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River Drive Center 3 - 611 River Dr
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 335th largest bank in the nation. It was established in 1939 and as of December of 2016, it had grown to 248 employees at 22 locations. Spencer Savings Bank has 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 Grade Components

FDIC Certificate #30076
Year Established1939
Primary RegulatorFDIC
Profit Margin
Return on Assets - YTD0.52%
Return on Equity - YTD4.62%
Annual Interest Income$85.3MM
Assets and Liabilities
AssetsQ4 2016vs Q4 2015$2.61B$2.54B
LoansQ4 2016vs Q4 2015$1.90B$1.84B
DepositsQ4 2016vs Q4 2015$1.83B$1.78B
Equity CapitalQ4 2016vs Q4 2015$296.9MM$282.1MM
Loan Loss AllowanceQ4 2016vs Q4 2015$14.2MM$14.5MM
Unbacked Noncurrent LoansQ4 2016vs Q4 2015$14.1MM$13.2MM
Real Estate OwnedQ4 2016vs Q4 2015$1.6MM$1.8MM
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* 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

1.00%*$100*$25kStudentEdge Savings
OTHER TIERS: 0.25% $25k+
0.75%--SpencerKids Savings
0.25%*$50k*-Platinum Savings
OTHER TIERS: 0.10% $100 - $5k | 0.15% $5k - $25k | 0.20% $25k - $50k
0.25%--Vacation Club
0.25%--Holiday Club Account
0.20%*$1k*-IRA Savings
OTHER TIERS: 0.10% $100 - $1k
0.20%*$1k*-Roth IRA Savings
OTHER TIERS: 0.10% $100 - $1k
0.20%$100-Passbook Savings
0.15%*$5k*-Premium Savings
OTHER TIERS: 0.10% $100 - $5k

Spencer Savings Bank Money Market Rates

0.20%*$10k*-Premium Money Market
OTHER TIERS: 0.10% $100 - $10k

Spencer Savings Bank Checking Account Rates

0.10%$100-Spencer Gold Checking
0.10%*$35k*-Spencer Platinum Checking
OTHER TIERS: 0.05% $2,500 - $35k

Spencer Savings Bank CD Rates

1.75%$1k-30 Month CD Special
1.50%$1k-20 Month CD Special
1.50%$1k-60 Month CD
1.25%$1k-48 Month CD
1.25%$1k-15 Month CD Special
1.00%$1k-36 Month CD
0.55%$1k-24 Month CD
0.45%$1k-12 Month CD
0.40%$1k-18 Month CD
0.35%$1k-10 Month CD
0.25%$1k-6 Month CD
0.15%$1k-91 Day CD

Spencer Savings Bank IRA Rates

2.00%$500-60 Month IRA
2.00%$500-60 Month Fixed CESA
1.75%$500-30 Month Fixed CESA Special
1.75%$500-30 Month IRA Special
1.25%$500-48 Month Fixed CESA
1.25%$500-48 Month IRA
1.25%$500-18 Month IRA Special
1.25%$500-18 Month Fixed CESA Special
1.00%$500-36 Month Fixed CESA
1.00%$500-36 Month IRA
0.55%$500-24 Month Fixed CESA
0.55%$500-24 Month IRA
0.45%$500-12 Month Fixed CESA
0.45%$500-12 Month IRA
0.25%$50-18 Month Variable CESA
0.25%$50-18 Month Variable IRA

Spencer Savings Bank has 22 locations. Click to view all Spencer Savings Bank locations.