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  Holiday Closing & Security Information
Spencer Savings Bank will be closed on Friday, June 19th in observance of Juneteenth. For your convenience, account information can be accessed 24/7 through our online banking, mobile banking and telephone banking platforms. Read Full Message

Protect Yourself From Scammers!
The banking industry has seen an increase in fraud attempts targeting customers. Spencer will never request your one-time passcode/security code, online banking username, password, PIN via text, email, or phone, nor request that you establish an account at another bank to secure your account balances.

If you receive such a request, do not respond or provide any information. Instead, contact our Customer Service Center immediately at 1-800-363-8115, regardless of the message channel.

Traditional vs. Roth

Spencer’s IRAs are insured by the FDIC up to $250,000 per depositor.

Traditional IRA* Roth IRA*
Why Spencer?
  • Hassle-free rollovers and transfers
  • Minimum to open as low as $500
  • Variety of terms available to meet your needs
  • Hassle-free rollovers and transfers
  • Minimum to open as low as $500
  • Variety of terms available to meet your needs
Benefits
  • Tax-Deferred Earnings
  • Contributions and earnings can be withdrawn IRS penalty-free after age 59½
  • Contributions may be tax-deductible, provided that eligibility requirements are met.
  • Tax-Free Earnings
  • Contributions (not earnings) can be withdrawn IRS penalty-free, at any time
  • Contributions are not tax-deductible like Traditional IRAs.
Who Can Invest?
  • Anyone earning income provided eligibility requirements are met
  • Anyone earning income provided eligibility requirements are met.
Maximum Annual Contribution
  • $7,500 (below age 50)
  • $8,600 (age 50 and older)
  • $7,500 (below age 50)
  • $8,600 (age 50 and older)

*Please consult with your tax advisor regarding possible tax advantages and eligibility requirements.

Open Your Account Today

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