Important Notice
Javascript must be enabled to view this website, please enable Javascript and reopen our website.
Skip to main content
  Important Information
Financial Center Updates & Important Information Read More

As the virus transmission rate continues to increase again in New Jersey, we’d like to inform you that we will be closing our lobbies to the general public effective Monday, December 7, 2020. If you need to conduct business inside one of our financial centers, you will be required to schedule an appointment.  However, we will be operating our drive-up facilities as normal.  Please see our revised hours of operation and financial center contact information. Financial Center Locations

Prior to visiting us, please check our “locations” section on the website for updated financial center accessibility.  We appreciate your patience as we do our part to protect you and our employees from the spread of COVID-19. Financial Center Locations

Learn about all the ways Spencer is creating a safe and secure environment. Read More

We continue to stay committed to you during this difficult period.  View an updated message from our Chairman and CEO. Read More

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  • Contributions and earnings can be withdrawn penalty-free after age 59½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  • Contributions (not earnings) can be withdrawn penalty-free, at any time
  • Contributions are not tax-deductible like Traditional IRAs.
Who Can Invest?
  • Anyone earning income and under 70½
  • Anyone earning income provided eligibility requirements are met.
Maximum Annual Contribution
  • $6,000 (below age 50)
  • $7,000 (age 50 and older)
  • $6,000 (below age 50)
  • $7,000 (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!