President’s Letter: Winter 2016January 9, 2016

Dear Spencer Family:

A new year is upon us! First, on behalf of Spencer Savings Bank, I would like to wish you a happy, healthy and prosperous 2016.

The Federal Reserve recently raised short-term interest rates for the first time in nearly a decade, a sign that the economy is not only stabilizing, but improving. This means higher returns for investors, and increased lending from banks. Spencer will continue to strengthen the communities it serves by offering products and services to help people reach their financial goals, and by providing a high level of support to local non-profit organizations.

In this edition of our newsletter, we’re introducing the VISA® Business Cash Card, yet another solution to help local business owners flourish. We also shed light on a few retirement planning mistakes to avoid, along with the opportunities abound for home equity loans.

The brightest highlight, though, is the impact we’re making in the community. From a build day with Habitat for Humanity of Bergen County to our annual holiday toy and food drives, Spencer’s fall season was filled with wonderful efforts.
As always, I extend my sincerest thanks to you for choosing Spencer and allowing us to support your banking needs. Here’s to another great year together.

José B. Guerrero
Chairman, President & CEO

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