Important Notice

Javascript must be enabled to view this website, please enable Javascript and reopen our website.
Skip to main content
  Coronavirus Update

Spencer Savings Bank is committed to the safety, health and well-being of its customers and employees. Read More

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.

Construction Loan

Starting a construction project can be a very significant undertaking. Take some weight off your shoulders by partnering with Spencer for a commercial construction loan. Spencer specializes in construction financing and will work with you to custom tailor your loan. Our lending expertise and local decision making translate into an expedient and hassle-free borrowing experience. We offer financing for multi-family properties. See just how easy it is to grow your business with Spencer!

We work with real estate developers in New Jersey to provide construction loans with financing amounts up to $15 million and terms from 6 months to 2 years. Financing is available for multi-family properties. Spencer offers competitive pricing, local decision-making and service excellence.

A Spencer commercial real estate lender can help explain the various financing options and help customize a construction loan that’s right for you.

Recently Closed Transactions
$7,300,000
29 Units/Apartment Bldg.
Construction Loan
Upper Manhattan, NY
$2,500,000
13 Unit Retail/Apartment Bldg.
Construction Loan
Passaic, NJ
$3,400,000
19 Units/Apartment Bldg.
Construction Loan
Hamilton, NJ
$8,600,000
127 Units/Apartment Bldg.
Construction Loan
Philadelphia, PA

Contact Us Today

Michael Claisse

SVP & Director of CRE Lending 1-201-703-3800 ext. 8344

David DeNooyer

VP & Team Leader 1-201-703-3800 Ext. 8349