Spencer Savings Bank Grants $22,500 in Scholarships to Local High School and Middle School Students

Spencer Savings Bank, a community bank headquartered in Elmwood Park, N.J., awarded $22,500 in scholarships this year to local students, through its annual scholarship program established to aid local youth in their pursuit of higher education. Spencer Savings Bank recognized 30 high school and middle school students for their outstanding academic achievements and educational goals, awarding each high school student $1,000 scholarship and each middle school student a $500 Coverdell Education Savings Account (CESA), at an award ceremony on June 26, 2013.

Since the program was founded in 2002, Spencer Savings Bank has awarded a total of 270,500 in scholarships to youth in the communities it serves. This year, Spencer Savings Bank’s $22,500 scholarship fund was divided among 15 high school students and 15 middle school students within the bank’s communities, including Clifton, Cranford, Elizabeth, Elmwood Park, Garfield, Garwood, Lodi, Lyndhurst, North Caldwell, Nutley, Roselle, Saddle Brook, Union, Wallington and Wayne. The students were selected based upon their academic record, history of community service and future interest in a career in business, finance or banking. 

“It was truly a pleasure to present each of these deserving young men and women with a scholarship to help support their academic goals,” said José B. Guerrero, President, Chairman and CEO of Spencer Savings Bank. “These local students have extraordinary aspirations, and we are proud to recognize their academic accomplishments, hard work, and community service efforts.  We are proud to support their future endeavors and know they will all continue to achieve great success.”

Centered on generating growth through reinvestment of local deposits into the community, Spencer Savings Bank proudly supports local business workforce initiatives, civic groups, charitable organizations, youth programs, and other community-focused organizations.

For more information on the scholarship program and additional programs established to benefit local communities, or to learn more about Spencer Savings Bank, please visit www.spencersavings.com.

About Spencer Savings Bank:

Spencer Savings Bank, headquartered in Elmwood Park, New Jersey, is a community bank that has been serving its local communities with integrity and pride for over 70 years.  The Bank, serving consumers and businesses, operates 19 branches throughout Northern New Jersey.  Spencer Savings Bank has over $1.8 billion in total assets.


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