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SPENCER SAVINGS BANK DONATES $25,000 TO RED CROSS TO BENEFIT LOCAL HURRICAN IRENE VICTIMS

ELMWOOD PARK, NJ (September 29, 2011) – Spencer Savings Bank, a mutually-owned community savings bank headquartered in Elmwood Park, N.J., recently donated $25,000 to the Northern New Jersey Chapter of the American Red Cross. The funds will be used to aid flooding relief efforts in areas of New Jersey affected most by Hurricane Irene.

"There is a great need for support and resources in the areas affected by Hurricane Irene," said José B. Guerrero, Chairman, President and CEO of Spencer Savings Bank. "We understand the need and want to show our commitment by supporting efforts to rebuild communities throughout New Jersey."

In the aftermath of the storm, more than 1 million New Jersey residents lost power, making it difficult to address flooding in their homes and places of business, multiplying damages and costs incurred due to the flooding. The funds received by American Red Cross will provide relief to the many New Jersey families who suffered property damage as a result of the winds, flooding and power outages caused by Hurricane Irene.

The Red Cross operated 60 shelters throughout the state during the storm. Local chapters served nearly 301,000 meals and snacks since rescue efforts began on Aug. 26, 2011. Chapters throughout the state are still offering cleanup kits, mental health services and safety education.

"The Red Cross has been able to provide shelter, food, clothes and resources to a countless amount of New Jersey families affected by Hurricane Irene, and the help they provided in the state of emergency and its aftermath is immeasurable," Guerrero added. "We are proud to support their efforts as they help us to rebuild the communities in which we work and live."

For more information on this donation, or to learn more about Spencer Savings Bank, please visit www.spencersavings.com.

About Spencer Savings Bank:

Spencer Savings Bank, headquartered in Elmwood Park, New Jersey, is a community bank that has been serving its local communities with integrity and pride for over 70 years. The Bank, serving consumers and businesses, operates 19 branches throughout Northern New Jersey. Spencer Savings Bank has over $1.8 billion in total assets.