In the News

 

September 2020

NVE Bank awards $100K in grants to Bergen restaurants, makes $10K donation to food pantry

ENGLEWOOD, N.J. (September 22, 2020)—NVE Bank has continued its philanthropic fight against the pandemic, awarding $100,000 in grants to Bergen County restaurants affected by COVID-19 and making a donation to a food pantry in Englewood, where the bank is based.

The latest grants will support restaurants that experienced a significant decrease in revenue due to the COVID-19 crisis, the bank said.

“With many local small businesses hit hard by the pandemic, we felt it was important to help however we could,” CEO and President Robert Rey said in a prepared statement. “For many of these businesses and organizations, large portions of their revenue have been curtailed due to the pandemic. NVE is thankful to be able to help them get back on track.”

In addition to the restaurants, the Office of Concern Food Pantry at St. Cecilia Church received a $10,000 donation. The food pantry has seen usage grow from 600 families weekly to closer to 1,000.

“Through the years, we have been fortunate to partner with the Office of Concern, and have witnessed firsthand the essential services they provide for our neighbors in need,” Rey said. “We are grateful to be in position to further assist their remarkable efforts to help others during this very difficult time.”

 

NVE will be highlighting each grantee in an ongoing series of social media features on Facebook, TwitterInstagram and LinkedIn.

Grant

July 2020

NVE Bank Awards $100,000 in Grants to 10 Bergen County
Non-Profits Impacted by COVID-19

ENGLEWOOD, N.J. (July 30, 2020)—NVE Bank has awarded $100,000 in grants to 10 Bergen County non-profit organizations impacted by COVID-19. The organizations are in Bergenfield, Closter, Cresskill, Englewood, Hillsdale, Leonia, New Milford, and Tenafly; each received $10,000. NVE’s grantees are dedicated to supporting education, food insecurity, home repair for low-income homeowners, nature preservation, and faith-based initiatives.

NVE Bank provided the funds in conjunction with the FHLBNY SBRG program. Grant funds are intended to support organizations that have experienced a significant decrease in revenue or unanticipated extraordinary expenses because of the ongoing COVID-19 crisis and are least likely to have access to other sources of emergency funds.

“As a community mutual bank, our mission is to ensure the people and organizations in the nine towns we serve remain strong, even in these difficult times,” said NVE Bank President and CEO Robert Rey. “We do not issue stock or exist to maximize investor returns for Wall Street, which allows us to focus on serving our customers and community. Our goal with these grants is to help those that help our communities. For many of these organizations, large portions of their revenue are secured through fundraising programs and events that were canceled due to the pandemic. NVE is thankful to be able to help them get back on track by providing these grants.”

Grantees are required to utilize the money for specific purposes, such as but not limited to COVID-19 compliance efforts, purchasing and installing safety equipment, reconfiguring spaces, re-hiring employees, and working capital needs.

Executive leaders from NVE Bank met with representatives from each receiving organization to present their grant funds. Check presentation photos are available upon request.

NVE will be highlighting each grantee in an ongoing series of social media features on Facebook, TwitterInstagram and LinkedIn.

About NVE Bank
NVE Bank, established in 1887, offers an extensive range of personal and business products and services. The Bank maintains 11 offices conveniently located throughout Bergen County. For more information, please call their toll-free number 1-866-NVEBANK (683-2265) or visit their website at www.nve.bank.

June 2020

NVE Bank Awards Scholarships to 17 Bergen County Students

The 2019-2020 school year can surely be described as one of the most unique and challenging in modern history. While there has been much uncertainty surrounding most aspects of daily life during this time, one thing we are certain of is how deserving NVE’s 2020 scholarship recipients are of this award. These scholarships are awarded to students based on scholastic aptitude and financial need, with the goal of helping to alleviate some of the costs associated with achieving a higher education.

2020 Scholarship Award Winners

$1,000 scholarships were provided to ten high schools and $500 savings products were provided to six middle schools. The schools then selected the scholarship recipients. These student scholarships are part of a program that has been offered by the Bank since 2008; since the program’s inception, NVE has awarded more than $190,000 to 257 deserving scholars in Bergen County.


Meet the NVE Bank Scholarship Program class of 2020:


High School Scholars

Sydney Amaro (Teaneck High School) - Pace University

Chan Eui Kim (Leonia High School) - New York University

Aaliya Gibson (Teaneck High School) – Drexel University

Jean Jabouin (Pascack Valley High School) – Brigham Young University

Isabella Jang (Cresskill High School) – University of Pennsylvania

Kamila Mazzoni (Academies at Englewood) – Rutgers University

Amber Merschrod (Bergenfield High School) – Bergen Community College

Sterling Salmini (Tenafly High School) – Lehigh University

Alexis Senadrin (New Milford High School) – Rutgers University

Katherina Volin (Northern Valley High School) – University of Alabama

Lee Ann Welch (Dwight Morrow High School) – Bergen Community College

Middle School Scholars

Angelica Acio – David Owens Middle School

Remi Bachrach – Janis Dismus Middle School

Rebecca Gomez – Roy Brown Middle School

Ava Mattessich – Cresskill Middle School

Alyvia Polite- Benjamin Franklin Middle School

Yutaka Uchida – Leonia Middle School


Due to restrictions stemming from the pandemic, NVE was unable to host its annual scholarship ceremony, which includes the recipients and family, school administrators, and NVE’s board of directors, executive leadership, and branch managers. However, the students were recognized by their respective schools with virtual award ceremonies. Also, NVE mailed each recipient a congratulatory award letter.

A very special congratulations to these students, who overcame strange and unprecedented obstacles. We wish our latest class of scholars lots of luck and success!

To learn more about how NVE Bank supports our communities, or to learn about our extensive range of personal and business products and services, visit our website. You can also call us at 1-866-NVE BANK (683-2265) or visit us at one of our 11 branches conveniently located throughout Bergen County.

November  2019

NVE Bank Launches Thanksgiving Food Drive
Donations will benefit St. Cecelia's Office of Concern Food Pantry

Englewood, NJ, October 22, 2019 - NVE Bank has launched a bank-wide Thanksgiving food drive to benefit the families who rely upon the St. Cecilia Office of Concern Food Pantry.  Staffed completely by volunteers, the Office of Concern Food Pantry located at 55 West Demarest Avenue in Englewood, supplies weekly groceries to over 900 families in Englewood and surrounding communities, and is the largest single location food pantry in Bergen County.  NVE is asking for donations of non-perishable food items such as canned fruits and vegetables, pasta, breakfast cereals, cranberry sauce and stuffing.  Food donations will be accepted through Tuesday, November 19, 2019 at all 11 branches of NVE Bank.

"As a mutual bank, NVE has deep roots within the towns we serve and is committed to ensuring that our communities remain healthy and strong" commented Robert Rey, President & CEO of NVE Bank.  "Through our Food Drive, we hope to make Thanksgiving a little brighter for our neighbors in need".

NVE Bank, established in 1887, offers an extensive range of personal and business products and services. As a community mutual bank, NVE Bank is FDIC insured, doesn’t have stockholders and operates to benefit its customers and communities. The Bank maintains 11 offices conveniently located throughout Bergen County. For more information, please call their toll-free number 1-866-NVEBANK (683-2265) or visit their website at www.nve.bank.

October 2019

NVE Bank Sponsors Bergen-Passaic Heart Walk
Englewood Mutual Bank Donates $5,000 to the American Heart Association

Englewood, NJ, October 7, 2019 - NVE Bank served as a sponsor of the 2019 Bergen-Passaic Heart Walk held on October 6, 2019 at the Express-Scripts Campus in Franklin Lakes, New Jersey.  Employees of the Englewood-based community bank participated in the walk, which serves as a signature fundraising event of the American Heart Association.  In addition, NVE Bank donated $5,000 to the American Heart Association, supporting its efforts to reduce death and disability from cardiovascular diseases and stroke.  "Heart disease and stroke are the country's Number 1 and Number 4 killers" said NVE President and CEO Robert Rey.  "We have deep roots within the towns we serve and are committed to making a difference through our time and resources to ensure communities remain healthy and strong."

NVE Bank, established in 1887, offers an extensive range of personal and business products and services. As a community mutual bank, NVE Bank is FDIC insured, doesn’t have stockholders and operates to benefit its customers and communities. The Bank maintains 11 offices conveniently located throughout Bergen County. For more information, please call their toll-free number 1-866-NVEBANK (683-2265) or visit their website at www.nve.bank.

May 2019

NVE Bank Participates in National Rebuilding Day 2019
Bank Donates $7,500 to Rebuilding Together North Jersey

Englewood, NJ, May14, 2019 - NVE Bank participated in National Rebuilding Day as part of April's National Rebuilding Month by sponsoring a Rebuilding Together North Jersey project in Bergen County, NJ.  Bank employee volunteers assisted in repainting the Women's Rights Information Center on Palisade Avenue in Englewood, NJ.  "Investing in the communities where we live and work is part of our Bank's mission" said NVE President Robert Rey.  "We have deep roots within the towns we serve and are committed to making a difference through our time and resources to ensure communities remain healthy and strong".  

In addition to volunteer service, NVE also presented Rebuilding Together North Jersey with a $7,500 donation to assist with their mission of rebuilding homes, revitalizing communities and rebuilding lives.  Recipients of services include the elderly, disabled, military veterans and families in need, as well as community centers and nonprofit organizations serving those populations.

NVE Bank, established in 1887, offers an extensive range of personal and business products and services. As a community mutual bank, NVE Bank is FDIC insured, doesn’t have stockholders and operates to benefit its customers and communities. The Bank maintains 11 offices conveniently located throughout Bergen County. For more information, please call their toll-free number 1-866-NVEBANK (683-2265) or visit their website at www.nve.bank.

May 2019

NVE Bank's Cereal Food Drive Exceeds Goal

Staff and Customers Donate 680 Boxes of Breakfast Cereal

Englewood, NJ, May 2, 2019 - NVE Bank's Spring Cereal Food Drive resulted in the donation of 680 boxes of breakfast cereal to the Office of Concern Food Pantry, located at St. Cecilia's Church in Englewood, NJ. "This is NVE's 6th year conducting a Cereal Food Drive for the Office of Concern" said Robert Rey, President and CEO of NVE Bank. This year we set a goal of 600 boxes, and thanks to the generosity of our customers and staff members, we were able to substantially exceed that goal".

NVE Bank, established in 1887, offers an extensive range of personal and business products and services. As a community mutual bank, NVE Bank is FDIC insured, doesn’t have stockholders and operates to benefit its customers and communities. The Bank maintains 11 offices conveniently located throughout Bergen County. For more information, please call their toll-free number 1-866-NVEBANK (683-2265) or visit their website at www.nve.bank.

April 2019

NVE Bank is "Serving Breakfast" to Needy Families

Englewood, NJ, April 2, 2019 - NVE Bank has launched a bank-wide Cereal food drive to benefit Bergen County families who rely upon the St. Cecelia Office of Concern Food Pantry.  Staffed completely by volunteers, the Office of Concern Food Pantry, located at 55 West Demarest Avenue in Englewood, supplies weekly groceries to over 800 families in Bergen County communities.   The food drive, part of the Office of Concern's "Share Breakfast" program will help Pantry volunteers provide their clients with healthy and nutritious breakfast food choices.  Donations of non-perishable breakfast food items will be accepted through Tuesday, April 30th at all NVE Branches.

NVE Bank, established in 1887, offers an extensive range of personal and business products and services. As a community mutual bank, NVE Bank is FDIC insured, doesn’t have stockholders and operates to benefit its customers and communities. The Bank maintains 11 offices conveniently located throughout Bergen County. For more information, please call their toll-free number 1-866-NVEBANK (683-2265) or visit their website at www.nve.bank.

February 2019
NVE Bank Appoints Alex Marmolejos as Branch Manager

Englewood, NJ, February 28, 2019 – Robert Rey, President and Chief Executive Officer of NVE Bank, has announced that Alex Marmolejos has been appointed as a Branch Manager for NVE Bank.

Mr. Marmolejos has 8 years of banking experience, all spent at Wells Fargo Bank, where he most recently served as a Branch Manager in Parsippany, NJ.  He earned his Bachelor of Science degree in Marketing from the Technological University of Santiago.  Mr. Marmolejos resides in Paterson, New Jersey.

NVE Bank, established in 1887, offers an extensive range of personal and business products and services. As a community mutual bank, NVE Bank is FDIC insured, doesn’t have stockholders and operates to benefit its customers and communities. The Bank maintains 11 offices conveniently located throughout Bergen County. For more information, please call their toll-free number 1-866-NVEBANK (683-2265) or visit their website at www.nve.bank.

January 2019

NVE Bank Earns Elite 5-Star Rating
BauerFinancial Inc. Award Rating for 23rd Consecutive Quarter

Englewood, NJ,  January 1, 2019 – BauerFinancial Inc., the nation’s largest bank rating firm, has announced that NVE Bank has earned its coveted 5-Star Superior rating for the 23rd consecutive quarter. “A 5-Star rating indicates that NVE Bank is one of the strongest banks in the nation, excelling in such areas as capital, loan quality, profitability and much more”, said Karen L. Dorway, President of BauerFinancial. “Earning Bauer’s 5-Star designation proves that NVE Bank is getting it right.”

“Community banks aren’t pushing products or services on you that you don’t need or want” says Dorway. “They are there to provide a service and fill a need, which NVE Bank has been able to do seamlessly all while maintaining its pristine health.”

Established in 1887, the Englewood based community mutual bank has been servicing the people of northern New Jersey for 132 years. “As one of New Jersey’s strongest Mutual Banks, NVE has deep roots within the towns it serves and is singularly focused on helping our customers, local businesses and communities thrive”, said Robert Rey, President and CEO of NVE Bank. “Because we don’t have stockholders or the pressure to answer to Wall Street, we can concentrate on the people who really count…our customers”.

BauerFinancial, Inc., Coral Gables, Florida, the nation’s leading independent bank and credit union rating and research firm, has been reporting on and analyzing the performance of U.S. banks and credit unions since 1983. No institution can pay for or opt out of a BauerFinancial rating.

NVE Bank, established in 1887, offers an extensive range of personal and business products and services. As a community mutual bank, NVE Bank is FDIC insured, doesn’t have stockholders and operates to benefit its customers and communities. The Bank maintains 11 offices conveniently located throughout Bergen County. For more information, please call their toll-free number 1-866-NVEBANK (683-2265) or visit their website at www.nve.bank.

 

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