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  A Message To Our Customers
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Today's Personal Rates

Rates as of March 23, 2023

Checking Account Description Minimum Deposit to Open Account and Obtain APY APY* Interest Rate Apply Now
(Desktop, Tablet or Mobile)
Kasasa Cash Checking***

$0.01 - $25,000
$25,000.01 or more
All balances when qualification requirements are not met.

2.00%
0.30%
0.05%
 
 

1.98%
0.30%
0.05%
 
 

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Kasasa Cash Back Checking***

$100

None

None

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Spencer Checking

$100

None

None

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Spencer Gold Checking**

$100

0.05%

0.05%

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Spencer Platinum Checking

$2,500 - $9,999.99
$10,000 - $34,999.99
$35,000 or more

0.05%
0.25%
0.30%

0.05%
0.25%
0.30%

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*APY = Annual Percentage Yield. Rates are subject to change without notice. Fees could reduce earnings on any of the accounts. Interest payments are rounded to the nearest cent. As a result, low balance accounts may not be paid interest. Available to individuals living in New Jersey.

***Kasasa Cash Back Monthly Qualification Cycle Requirements: To earn 5% cash back and ATM fee refunds, per statement cycle you must: Conduct 12 debit card transactions, have one direct deposit or one automatic ACH debit, establish and maintain a Spencer Online Banking relationship and elect to receive your monthly account statement electronically via Online Banking. Kasasa Cash Monthly Qualification Cycle Requirements: To earn 2.00% APY and ATM fee refunds, per statement cycle you must: Conduct at least 12 debit card purchases which post and clear your account within one statement cycle, have one direct deposit or one automatic ACH debit, establish and maintain a Spencer Online Banking relationship and elect to receive your monthly account statements electronically via Online Banking. The above interest rate 1.98% with an APY of 2.00% will be paid only for that portion of your daily balance that is $25,000 or less. An interest rate of 0.30% with an APY ranging from 0.64% to 2.00% depending on the balance in the account will be paid only for that portion of your daily balance that is more than $25,000. Kasasa Cash and Kasasa Cash Back are trademarks of Kasasa, Ltd., registered in the U.S.A. Click here for monthly qualification cycle information.

Savings Account Description Minimum Deposit to Open Account and Obtain APY APY* Interest Rate Apply Now
(Desktop, Tablet or Mobile)
SmartSaver Savings***

$100 - $4,999.99
$5,000 - $250,000
$250,000.01 or more

0.10%
0.75%
1.00%

0.10%
0.75%
1.00%

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SpencerKids Savings**

$1

0.50%

0.50%

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Statement Savings

$100 - $24,999.99
$25,000 or more

0.25%
0.50%

0.25%
0.50%

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Premium Money Market

$100 - $9,999.99
$10,000 or more

0.25%
3.25%

0.25%
3.20%

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E-Money Market

$500 - $4,999.99
$5,000 - $250,000
$250,000.01 or more

0.25%
2.00%
2.25%

0.25%
1.98%
2.24%

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Holiday Club Account

$5

0.25%

0.25%

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Platinum Savings

$100 - $4,999.99
$5,000 - $24,999.99
$25,000 - $49,999.99
$50,000 - $99,999.99
$100,000 or more

0.05%
0.10%
0.25%
1.50%
1.00%

0.05%
0.10%
0.25%
1.50%
1.00%

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Passbook Savings

$100 or more

0.50%

0.50%

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Vacation Club Account

$5

0.25%

0.25%

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*APY = Annual Percentage Yield. Rates are subject to change without notice. Fees could reduce earnings on any of the accounts. Interest payments are rounded to the nearest cent. As a result, low balance accounts may not be paid interest. Available to individuals living in New Jersey.

**Customer must be under 18 years of age to qualify for a SpencerKids Savings Account.

***SmartSaver Savings Account Requirements: Minimum $25 recurring monthly transfer from any Spencer Checking Account or a recurring monthly direct deposit into SmartSaver Account is required.

Certificate of Deposit (CD) Description Minimum Deposit to Open Account and Obtain APY APY* Interest Rate Apply Now
(Desktop, Tablet or Mobile)
3 Month

$1,000

0.10%

0.10%

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6 Month

$1,000

0.15%

0.15%

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12 Month

$1,000

0.20%

0.20%

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13 Month Promotion w/ Platinum Checking **

$1000

5.50

5.354

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13 Month Promotion w/o Platinum Checking **

$1000

5.00

4.879

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18 Month

$1,000

0.25%

0.25%

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20 Month

$1,000

0.20%

0.20%

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24 Month

$1,000

0.35%

0.35%

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30 Month

$1,000

0.45%

0.45%

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36 Month

$1,000

0.50%

0.50%

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48 Month

$1,000

0.55%

0.55%

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60 Month

$1,000

0.65%

0.65%

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*APY = Annual Percentage Yield

For CDs with terms of 12 months or longer, interest is compounded daily and credited monthly.  For CDs with terms less than 12 months, simple interest is paid monthly. Maximum deposit is $500,000. APY offered assumes interest remains on deposit until maturity. Spencer offers the convenience of automatic renewals. If either you or we prevent renewal, interest will not accrue after the final maturity. Early withdrawal penalties may be imposed and the fee could reduce principal.

Early withdrawals are subject to the following penalties;
•  Maturity of less than 1 year, loss of 30 days interest
•  Maturity of more than 1 year, but less than 36 months, loss of 90 days interest
•  Maturity of 36 months or more, loss of six (6) months interest

Premium APYs not available on promotional CDs. Rate may change after the account is open. Rates are subject to change without notice. Fees could reduce earnings on any of the accounts. Interest payments are rounded to the nearest cent. As a result, low balance accounts may not be paid interest. Available to individuals living in NJ.

** NEW MONEY ONLY.  “New Money” is defined as money not on deposit at Spencer Savings Bank. This offer is only valid on the 13-Month CD promotion. To qualify for the 5.50% APY, customer must maintain an active existing Platinum Checking Account or open a new Platinum Checking Account at the same time as CD account opening with the same tax identification number as the CD account holder. Limit of one account opening per tax identification number. Maximum deposit for 5.50% APY promotion is $50,000; and $25,000 for 5.00% APY promotion. Platinum Checking is a variable tiered rate checking account and has no monthly service charge if a minimum daily balance of $2,500 is maintained. Otherwise, a $15 Monthly Service Fee will apply. An active checking account is defined as an account that has multiple debits and credits coming in and out of the account on a monthly basis. Account Closing: If the Platinum Checking Account is closed by Spencer or the customer within 13 months of the opening date of the CD account, the promotional interest rate will be forfeited, and the account will be adjusted to reflect the 5.00% APY for the full term. A $1,000 minimum deposit is required to open the CD account and to obtain the stated APY. Offer may be withdrawn at any time.

IRA Account Description Minimum Deposit to Open Account and Obtain APY APY* Interest Rate Apply Now
(Desktop, Tablet or Mobile)
6 Month

$500

0.30%

0.30%

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IRA Savings

$100 - $999.99
$1,000 or more

0.05%
0.10%

0.05%
0.10%

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12 Month

$500

0.35%

0.35%

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13 Month Promotion w/ Platinum Checking **

$500

5.50

5.354

Contact Us
13 Month Promotion w/o Platinum Checking **

$500

5.00

4.879

Contact Us
18 Month

$500

0.40%

0.40%

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20 Month

$500

0.35%

0.35%

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24 Month

$500

0.50%

0.50%

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30 Month

$500

0.60%

0.60%

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36 Month

$500

0.65%

0.65%

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48 Month

$500

0.70%

0.70%

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60 Month

$500

0.80%

0.80%

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*APY = Annual Percentage Yield

Interest is compounded daily and credited monthly.  Stated rates are subject to change without notice. Maximum deposit is $500,000. APY offered assumes interest remains on deposit until maturity. Please contact your tax adviser for tax-deductible status. Spencer offers the convenience of automatic renewals. If either you or we prevent renewal, interest will not accrue after the final maturity. Early withdrawal penalties may be imposed and the fee could reduce principal.

Early withdrawals are subject to the following penalties;
•  Maturity of less than 1 year, loss of 30 days interest
•  Maturity of more than 1 year, but less than 36 months, loss of 90 days interest
•  Maturity of 36 months or more, loss of six (6) months interest

One term change is allowed per year if you are over 59 1/2 years of age without penalty.

Rates are subject to change without notice. Fees could reduce earnings on any of the accounts. Interest payments are rounded to the nearest cent.

Available to individuals living in NJ.

** NEW MONEY ONLY.  “New Money” is defined as money not on deposit at Spencer Savings Bank. This offer is only valid on the 13-Month IRA promotion. To qualify for the 5.50% APY, customer must maintain an active existing Platinum Checking Account or open a new Platinum Checking Account at the same time as IRA account opening with the same tax identification number as the IRA account holder. Limit of one account opening per tax identification number. Maximum deposit for 5.50% APY promotion is $50,000; and $25,000 for 5.00% APY promotion. Platinum Checking is a variable tiered rate checking account and has no monthly service charge if a minimum daily balance of $2,500 is maintained. Otherwise, a $15 Monthly Service Fee will apply. An active checking account is defined as an account that has multiple debits and credits coming in and out of the account on a monthly basis. Account Closing: If the Platinum Checking Account is closed by Spencer or the customer within 13 months of the opening date of the IRA account, the promotional interest rate will be forfeited, and the account will be adjusted to reflect the 5.00% APY for the full term. A $500 minimum deposit is required to open the IRA account and to obtain the stated APY. Offer may be withdrawn at any time.

Coverdell Description Minimum Deposit to Open Account and Obtain APY APY* Interest Rate Apply Now
(Desktop, Tablet or Mobile)
6 Month

$500

0.30%

0.30%

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12 Month

$500

0.35%

0.35%

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18 Month Variable**

$50

0.25%

0.25%

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18 Month

$500

0.40%

0.40%

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20 Month

$500

0.35%

0.35%

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24 Month

$500

0.50%

0.50%

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30 Month

$500

0.60%

0.60%

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36 Month

$500

0.65%

0.65%

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48 Month

$500

0.70%

0.70%

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60 Month

$500

0.80%

0.80%

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*APY= Annual Percentage Yield
**For this variable rate product, rate is subject to change after account opening.

CDs with terms of 12 months or longer, interest is compounded daily and credited monthly.  CDs with terms less than 12 months, simple interest is paid monthly. APY offered assumes interest remains on deposit until maturity. Please consult your tax advisor for tax-deductible status. Spencer offers the convenience of automatic renewals. If either you or we prevent renewal, interest will not accrue after the final maturity. Early withdrawal penalties may be imposed and the fee could reduce principal.

Early withdrawals are subject to the following penalties;
•  Maturity of less than 1 year, loss of 30 days interest
•  Maturity of more than 1 year, but less than 36 months, loss of 90 days interest
•  Maturity of 36 months or more, loss of six (6) months interest

Available to individuals living in NJ.