Spencer Savings Bank Receives Financial Capability Innovation Award from EVERFIMay 21, 2018

EverFi Award Ceo and EverFi employee

Spencer Savings Bank was honored with the 2018 Financial Capability Innovation Award presented by the nation’s leading technology innovator, EVERFI, Inc. The award recognizes Spencer’s significant efforts to improve the financial capability of Americans through unique digital learning initiatives. “As a financial institution we understand the importance of proper money management and want to spread …

Spencer Savings Bank Celebrates “Teach Children To Save Day” in CranfordMay 4, 2018

Teach Children To Save Day

Spencer Savings Bank recently celebrated “Teach Children To Save Day” in Cranford. The program, sponsored by the American Bankers Association, helps teach young people the value of saving. Employees from across the bank were excited to volunteer their time and help promote financial literacy. Hundreds of 4th and 5th grade students at the Livingston, Hillside …

How To Use A Home Equity Loan For Home ImprovementMay 2, 2018

Home Equity Loan House and Calculator

Outdated finishes, flooring or carpet that has seen better days, a bathroom and kitchen that are original to the home, built decades ago. Does this sound like your home? If you own your home and don’t have the cash to update your home, a home equity loan for home improvement may be the solution for …

Spencer Savings Bank Selects Westfield, N.J. as Site of New Banking ConceptApril 11, 2018

Spencer Savings Bank New Concept

Spencer Savings Bank, a community bank headquartered in Elmwood Park, N.J., has selected Westfield, N.J. as the site for its new, technologically advanced “Financial Center”, a unique combination of a banking center and loan production office. The Westfield Financial Center will showcase the latest transaction technology to optimize check cashing, deposits, loan payments, and other …

Spencer Savings Bank Raises Over $100,000April 4, 2018

Spencer Supports Special Olympics NJ

Spencer Savings Bank has raised over $100,000 for Special Olympics New Jersey, with its 7th year New York Football Giants Snowbowl participation. Special Olympics is celebrating its 50th Anniversary this year, and Spencer was proud to mark their participation in this fundraiser which supports sports competition and training for over 25,000 Special Olympics New Jersey …

Person vs Business: What’s the Best Way to Invest in Real Estate?April 2, 2018

Investment Real Estate Banner

Investing in real estate can be a great way to diversify your financial investments and maximize your earnings. Real estate is an asset that typically increases in value – especially in New Jersey, the most densely populated state in the U.S., New York City and the surrounding area. When purchasing an investment property, there are …

Spencer Savings Bank Completes Merger with Wawel BankMarch 27, 2018

Welcome Wawel Bank Customers

Spencer Savings Bank today announced the closing of its merger transaction with Wawel Bank. The transaction closed on March 26, 2018. Full integration of Wawel Bank’s systems is expected to be completed in July. Pursuant to the merger agreement, each shareholder of Wawel Bank stock will receive $3.92 per share. Spencer Savings Bank will pay …

Know the Different Types of Commercial LoansMarch 15, 2018

Spencer Savings Bank - Types of Commercial Loans

Commercial investments require thought, planning and most importantly: capital. If you’re looking to make a big commercial investment, you need to consider how you’re going to fund it. Do you need to borrow to cover your expenditure? If that’s the case, commercial loans are available to help you give you the capital you need to …