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  Elizabeth Financial Center Closing
Our Elizabeth Financial Center will be closed Saturday, April 13th, Monday, April 15th and Tuesday, April 16th due to Financial Center repairs. This location will reopen on Wednesday, April 17th. Read More

For your convenience, please visit one of the following full-service locations during this time:

Union Financial Center
1350 Galloping Hill Rd.
Union, NJ 07083
908-289-1770

Cranford Financial Center
213 South Avenue
Cranford, NJ 07016
908-653-1720

Account information can also be accessed 24/7 through our online banking, mobile banking and telephone banking platforms. We apologize for the inconvenience.

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!