Overview / Commentary
201-791-3192
680 River Drive
Elmwood Park, NJ 07407

Spencer Savings Bank is headquartered in Elmwood Park and is the 13th largest bank in the state of New Jersey. It is also the 333rd largest bank in the nation. It was established in 1939 and as of September of 2018, it had grown to 260 employees at 24 locations. Spencer Savings Bank 's money market rates are 3X the national average, and it boasts an A+ health rating.

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Reviews (2)

The Worst Bank

Posted by: XXX123 | Nov 8, 2016

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: Anonymous | Dec 24, 2010

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
A+

Health Grade Components

Overall
FDIC Certificate #30076
Year Established1939
Employees260
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.59%
Return on Equity - YTD5.33%
Annual Interest Income$74.2MM
Assets and Liabilities
AssetsQ3 2018vs Q3 2017$2.83B$2.69B
LoansQ3 2018vs Q3 2017$2.10B$1.96B
DepositsQ3 2018vs Q3 2017$2.07B$1.94B
Equity CapitalQ3 2018vs Q3 2017$315.3MM$310.8MM
Loan Loss AllowanceQ3 2018vs Q3 2017$14.4MM$14.9MM
Unbacked Noncurrent LoansQ3 2018vs Q3 2017$8.4MM$11.4MM
Real Estate OwnedQ3 2018vs Q3 2017$1.1MM$988.00K
Rates
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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

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.00%$1-SpencerKids Savings
1.00%*$100*$25kStudentEdge Savings
OTHER TIERS: 0.25% $25k+
0.25%*$50k*-Platinum Savings
OTHER TIERS: 0.10% $100 - $5k | 0.15% $5k - $25k | 0.20% $25k - $50k
0.25%$5-Vacation Club Account
0.25%$5-Holiday Club Account
0.20%*$1k*-IRA Savings
OTHER TIERS: 0.10% $100 - $1k
0.20%$100-Passbook Savings
0.15%*$25k*-Statement Savings
OTHER TIERS: 0.10% $100 - $25k

Spencer Savings Bank Money Market Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
1.50%*$5k*-E-Money Market
OTHER TIERS: 0.35% $500 - $5k
0.20%*$10k*-Premium Money Market
OTHER TIERS: 0.10% $100 - $10k

Spencer Savings Bank Checking Account Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
0.10%$100-Spencer Gold Checking
0.10%*$35k*-Spencer Platinum Checking
OTHER TIERS: 0.05% $2.5k - $35k

Spencer Savings Bank CD Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.75%$1k$500k60 Month CD
2.10%$1k$500k20 Month CD
1.60%$1k$500k48 Month CD
1.35%$1k$500k36 Month CD
1.00%$1k$500k18 Month CD
1.00%$1k$500k30 Month CD
0.80%$1k$500k24 Month CD
0.45%$1k$500k12 Month CD
0.25%$1k$500k6 Month CD
0.15%$1k$500k91 Day CD

Spencer Savings Bank IRA Rates

APYMINMAXACCOUNT NAMEVIEW DETAILS
2.75%$500$500k60 Month IRA
2.75%$500$500k60 Month CESA
1.60%$500$500k48 Month CESA
1.60%$500$500k48 Month IRA
1.35%$500$500k36 Month CESA
1.35%$500$500k36 Month IRA
1.00%$500$500k18 Month IRA
1.00%$500$500k18 Month CESA
1.00%$500$500k30 Month CESA
1.00%$500$500k30 Month IRA
0.80%$500$500k24 Month CESA
0.80%$500$500k24 Month IRA
0.45%$500$500k12 Month CESA
0.45%$500$500k12 Month IRA
0.25%$50$500k18 Month Variable CESA
0.25%$50$500k18 Month Variable IRA
Locations

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