, and Texas.
Google rating from 466 reviews
Profile signals: Non-Resident Indians (NRIs) who need to send money to family and financial accounts in India, Indian expats seeking home loans for property purchases in India while living in the US
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