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  Holiday Closing & Important Update
We will be closed on Saturday, 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. Normal business hours will resume on Monday, July 6th. Read More

Our financial centers are now reopened with regularly scheduled hours for lobby and drive-up service. Spencer customers will now have full access to the lobby area of all our financial centers. We understand there are still concerns when visiting public spaces, such as these. To ease such concerns we have implemented a number of new safety practices and protocols that you will notice upon visiting our financial centers, all of which are designed to ensure a safe and secure environment for everyone that visits our bank. Read More

 

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.

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
  • FDIC insured up to $250,000 per depositor

 

Inquire Now

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.

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.

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!