Plan for Tomorrow, Today

*NEW MONEY ONLY. New Money is defined as money not on deposit at Spencer Savings Bank. **APY=Annual Percentage Yield. A $1,000 minimum deposit for the CD Account or $500 minimum deposit for IRA Account is required to open the account and to obtain the stated APY. For the 8-month term, the rate is based on a simple interest calculation and is credited monthly. For the 17-month CD or IRA, interest is compounded daily and credited monthly. APY assumes interest remains on deposit until maturity. A penalty will be imposed for premature withdrawals. Maximum CD deposit for promotion is $250,000 per tax-identification number for Platinum Checking account holders or $50,000 for non-Platinum Checking account holders. To qualify for the 5.15% APY or the 5.00% APY, customer must maintain an active existing Platinum Checking Account or open a new Platinum Checking Account at the same time as CD or IRA account opening with the same tax-identification number as the CD or IRA account holder. Platinum Checking is a variable tiered rate checking account with a $100 minimum opening balance and $15 monthly service charge if a minimum daily balance falls below $2,500 in any statement cycle. An active checking account is defined as an account that has multiple debits and credits coming in and out of the account monthly. Account Closing: If Platinum Checking Account is closed by Spencer or the customer within the duration of the initial 8-month or 17-month term of the CD or IRA account, the promotional interest rate will be forfeited, and the account will be adjusted to reflect the 4.65 % APY or 4.50% APY, for the remaining term. Fees may reduce earnings on account. For IRA Accounts, one rate and term change is allowed per year, if you are over 59 ½ years of age, without penalty. Consult your tax advisor. Available to individuals who are primary residents of NJ and currently living in NJ or former NJM Bank customers who currently maintain an existing deposit account and who are primary residents of and live in Bucks County, PA. APY is accurate as of 2/01/2024. Offer may be withdrawn at any time.