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  Closing & Important Updates
We will be closed on Thursday, November 26th in observance of Thanksgiving Day. For your convenience, account information can be accessed 24/7 through our online banking, mobile banking and telephone banking platforms. Read More

We are here for you. Important Updates Regarding Coronavirus.

Learn about all the ways Spencer is creating a safe and secure environment. Read More

We continue to stay committed to you during this difficult period. View an updated message from our Chairman, President and CEO. Read More

The Passaic Street (Garfield) location is currently closed. During this time, please visit one of our alternate financial centers if needed. Bank Locations

SpencerFlex Line of Credit

A SpencerFlex Line of Credit is ideal for people who borrow and repay large amounts of money over short periods of time, or for those who wish to have a cash resource available for unexpected expenses. This home equity loan type may be the ideal solution for home improvements, paying down higher rate balances, financing a major purchase or funding educational expenses. With our unique “Flex” conversion feature, you have the option of locking in a fixed rate on all or part of your current balance with a ($25,000 minimum), without having to reapply.

SpencerFlex Rate Box

SpencerFlex Line of Credit features:

  • Variable Interest Rate
  • Convenient Credit Line Checkbook
  • Potential Tax Benefits (consult your tax advisor)
  • Replenishing Credit as Payments Are Made
  • Interest Charged on Outstanding Balance

Open Your Account Today

Apply online, visit your local Financial Center, or call us at 1-800-363-8115 today!

 

*APR=Annual Percentage Rate. Property must be an owner-occupied 1-4 family home in New Jersey or Bucks County, PA. Application Fees as follows: Lines up to $150,000: $150. (Waived for 1st time applicants). Lines above $150,000 up to $249,999: $225 (1 family), $450 (2-4 family), Lines of $250,000 or more: $300 (1 family), $450 (2-4 family): however, if the line is secured by a property 2,800 square feet or more a fee of $500 will be charged. Commitment Fee of $150 (waived if at least $25,000 is drawn at closing to pay creditors other than Spencer Savings). Optional Conversion Fee of $75 ($125 in the first year). Early Termination Fee if line is closed within the first 24 months: $300 (lines up to $100,000) or $500 (lines above $100,000). As of 07/31/20 the Prime Rate as published in the Wall Street Journal was 3.25% resulting in a rate of 3.25%. There is a Maximum Rate of 13.99% and a Floor Rate of 3.25%. Property Insurance is required. Flood Insurance may be required. Rates and terms are subject to change without notice. All loans are subject to credit approval.