Leadership Lessons from a Colonel of Marines

Richard Vaill

He was built like an Offensive Lineman, stood 6’4” and was a recipient of the Silver Star for heroism in Vietnam. This was one tough Marine. After two overseas deployments and almost four years with 2nd Marine Division as a Platoon Commander, I was leaving Active Duty in less than 12 months. I received a set …

Spencer Savings Bank Donates $100,000 To NJ Hospitals Battling The Coronavirus Pandemic

Medical Staff thank you to our healthcare heores

Spencer Savings Bank recently made a $100,000 donation to support NJ hospitals battling the coronavirus pandemic. A donation of $50,000 was made to Hackensack University Medical Center in Bergen County and Trinitas Regional Medical Center in Union County. “We are so grateful to Spencer Savings Bank for their generous donation of $50,000 to Hackensack University …

Carmen Rivera Honored With Groundwork Elizabeth Award

Carmen Rivera Award

We are excited to announce that Carmen Rivera, Vice President and Market Manager, was recently honored with the “Outstanding Conservation Partner Award” by Groundwork Elizabeth. The presentation took place on February 19th at the Hilton Newark Airport Hotel in Elizabeth, during the organization’s Winter-Green Gala. “I’ve known Carmen for over a decade and she is …

Welcoming New Vice President and Business Development Officer Team Leader

Richard Vaill

The bank is expanding its Retail Banking Business team with the addition of a new business development team leader. We recently hired Vice President Richard Vaill as Business Development Officer Team Leader. With over 25 years of experience working in the industry, in both sales and management roles, Vaill will be based in Parsippany and …

2020 Annual Meeting

Nicholas Lorusso and Barry Minkin standing next to each other in black suits, with red ties.

Spencer Savings Bank has announced the re-election of Nicholas Lorusso and Barry Minkin to the bank’s Board of Directors, for a term of three years. The election was announced at its Annual Meeting, held at the Royal Manor in Garfield, on January 23, 2020. “Spencer is pleased to announce the re-election of Mr. Lorusso and …

Spencer Welcomes Sid Vaidya as C&I Relationship Manager and Vice President

Sid Vidaya

We recently announced the expansion of our Commercial and Industrial Lending team with the addition of a new lending expert to meet the growing demands of the division. The team is excited to welcome Vice President Sid Vaidya as C&I Relationship Manager. With over a decade of strong experience working in the commercial lending industry, …

Spencer Partners With Habitat for Humanity – Donates $6,500

Habitat for Humanity

Spencer Savings Bank recently partnered with Habitat for Humanity to help provide a “Hand Up” to community members looking to achieve their home ownership dreams. The organization is dedicated to improving the lives and communities by providing decent and affordable homes for hard-working families. The bank made a $6,500 donation to the Paterson, Bergen, Morris, …

Relationship Banking At Its Finest!

Juan Oelefse

Juan Oelofse, Senior Vice President & Director of Commercial and Industrial Lending at Spencer Savings Bank, recently explained how a local, community approach to banking best serves both business and personal customers alike. The Spencer touch, exemplifying relationship banking at its finest, really goes a long way in producing strong advocates in the industry for the bank. Please …