Spencer Savings Bank

Overview / Commentary
611 River Drive
Elmwood Park, NJ 07407

Spencer Savings Bank is headquartered in Elmwood Park and is the 12th largest bank in the state of New Jersey. It is also the 328th largest bank in the nation. It was established in 1939 and as of September of 2020, it had grown to 249 employees at 21 locations. Spencer Savings Bank 's money market rates are 14% higher than the national average, and it has an A health rating.

Related Posts

Spencer Savings Bank (NJ) Has E-Money Market Promotion - 7/10/2020

Spencer Savings Bank (NJ) E-Money Market Promotion is available to all New Jersey residents. A Platinum Checking is required for the top rate.

NJ RESIDENTS: 1.40% APY E-Money Market Acct, $7,500 Minimum - 7/7/2020

Actually the minimum is $5k, but you must have a Platinum Checking Acct in order to receive the rate, and Platinum Checking requires a $2.5k balance in order to waive the $15 monthly fee. Without Platinum Checking, the E-Money Market rate is 1.10% APY. As always, anyone posting this deal at their own website should give credit to DA for the find. https://www.spencersavings.com/personal-banking/todays-personal-rates/

View all posts from:

Reviews (2)

The Worst Bank

Posted by: |

There is no way they can do anything for you. Always the answer is "NO" and always you need to bring more documents and make another trip to the bank as nothing is ever possible to do online or over the phone.
And every person working there gives you different information on what you need to do.
They are in business of wasting your time.

I would give -5 starts if possible.

Threatened To Take Our Money.

Posted by: |

Beware, as an account holder I was asked for ID and why I needed the balance on our account? I politely said the other party is deceased. Then I was told that due to the death of other named party they will seize and hold half of the account. I inquired about a CD that was there in both names and was told that they can charge a fee to close it out, and then I was told no fee will be charged. Make up your mind !!! If I get any more trouble I will retain an attorney and sue them for this. It will only add to there legal woes they have already.


Health Grade Components

FDIC Certificate #30076
Year Established1939
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.38%
Return on Equity - YTD3.43%
Annual Interest Income$81.5MM
Assets and Liabilities
AssetsQ3 2020vs Q3 2019$3.22B$3.03B
LoansQ3 2020vs Q3 2019$2.36B$2.34B
DepositsQ3 2020vs Q3 2019$2.44B$2.16B
Equity CapitalQ3 2020vs Q3 2019$353.1MM$342.0MM
Loan Loss AllowanceQ3 2020vs Q3 2019$26.7MM$19.2MM
Unbacked Noncurrent LoansQ3 2020vs Q3 2019$16.2MM$16.6MM
Real Estate OwnedQ3 2020vs Q3 2019$315.00K$323.00K
Report an Issue

Always verify rates and promotions with the bank or credit union. We are not Spencer Savings Bank ; we are a rate comparison website and cannot provide official rates or promotions.

* The APY shown varies based on the deposit amount. Expand the listing to see APYs for other deposit amounts.

Spencer Savings Bank Savings Account Rates

0.50%$1-SpencerKids Savings
0.50%*$100*$25kStudentEdge Savings
OTHER TIERS: 0.10% $25k+
0.50%*$5k*$250kSmartSaver Savings
OTHER TIERS: 0.10% $100+
0.25%$5-Vacation Club Account
0.25%$5-Holiday Club Account
0.20%*$1k*-IRA Savings
OTHER TIERS: 0.10% $100 - $1k
0.15%*$50k*-Platinum Savings
OTHER TIERS: 0.05% $100 - $5k | 0.10% $5k - $50k
0.10%$100-Passbook Savings
0.10%*$25k*-Statement Savings
OTHER TIERS: 0.05% $100 - $25k

Spencer Savings Bank Money Market Rates

0.50%*$5k*-E-Money Market
OTHER TIERS: 0.10% $500 - $5k
0.10%*$10k*-Premium Money Market
OTHER TIERS: 0.05% $100 - $10k

Spencer Savings Bank Checking Account Rates

2.00%*-$25kKasasa Cash Checking
OTHER TIERS: 0.30% $25k+
0.10%*$35k*-Spencer Platinum Checking
OTHER TIERS: 0.05% $2.5k - $35k
0.05%$100-Spencer Gold Checking

Spencer Savings Bank CD Rates

0.60%$1k$500k60 Month CD
0.50%$1k$500k48 Month CD
0.40%$1k$500k30 Month CD
0.40%$1k$500k36 Month CD
0.30%$1k$500k18 Month CD
0.30%$1k$500k24 Month CD
0.30%$1k$500k20 Month CD
0.25%$1k$500k6 Month CD
0.25%$1k$500k12 Month CD
0.15%$1k$500k91 Day CD

Spencer Savings Bank IRA Rates

0.75%$500$500k60 Month IRA
0.75%$500$500k60 Month CESA
0.60%$500$500k48 Month CESA
0.60%$500$500k48 Month IRA
0.50%$500$500k36 Month CESA
0.50%$500$500k36 Month IRA
0.50%$500$500k18 Month IRA
0.50%$500$500k18 Month CESA
0.50%$500$500k30 Month CESA
0.50%$500$500k30 Month IRA
0.45%$500$500k24 Month CESA
0.45%$500$500k24 Month IRA
0.45%$500-20 Month IRA
0.45%$500-20 Month CESA
0.40%$500$500k12 Month CESA
0.40%$500$500k12 Month IRA
0.40%$500-6 Month IRA
0.40%$500-6 Month CESA
0.25%$50$500k18 Month Variable CESA
0.25%$50$500k18 Month Variable IRA


New York Area

Interactive local rates map

The financial institution, product, and APY (Annual Percentage Yield) data displayed on this website is gathered from various sources and may not reflect all of the offers available in your region. Although we strive to provide the most accurate data possible, we cannot guarantee its accuracy. The content displayed is for general information purposes only; always verify account details and availability with the financial institution before opening an account. Contact [email protected] to report inaccurate info or to request offers be included in this website. We are not affiliated with the financial institutions included in this website.