Spencer Savings Bank, one of New Jersey’s strongest community banks, is pleased to welcome Sergio Musacchio as Senior Vice President and Director of Small Business Finance. Musacchio will be overseeing the bank’s Small Business Lending division where he will implement new small business lending and deposit products while ensuring the bank’s strong credit culture is …
Introduction In the latter half of 2022 and the first half of 2023, the Federal Reserve embarked on an unprecedented rate hike cycle, raising interest rates from a historic low of 0.25% to 5.25%, in just 12 months. This aggressive monetary policy move, the fastest rate increases since the 1980s, has reverberated across financial markets …
Spencer Savings Bank is pleased to announce that it has awarded $37,500 in scholarships to local high school graduates. The scholarships are bestowed yearly to exceptional students in New Jersey. The students each received a $1,500 scholarship for college tuition assistance. Since the commencement of the bank’s scholarship program in 2002, over $600,000 in scholarships …
Congratulations to our entire team on recently receiving an “Outstanding” CRA rating from the Federal Deposit Insurance Corporation (FDIC)! The Community Reinvestment Act (CRA) encourages banks to help meet the credit needs of the communities they serve, including low and moderate income (LMI) neighborhoods. An “Outstanding” rating signifies the bank has an outstanding record of …
Spencer Savings Bank is pleased to announce the promotion of Mercedes Pedrick to Senior Vice President and Director of Home Finance. Mercedes has assumed leadership of the newly formed Home Finance group, which provides financing on all 1-4 family properties. “We are pleased to announce the promotion of Mercedes M. Pedrick to Senior Vice President …
Spencer Savings Bank is pleased to announce the promotion of Angelica Kline to Vice President, Customer Service Manager. Kline is responsible for leading the customer service center team in delivering outstanding customer service and support to all bank customers, as well as the daily operations and management of the center. “Angelica Kline is a consummate …
Spencer Savings Bank, one of New Jersey’s leading community banks, is pleased to welcome Rima Samman as the new Financial Center Manager of the Spencer Savings Bank Ewing location. The financial center is located at TCNJ (The College of New Jersey) campus – 200 Campus Town Circle. Rima is responsible for leading and managing customer …
Spencer Savings Bank is pleased to welcome Michael Fuoco as Senior Vice President and Director of Retail Sales/Service. Fuoco will be responsible for leading and overseeing the Retail Financial Center Network, Customer Service Center, Small Business Lending and Retail Sales Administration. Fuoco has held a variety of senior leadership roles at one of the country’s …
Spencer Savings Bank is pleased to welcome Jose Torres as the new Financial Center Manager of its Clifton location (908 Van Houten Avenue). He is responsible for leading and managing customer relationship development, local community engagement and the day-to-day operations of the center. “Jose has been a strong addition to our Spencer team, and we …
Spencer Savings Bank recently announced the appointment of Michael Fasano to its board of directors. Fasano joins Spencer Savings Bank, one of New Jersey’s strongest community banks, to support the bank in providing consumers, business owners and community organizations the best that community banking has to offer. Fasano has over two decades of commercial real …