Frequently Asked Questions - Conversion Weekend
- What is the system conversion?
On November 1, 2019, Industrial Bank purchased City National Bank of New Jersey. Over the weekend of June 6th, both banking systems will integrate, allowing all customers of Industrial Bank to utilize any Industrial Bank banking center to conduct financial transactions.
- During the conversion weekend, will I still be able to access my accounts?
Yes, account access will be available during the conversion – but in a limited capacity. Please refer to the schedule above for more information on branch closures, service interruptions, and more.
- Will my information be secure throughout the upgrade?
Yes, your security is always our top priority, and your account information will remain protected as we complete this upgrade.
- Will I be able to use ATM’s?
All Newark, NJ and New York Industrial Bank ATMs will be out of service Friday, June 5th at 3pm until Monday, June 8th at 9am. During this time, your debit cards will be in an offline status, causing limited withdrawal cash amounts and point-of-sale transactions. Please plan accordingly. You will also have access to over 55,000 ATMs through the Allpoint® network for limited withdrawal cash amounts.
- How will the conversion impact automatic withdrawals and direct deposits?
All automatic withdrawals, direct deposits, Online Bill Pay and internal transfers will automatically convert to the Industrial Bank system. You will not need to do anything. For online bill pay users, it is highly recommended that you keep a record of your payee information and scheduled payments so you can verify that everything has converted properly after Monday June 8th.
- Do I need to change the routing number for my checks?
Industrial Bank’s routing number is 054000959. However, we will continue to support the City National Bank’s routing number (021201639). Please update your routing number to 054000959 after June 8th at your convenience.
- How will the conversion impact telephone banking?
You will be able to access your personal and/or business account(s) beginning June 8th at 9:00am to perform routine banking tasks by calling 800-205-0840
- Will I receive a new debit card?
You will receive a new Industrial Bank Visa® debit card in the mail with instructions on how to activate your new card and select a PIN. You will receive this card approximately 2 -3 weeks after the conversion. You may continue to use your City National Bank debit card until you receive your new card.
- Do I need to re-enroll in Personal Online Banking?
You do NOT need to re-enroll in Personal Online Banking if you currently have Online Banking with City National Bank. Your existing City National Bank login ID and password will convert and can be used to log in to the Industrial Bank Online Banking System. Your security challenge questions will also convert to the Industrial Bank Online Banking platform. Please make sure you know the answers prior to logging in for the first time.
- Will I continue to receive my eStatements?
If you are currently enrolled eStatements, you will continue to receive your statements electronically. You do NOT need to re-enroll.
- Will I be able to use the City National Bank mobile app?
The City National Bank mobile app will be in view only mode beginning at 3pm on June 5th. This means you will only be able to view your account balances and transaction history. Beginning June 8th, at approximately 9am, you will be able to log into the Industrial Bank mobile app and utilize all its features.
- Do I need to re-enroll in Business Online Banking?
You do not need to re-enroll in Business Online Banking if you currently have an Online Banking profile with City National Bank. Your existing City National Bank Online login ID and password will convert to the Industrial Bank Online Banking system.
- Will my current token work in the Industrial Bank Business Online banking system?
- Can I maintain my current security challenge questions used for logging into Business Online Banking?
Yes, your current security challenge questions will convert to the Industrial Bank system. You will be prompted to answer these questions the first time you log in to the Industrial Bank Business Online Banking platform. We encourage you to make sure you know your current login ID prior to logging in for the first time.
- Will I need to reset my current bill pay payees in Business Online Bill Pay?
Your current Bill Pay payees, scheduled payments and activity history will automatically convert to the Industrial Bank system and will show once you sign in to Industrial Bank Online Banking, beginning Monday June 8th.
- Will I need to recreate my ACH and Wire templates in Business Online Banking?
All ACH and Wire templates will transfer to the Industrial Bank Business Online Banking system.
Account Transition Guide
This guide will tell you everything you need to know about your bank account transition to Industrial Bank.
Personal and business account transition will occur between 3:00 pm on Friday, June 5, 2020, and 9:00 am on Monday, June 8, 2020.
Over the weekend of June 6th, both banking systems will integrate, allowing all customers of Industrial Bank to utilize any banking center to conduct financial transactions. You may have received a welcome guide in the mail that provides you with the information that you need to know about the transition of your accounts and banking services. We have highlighted the important information and have included details about new and exciting product offerings that will empower you to better manage your finances. Our team is here to support and guide you over the coming weeks to ensure a smooth transition to Industrial Bank.
FRIDAY, JUNE 5, 2020
On Friday, June 5th, the Newark banking center located at Halsey Street and the Harlem banking center will both close at 5:00 pm. The Newark banking center at Bergen Street will close at its normal Friday time, 3:30 pm. Beginning at 3:00 pm, Business Online Banking will be unavailable. The following features will not be functional:
- ACH/Wire Access
- Remote Deposit Capture
- Bill Pay
- Mobile Banking
- Online Banking
- Telephone Banking
Beginning at 3:00 pm, Personal Online Banking and Small Business Online Banking will be in view/inquiry-only mode. This means you will only be able to view your account balances and transaction history as of 3:00 pm on June 5th.
IMPORTANT: ATM ACCOUNT ACCESS
All Newark, New Jersey, and New York Industrial Bank ATMs will be out of service Friday, June 5th at 3:00 pm until Sunday, June 7th at 11:59 pm. During this time, your debit cards will be in an offline status, causing limited access to cash and point-of-sale transactions. Please plan accordingly
You will still have access to over 55,000 ATMs through the Allpoint® network for your limited funds. Please visit allpointnetwork.com for ATM locations near you.
ATM and debit card activity will be fully operational on Monday, June 8th.
SATURDAY, JUNE 6, 2020
Due to the transition, both Newark banking centers and the Harlem banking center will be CLOSED on Saturday, June 6th.
Please note that you will NOT be able to perform any transactions at either of the two Newark banking centers or the Harlem banking center during this time.
MONDAY, JUNE 8, 2020
The following systems will be up and running by approximately 9:00 am:
- Mobile Banking
- Online Banking
- Bill Pay
- Telephone Banking
- ACH/Wire Access
- Remote Deposit Capture
Beginning Monday, June 8th, both the Newark banking centers and the Harlem banking center will offer extended lobby hours as follows:
- Monday – Thursday: 9:00 am – 5:00 pm
- Friday: 9:00 am – 6:00 pm
- Saturday: 9:00 am – 1:00 pm
Welcome to Industrial Bank
Since 1934, Industrial Bank has played a pivotal role in the growth and economic development of the Washington, DC metropolitan area through its essential products and services, customer care and community service. On Friday, November 1, 2019, the Bank announced it has acquired City National Bank of New Jersey, with two branches in New Jersey and one branch in Harlem, New York.
“We’re excited about welcoming City National Bank’s customers and teammates to the Industrial Bank family.” stated Industrial Bank President and CEO B. Doyle Mitchell, Jr.. “This acquisition will allow us to expand our footprint into the northeast region and deepen our commitment to impacting economic development in various communities”.
Much like Industrial Bank, City National Bank was started to fill a great economic void within the African American community whose access to credit and banking services was historically limited. We consider this more of a partnership than an acquisition as we have enjoyed a long-standing relationship with City National Bank and its great team of bankers who share our common values and commitment to community service.
On top of loan awards and financial services, as a Community Development Financial Institution (CDFI), Industrial Bank reinvests over 60% of its assets back into the community every year and continues to activate and support community programs. Bank President B. Doyle Mitchell, Jr., as did his father and grandfather before him, still believes in the importance and power of financial education, entrepreneurship and home ownership.
Please be advised you will not receive any email notification to claim, unlock or suspend your account or to provide any private information from City National Bank or Industrial Bank. Please be aware of any phishing scams to obtain information from you.
FDIC Press Release
Industrial Bank Press Release
Official FDIC press release
Official Industrial Bank Press Release
Frequently Asked Questions
Who is Industrial Bank?
We are the only African American family owned community bank in the Washington D.C. Area founded by Jesse H. Mitchell on August 20, 1934. Since its inception, our vision remains the same, to provide relevant products and services with incomparable customer care and provide financial education that enhances the quality of life for all. We are champions in supporting our communities through partnerships and volunteerism. For 85 years, Industrial Bank has remained a vital economic force and an inspiration to the communities we serve.
Will City National Bank of New Jersey’s name change?
Yes, City National Bank of NJ will become Industrial Bank
Will all the current City National Bank of NJ branch staff remain in the branches?
Yes, we are committed to ensuring our customers receive continuous quality care.
Will any branches close?
No, all City National Bank of NJ branches will remain open and will be renamed Industrial Bank.
Will any of the branch hours change?
No, each branch will maintain their current hours.
Will I have a new account number?
No, your account number will remain the same.
Will my accounts still be FDIC insured?
Yes, your accounts are still insured by the FDIC up to $250,000, the maximum allowed by law. If you currently have deposits at both City National and Industrial Bank, those accounts will remain separately insured for up to six (6) months to allow for restructuring. To learn more about deposit insurance and the options for FDIC coverage, please visit www.fdic.gov.
Will I receive a new debit card?
Yes, you will receive a new Industrial Bank branded debit card. However, your current City National Bank of NJ debit card will still work until you receive and activate your new Industrial Bank debit card.
Will I be able to use the checks I have on-hand that have City National Bank of NJ printed on them?
Yes, you can use these checks until further notice. We will provide sufficient notice to current City National Bank of NJ customers of when Industrial Bank branded checks will need to be ordered.
Will the City National Bank of NJ routing number change?
The routing number will change in a few months, however you will receive adequate advance notice before it changes.
Do I continue to make my City National Bank loan payments?
Yes, you will continue to make your loan payments in accordance to your loan agreement.
Will the City National Bank of NJ website change?
Yes, you will be directed to the Industrial Bank website where you will be able to access your accounts online and utilize other online banking services.
What number do I call for account related questions?
We have a qualified customer client service center with staff available to answer all of your account related questions. You may call 1-800-966-8262. For online banking questions, please call 855-816-2627.