Introduction In the latter half of 2022 and the first half of 2023, the Federal Reserve embarked on an unprecedented rate hike cycle, raising interest rates from a historic low of 0.25% to 5.25%, in just 12 months. This aggressive monetary policy move, the fastest rate increases since the 1980s, has reverberated across financial markets …
Upon an appeal by the Bank, the New Jersey Supreme Court has ordered a stay in the effectiveness of an order by the Passaic County Superior Court. As part of that action the Supreme Court directed that the annual member meeting scheduled for January 21, 2022 be delayed until a final judgement is entered by …
We are excited to announce that we have closed on the Mariner’s Bank merger! This merger brings together two community-focused banks for increased value. We look forward to serving all our new customers. Welcome to Spencer! Learn More About Merger
Spencer Savings Bank, a leading New Jersey-based community bank, is donating $10,000 to the Research and Development Council of New Jersey to support the Governor’s STEM Scholars (www.govstemscholars.com), a program founded and established by the organization to support the state’s high-achieving STEM (science, technology, engineering and mathematics) students in New Jersey. The Governor’s STEM Scholars …
The holidays are here and some of you may still be wondering what to buy for the grandkids or special little people in your life. There is nothing like getting them a financial gift that will keep on giving – their adult selves will thank you! And remember, it does not have to be an …
The holidays are a joyous time for many, but it can also be a stressful one, particularly if you’re concerned about your finances. Gifts, dinners out and special events can get expensive, and the dollars add up quickly if you’re not careful. With a little planning and foresight, however, it’s possible to keep yourself from …
Spencer Savings Bank was pleased to continue its scholarship program this year and award almost $25,000 in scholarships to both high school and middle school students throughout New Jersey. The scholarships will help families in New Jersey pay for their child’s education. Students were selected, by their school, for high academic achievement and community service …
The end of the year will be here before you know it, and after that tax time will be right over the horizon. The steps you take now, before year-end, could have a profound impact on your tax bill when April rolls around. Time is running short, but you can still take steps to lower …
Your mobile device provides convenient access to your email, bank and social media accounts. Unfortunately, it can potentially provide the same convenient access for criminals. Spencer recommends following these tips to keep your information – and your money – safe. Use the passcode lock on your smartphone and other devices. This will make it more …
Every year, millions of consumers fall victim to cybercrime. According to the 2018 Norton Cyber Security Insights Report, 152 million U.S. consumers were victims of cybercrime – more than half of the country’s adult online population – with losses totaling over $11.5 billion. Spencer Savings Bank recommends the following tips to help keep your information …