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  Coronavirus Update

We are offering a SBA Paycheck Protection Program to support our business customers. Read More

On March 27, 2020, the Coronavirus Aid, Relief, and Economic Security (CARES) Act was signed into law. Among other forms of economic aid, the CARES Act provides businesses affected by COVID-19 with special assistance programs. One such Small Business Administration (SBA) program is the Paycheck Protection Program, which assists businesses with job retention and specific expenses. Spencer Savings Bank is proud to partner with FOUNTAINHEAD Commercial Capital / Small Business Finance, a top national SBA lender, to offer the Paycheck Protection Program for businesses in need. Please click on the link below to be directed to Fountainhead’s website where you can learn more about the Paycheck Protection Program and apply.

When completing the application, please indicate Spencer Savings Bank as the FastTrack Partner, and as the Referral Partner’s email address.

Spencer Savings Bank is committed to the safety, health and well-being of its customers and employees. As the country continues to deal with the impact of the Coronavirus (COVID-19), we want to take a moment to assure the community that we are closely monitoring the situation which is continuously evolving.

In response to the latest situation regarding this public health crisis, we are temporarily modifying how we conduct business at our financial centers to help minimize the potential spread of the virus. Effective Monday, March 30, 2020, we will be providing lobby service in our financial centers by appointment only. To make an appointment, please call the financial center between the hours of 9:00am – 5:00pm, Monday – Friday and 9:00am – 1:00pm on Saturday. Financial centers with a drive-up facility will continue to operate as usual during the same hours listed above, Monday- Saturday. In the best interest of the public health, if you need to process a teller transaction and your financial center has a drive-up facility, we are asking you to process all teller transactions at the drive-up only. Please know that every effort is being taken to ensure that the bank is able to meet all of your needs while we continue to follow the recommendations from the health authorities.

In addition to taking extra precautions to maintain the cleanliness of our bank locations, we continue to update and educate employees on virus information, as well as reduce employee contact. Please know that the bank has a Pandemic Plan in place with procedures and guidelines for the staff to follow to continue with all business activity.

We would like to take this opportunity to remind customers that most banking transactions do not require a visit to an office. Spencer offers a variety of ways to access your accounts and manage your money without having to visit a financial center. Banking can continue from the comfort of your own home. Most transactions can be handled with a call to our Customer Service Center, with your mobile device, online or at an ATM. Many locations also offer drive through features. All of these options reduce public interaction for both the customer and employee. If you want to explore any of these options, please call your local financial center or our Customer Service Center at 1-800-363-8115.

We also urge all customers to be extra vigilant during this time as there are increased incidents of fraud surrounding the virus announcement. The FDIC has released educational articles regarding this topic with more information.

This is a fluid and evolving situation. We will continue to update you with any new information that becomes available. Our customers are the heart of our business. Thank you for giving us the opportunity to continue to serve you. Together, we will all take the necessary precautions to successfully manage through this difficult time.

Let’s Grow Your Rental Portfolio

Successful real estate investors know the value of a lender who offers more than just a loan. Get personalized service, attractive rates, and a world of local market knowledge with an investment property mortgage from Spencer Savings Bank. We’re here to help you capitalize on a red-hot rental market. If you’re buying and selling properties, we are also experienced with 1031 Exchange transactions.  


Investment Property* Mortgage

  • Low 20% Down Payment
  • Borrow up to $1,000,000
  • Personally Deeded
  • Residential Properties (1-4 Family)
  • 2-4 Family Homes & Condominiums
  • 100% Local Lending Decisions

Recent Fundings


Location Saddle Brook
Term 7/1 ARM
Property 2 Family


Location Pallisades Park
Term 20 Year Fixed
Property 2 Family


Business Entity** (LLC) Mortgage

  • Low 20% Down Payment
  • Borrow up to $1,000,000
  • Business Deeded (LLC, Partnership, S Corp) for Asset Protection
  • Lower Closing Costs
  • Residential Properties (1-4 Family) & Condominiums
  • Mixed-Use (2-4 Units)
  • 100% Local Lending Decisions

Recent Fundings


Location Scotch Plains
Term 15 Year Fixed
Property 4 Family


Location Lyndhurst
Term 10/1 ARM
Property 2 Family


Mortgage Investment

We'll come to you! Call for a personalized appointment today.

Contact us today at 1-800-363-8115 to schedule a visit from one of our mortgage specialists at your home or office.

*Investment Property homes can be located throughout New Jersey; Bucks County, Pennsylvania; Brooklyn, Queens, Manhattan, Staten Island, Bronx, Rockland or Westchester County, New York. **Business Entity properties must be located in Bergen, Essex, Hudson, Hunterdon, Mercer, Middlesex, Morris, Passaic, Somerset, Sussex or Union County, New Jersey; Bucks County, Pennsylvania; Brooklyn, Queens, Manhattan, Staten Island, Bronx, Rockland or Westchester County, New York. To borrow throughout New Jersey, principal(s) must be an existing bank depositor.