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Spencer Savings Bank Recognizes Local Union, N.J. Students with Scholarship

Elizabeth Branch Manager Justin Shapiro with Union student, Imani McClendon
Elizabeth Branch Manager Justin Shapiro with Union student, Imani McClendon

Spencer Savings Bank, a community bank headquartered in Elmwood Park, N.J., proudly announces the winners of its annual scholarship program. Among the winners are local students Imani McClendon who attended Union Senior High School in Union, N.J., Gabriel Silveira who attended Burnet Middle School in Union, N.J. Spencer Savings Bank granted McClendon with a $1,000 scholarship and Silveira with a $500 Coverdell Education Savings Account (CESA) as a reward for the hard work they have shown throughout the entirety of their educational career and their dedication to the community’s growth and well-being.

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. 

“I extend my sincere congratulations to Imani and Gabriel, who have both shown excellence in academic achievement and a strong commitment to our community,” said José B. Guerrero, President, Chairman and CEO of Spencer Savings Bank. “Education is a principal focus for the Bank, and it is through initiatives like our scholarship program that we demonstrate our commitment to supporting the growth of local students, who we confidently believe will continue to contribute to our community in the future.”

An award ceremony was held on June 26, 2013, to honor McClendon and Silveira, and recognize them for their notable achievement.

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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