Cross River Bank, a technology-focused financial services organization and Banking-as-a-Service (“BaaS”) provider based in Fort Lee, announced the grand opening of its new headquarters at 2115 Linwood Avenue. At a ribbon-cutting ceremony yesterday, Cross River was joined by New Jersey leaders and elected officials, as well as Cross River board members and investors.
“We are immensely proud that in calling New Jersey home, Cross River has recognized the wealth of advantages our state has to offer, including one of the most diverse and educated workforces in the country,” said Governor Phil Murphy. “Cross River and companies like them are exactly the type of innovative firms that will help bring our state once again to the forefront of the innovation economy.”
“There is one address in the fintech industry, and that is Cross River. Our new headquarters is emblematic of our growth here in New Jersey, but more importantly, plants the seed of the future for Cross River,” said Gilles Gade, founder, CEO and chairman of Cross River. “We thank Gov. Phil Murphy and the NJEDA for their support and we’re thrilled to celebrate this momentous occasion with the entire Cross River family, together with our community partners and neighbors who have been right beside us from the very beginning.”
Cross River merges the forward-thinking offerings of a technology company with the established expertise of a bank, while maintaining a strong focus on regulatory compliance and consumer protection. As a New Jersey state-chartered community bank, Cross River has demonstrated firsthand how the state’s structure and support has played an integral role in propelling economic advancement, innovation and increased investment opportunities. Under the leadership of Governor Murphy and the New Jersey Economic Development Authority (NJEDA) led by Tim Sullivan, Cross River was awarded a Grow NJ Grant to help purchase a new 70,000-square-foot building in Fort Lee. Since announced in 2019, Cross River has already hired more than 400 team members, nearly doubling its workforce in New Jersey.
“Attracting and supporting the growth of innovative companies that create good-paying jobs for New Jersey workers and support the success of other emerging New Jersey businesses is central to Governor Phil Murphy’s plan for a stronger, fairer New Jersey economy,” said New Jersey Economic Development Authority CEO Tim Sullivan. “In addition to creating hundreds of new jobs, Cross River is committed to helping entrepreneurs overcome challenges by improving access to capital and offering educational resources that help to prepare them for future opportunities. The NJEDA congratulates Cross River on opening this new office, and we are excited for their continued growth in New Jersey.”
“Cross River represents the true spirit of the state of New Jersey—innovative, forward-thinking and hyper-community focused,” said Fort Lee Mayor Mark Sokolich. “Fort Lee is incredibly excited to continue to be the home for Cross River, and we look forward to the company’s continued growth and success here.”
Cross River is at the forefront of both banking and technology, powering some of the most successful companies like Affirm, Coinbase, Rocket Loans, Stripe and Upstart. Having opened its doors in Teaneck in June of 2008 with the primary goal of providing access to responsible credit products for businesses and consumers in need, Cross River has flourished in the state as a result of its public-private collaboration and the support of the local legislators and organizations like the NJEDA, Choose New Jersey, the New Jersey-Israel Commission and the New Jersey Bankers Association.
“The talent in New Jersey and the region has been one of the key ingredients to our success and growth as a leading fintech company,” said David Nachbar, global head of people at Cross River. “We have the best and the brightest people, the vast majority of whom live close by, right here in New Jersey.”
A pillar of the New Jersey community, Cross River has driven innovation and job creation in the state, with a strong focus on giving back. Cross River’s substantial impact on the advancement of industry standards and accomplishments as an outstanding corporate citizen has been recognized by both national and local organizations including the American Bankers Association, the Independent Community Bankers of America, NJBIZ, TechUnited:NJ and the Teaneck and Fort Lee Chambers of Commerce.
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