Rates as of October 1, 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 |
2.00% |
1.98% |
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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 |
0.05% |
0.05% |
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| E-Money Market | $500 - $4,999.99 |
0.25% |
0.25% |
Contact Us |
| Premium Money Market | $100 - $9,999.99 |
0.25% |
0.25% |
Contact Us |
*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 |
0.10% |
0.10% |
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| SpencerKids Savings** | $1 |
0.50% |
0.50% |
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| Statement Savings | $100 - $24,999.99 |
0.25% |
0.25% |
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| Holiday Club Account | $5 |
0.25% |
0.25% |
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| Platinum Savings | $100 - $4,999.99 |
0.05% |
0.05% |
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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) |
|---|---|---|---|---|
| 11-Month Promotion (CD Renewals Only) | $1,000 or Greater |
4.00% |
4.00% |
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| 19-Month Promotion (CD Renewals Only) | $1,000 or Greater |
4.25% |
4.16% |
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| 25-Month Promotion (CD Renewals Only) | $1,000 or Greater |
4.30% |
4.21% |
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| 3 Month | $1,000 or Greater |
0.10% |
0.10% |
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| 6 Month | $1,000 or Greater |
0.15% |
0.15% |
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| 12 Month | $1,000 or Greater |
0.20% |
0.20% |
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| 18 Month | $1,000 or Greater |
0.25% |
0.25% |
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| 24 Month | $1,000 or Greater |
0.35% |
0.35% |
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| 30 Month | $1,000 or Greater |
0.45% |
0.45% |
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| 36 Month | $1,000 or Greater |
0.50% |
0.50% |
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| 48 Month | $1,000 or Greater |
0.55% |
0.55% |
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| 60 Month | $1,000 or Greater |
0.65% |
0.65% |
Contact Us |
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For additional information on other rates and terms, please contact your local Financial Center or our Customer Service Center at 1-800-363-8115.
*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.
| IRA Account Description | Minimum Deposit to Open Account and Obtain APY | APY* | Interest Rate | Apply Now (Desktop, Tablet or Mobile) |
|---|---|---|---|---|
| IRA Savings | $100 - $999.99 |
0.05% |
0.05% |
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| 11-Month Promotion (IRA Renewals Only) | $500 or Greater |
4.00% |
4.00% |
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| 19-Month Promotion (IRA Renewals Only) | $500 or Greater |
4.25% |
4.16% |
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| 25-Month Promotion (IRA Renewals Only) | $500 or Greater |
4.30% |
4.21% |
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| 6 Month | $500 or Greater |
0.30% |
0.30% |
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| 12 Month | $500 or Greater |
0.35% |
0.35% |
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| 18 Month | $500 or Greater |
0.40% |
0.40% |
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| 20 Month | $500 or Greater |
0.35% |
0.35% |
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| 24 Month | $500 or Greater |
0.50% |
0.50% |
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| 30 Month | $500 or Greater |
0.60% |
0.60% |
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| 36 Month | $500 or Greater |
0.65% |
0.65% |
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| 48 Month | $500 or Greater |
0.70% |
0.70% |
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| 60 Month | $500 or Greater |
0.80% |
0.80% |
Contact Us |
Contact Us Today!
For additional information on other rates and terms, please contact your local Financial Center or our Customer Service Center at 1-800-363-8115.
*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.
| Coverdell Description | Minimum Deposit to Open Account and Obtain APY | APY* | Interest Rate | Apply Now (Desktop, Tablet or Mobile) |
|---|---|---|---|---|
| 11-Month Promotion (Renewals Only) | $500 or Greater |
4.00% |
4.00% |
Contact Us |
| 19-Month Promotion (Renewals Only) | $500 or Greater |
4.25% |
4.16% |
Contact Us |
| 25-Month Promotion (Renewals Only) | $500 or Greater |
4.30% |
4.21% |
Contact Us |
| 6 Month | $500 or Greater |
0.30% |
0.30% |
Contact Us |
| 12 Month | $500 or Greater |
0.35% |
0.35% |
Contact Us |
| 18 Month | $500 or Greater |
0.40% |
0.40% |
Contact Us |
| 20 Month | $500 or Greater |
0.35% |
0.35% |
Contact Us |
| 24 Month | $500 or Greater |
0.50% |
0.50% |
Contact Us |
| 30 Month | $500 or Greater |
0.60% |
0.60% |
Contact Us |
| 36 Month | $500 or Greater |
0.65% |
0.65% |
Contact Us |
| 48 Month | $500 or Greater |
0.70% |
0.70% |
Contact Us |
| 60 Month | $500 or Greater |
0.80% |
0.80% |
Contact Us |
Contact Us Today!
For additional information on other rates and terms, please contact your local Financial Center or our Customer Service Center at 1-800-363-8115.
*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.