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Wednesday, May 22, 2024

NJ Senate and General Assembly Recognize Spencer Savings Bank for Its Scholarship Program’s Promotion of Academic Excellence

Spencer Savings Bank Honored by the State of New Jersey for Scholarships

In December 2023, Spencer Savings Bank was recognized by the State of New Jersey for its outstanding dedication to promoting academic excellence through its scholarship program. The distinguished bank, well-respected throughout the Garden State, was commended by the NJ State Legislature for its commitment to supporting deserving students.

Since its establishment in 2002, Spencer Savings Bank’s scholarship program has provided over $600,000 in academic scholarships to students across New Jersey. These scholarships are awarded to students who have demonstrated exceptional scholastic achievements, outstanding leadership skills, and a strong commitment to community service.

Assemblyman Gary Schaer recently visited Spencer Savings Bank to present CEO and Chairman Jose B. Guerrero, along with the Executive Management team, with a Proclamation on behalf of the NJ State Legislature. During the visit, Assemblyman Schaer praised the bank for its dedication to advancing the common good and acknowledged its steadfast efforts in supporting the state’s young people.

In response to the recognition, Jose B. Guerrero expressed his gratitude, stating, “We take great pride in the support we provide our youth in creating a better tomorrow, both for themselves and for our community. We are very honored to receive this award and thank Assemblyman Schaer for visiting with us and acknowledging our work.”

The Proclamation presented by the NJ State Legislature emphasized the importance of organizations like Spencer Savings Bank, which dedicate their time and resources to furthering an astute, engaged, and informed citizenry. The bank’s commitment to providing not only financial support but also financial education at various schools and community/business organizations across the state was highlighted as a testament to its dedication to improving the lives of community members.

Spencer Savings Bank has been an integral part of the New Jersey community for over a century, with a strong focus on improving the lives of its community members. With about $4 billion in total assets and 27 financial centers throughout New Jersey, the bank continues to provide premier banking products and services for consumers and businesses.

For more information about Spencer Savings Bank and its commitment to promoting academic excellence and supporting the community, visit

Spencer Savings Bank’s dedication to supporting deserving students and promoting academic excellence has earned it well-deserved recognition from the NJ State Legislature. With its continued commitment to improving the lives of community members and providing superior banking products and services, Spencer Savings Bank stands as a testament to the positive impact that businesses can have on the community.

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