How it Works
Open a 23-Month IRA account and earn an exclusive and competitive APY on your retirement funds. Customers with any non-interest bearing checking account (with balances of $500-$500,000) will be eligible to receive the 4.50% APY*. New Money Only**.
Don’t have a Spencer checking account? Don’t worry! You can still earn up to 3.50% APY* (with balances of $500-$250,000). New Money Only**.
Now, you can build greater financial security with competitive rates designed to support your retirement goals.
Bank and Invest in One Place
Already have an IRA at another financial institution or a 401(k) from a previous employer? Our team can help you easily transfer the account to Spencer Savings Bank. When you roll your IRA over to Spencer, you can reap the benefits of:
- Zero rollover fees
- A simple, stress-free rollover process – We’ll handle the paperwork for you!
Plus! All rollovers qualify for this promotional offer.
Make Your Contributions or Consolidate Your Retirement Savings Today!
Visit your local Financial Center or speak with a Relationship Manager to lock in this special rate.
*APY=Annual Percentage Yield. A $500 minimum deposit is required to open the 23-Month IRA account and to obtain the stated APY. Interest is compounded daily and credited monthly. APY assumes interest remains on deposit until maturity. A penalty will be imposed for premature withdrawals. To qualify for the 4.50% APY, customer must maintain an active existing, or open, a Non-Interest-Bearing Checking at the same time as IRA account opening with the same tax-identification number as the IRA account holder and maintain a daily minimum balance of $5,000 for the duration of the promotion. An active checking account is defined as an account that has multiple debits and credits coming in and out of the account monthly. Example Non-Interest-Bearing Checking – Kasasa Cash Back Checking is a non-interest bearing checking account and has no monthly service charge. There is a $100 minimum balance to open a Kasasa Cash Back Checking Account. Maximum deposit for 4.50% APY promotion is $500,000; and $250,000 for the 3.50% APY promotion per tax-ID. Limit one account per tax-ID. Account Closing: If the Checking Account is closed by Spencer or the customer within the duration of the initial 23-month term of the IRA account, the promotional interest rate will be forfeited, and the account will be adjusted to reflect the 3.50% APY for the remaining term. Fees may reduce earnings on account. One rate and term change is allowed per year, if you are over 59 1/2 years of age, without penalty. Consult your tax advisor. Available to individuals who are primary residents of NJ and currently living in NJ or former NJM Bank customers who currently maintain an existing deposit account and who are primary residents of and live in Bucks County, PA. APY is accurate as of 3/01/2026. Offers may be withdrawn at any time. **NEW MONEY ONLY. New Money is defined as money not on deposit at Spencer Savings Bank.