Spencer Savings Bank honored for promoting academic excellence through scholarship program

Spencer Savings Bank was recently recognized by the state Senate and General Assembly for promoting academic excellence through its scholarship program.

Assemblyman Gary Schaer (D-Passaic) recently visited the bank to present Jose Guerrero, Spencer’s chairman and CEO, and the executive management team with the proclamation on behalf of the Legislature.

Since its establishment in 2002, the Elmwood Park-based bank’s scholarship program has provided financial support to deserving students throughout New Jersey by granting over $600,000 in academic scholarships. The students have earned distinction through their scholastic accomplishments in addition to their exemplary leadership skills and commitment to community service.

During the visit, Schaer praised the bank’s efforts to advance the common good and commended the company for its dedication to the state’s young people.

“The strength and prosperity of the state of New Jersey and the effectiveness of American society greatly depend upon a thorough and efficient education for all, and upon outstanding organizations, exemplified by Spencer Savings Bank, that dedicate their time and resources in furtherance of an astute, engaged and informed citizenry,” the proclamation noted.

“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,” Guerrero said. “For over a century, Spencer has been a pillar of the community, committed to improving the lives of its community members in various ways. We are proud of the strong support we continue to provide the community, especially with education. Not only do we lend financial support, but we also provide financial education, throughout the year, at various schools and community/business organizations across the state.”