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  Holiday Closing & Passaic Street Financial Center Closure
Spencer Savings Bank will be closed on Friday, July 4th in observance of Independence Day. For your convenience, account information can be accessed 24/7 through our online banking, mobile banking and telephone banking platforms. Read Full Message

Please be advised that our Passaic Street Financial Center will be CLOSED due to unforeseen maintenance.

Please visit one of our nearest full-service locations during this time.

Outwater Lane Financial Center | Elmwood Park Financial Center

We apologize for the inconvenience and look forward to continuing to serve your banking needs.

Individual Retirement Accounts (IRAs)

Every Adventure Starts with Saving

In addition to this attractive rate, Spencer’s NJ IRA accounts allow for one annual penalty-free rate and term change for customers over 59 1/2 years of age.

An Individual Retirement Account (IRA) can be an effective retirement tool. An IRA from Spencer is exclusively designed to provide you with tax advantages while you save for retirement. There are two types available – Traditional and Roth. Opening an IRA now and contributing to it regularly can create a secure retirement scenario for your future. Consult with your tax advisor regarding possible tax advantages.

Both of our NJ IRA options feature:

  • Competitive Annual Percentage Yields
  • Hassle-free rollovers and transfers
  • Minimum to open as low as $500
  • Variety of terms available to meet your needs

 

Inquire Now

Traditional IRA

A Traditional IRA allows you to set aside money for retirement while earning interest and offering tax advantages. Amounts in IRA, including earnings, generally are not taxed until distributed.

Roth IRA

A Roth IRA is also a great vehicle for retirement savings that offers interest on contributions and tax advantages. This IRA type offers tax-exempt withdrawals from the plan during retirement.

Traditional vs. Roth

If you are unsure which NJ IRA option is best for you, compare the advantages of each IRA type by clicking on this helpful chart or speak to your tax advisor.

Open Your Account Today

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