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February 2023 by Tom Dauenheimer
Stay away from Spencer if you’re looking for a mortgage. Our experience was consistent with many of the other reviews here. It’s like they don’t want to close. We had to provide many of the same documents over and over again. The closing agents are unresponsive and not helpful. The underwriters push back on almost every single document, it’s like they don’t want to close. Just a few days before we were supposed to close, after working with them for TWO MONTHS, they started to request even more documents and demanding that certain repairs would need to be made to the house in order to close. This was a conventional mortgage, not an FHA loan. Our attorney and realtor told us that these requests and demands were very unusual. After delaying our closing and making no progress from that point, we decided to find another mortgage company who got us closed in TWO WEEKS from time of contact with NO issues—vs two+ months at that point with Spencer. It could have been even faster if Spencer didn’t also waste time making it difficult to have our documents transferred to the new mortgage company. This was a risk for us because switching lenders at that point could have put our contract in jeopardy, we were lucky to have sellers who were flexible and understanding. The only competent employee there is Jim the sales manager who was kind and helpful from the beginning, one of the reasons we decided to go with Spencer in the first place. He eventually tried to compromise with us to get the issues resolved after we had already been delayed for almost two weeks, unfortunately it was too little and too late. We finally closed about two and a half weeks after our original closing date with HQM in Fairfield whom I highly recommend.
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February 2023 by derik beckett
If you’re reading this review, please heed my warning and stay away. From inception, I was treated horribly by the assistant branch manager, Millicent. Additionally, I was treated poorly by her own boss, the marketing manager. I believe her boss’ name is Rona Marcello, or something that sounds similar.My accounts were closed and I was not notified of anything. I was told that notification isn’t required, there’s nothing to be done, and my check was in the mail, sent certified.Again, I was not notified in anyway that my accounts were closed. Additionally, if fraud was suspected, Spencer’s AML/ compliance team needs to work their roles better. I am employed at a PE firm and act as the liaison between my firm and IRS. My background and bank accounts are absolutely squeaky clean, and need to be considering my employment.I read something online mentioning to stay away if you’re a person of color. I absolutely believe this to be the case. I will and have pursued this further with FTC and the Consumer Financial Protection Bureau. There was absolutely no reason for me to be treated as I was.
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January 2023 by Derik B.
If you're reading this review, please heed my warning and stay away. From inception, I was treated horribly by the assistant branch manager, Millicent. Additionally, I was treated poorly by her own boss, the marketing manager. I believe her boss' name is Rona Marcello, or something that sounds similar. My accounts were closed and I was not notified of anything. I was told that notification isn't required, there's nothing to be done, and my check was in the mail, sent certified. Again, I was not notified in anyway that my accounts were closed. Additionally, if fraud was suspected, Spencer's AML/ compliance team needs to work their roles better. I am employed at a PE firm and act as the liaison between my firm and IRS. My background and bank accounts are absolutely squeaky clean, and need to be considering my employment. I read something online mentioning to stay away if you're a person of color. I absolutely believe this to be the case. I will and have pursued this further with FTC and the Consumer Financial Protection Bureau. There was absolutely no reason for me to be treated as I was.
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April 2022 by Anna Murdzoski
I have had an account with Spencer for many years. It is unfortunate that their service has gone down considerably. Most frustrating are their procedures and polices for business accounts. They are antiquated and NOT at all customer friendly. At each turn there’s something preventing me from conducting my business seamlessly. Constant issues with debit card being declined by vendors ( funds always in the account). Any change I need done I have to drive to the branch. I don’t live close. They can’t even do an address change over the phone. It’s 2022 Please join this century and what is expected of FI’s these days having abilities to employ technologies to make banking frictionless for your customers. Mobile banking antiquated as well. Nothing is ever easy. If you’re looking for a bank to do business banking. Stay away from Spencer!!!. People at the decision making level need to wake up. Even mergers will not sustain you for long given the archaic systems and out of date policies.
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March 2021 by M P.
Spencer Bank is by far, the ABSOLUTE WORST Banking institution there is. The Bank - and the Headquarters - display a host of shortcomings and clearly are the most substandard bank - dealing with numerous staff members in the Corporate Office and bank location, I can easily say that across the board, each person failed miserably in their competencies...there was incompetence, unprofessionalism, a lack of knowledge, and complete disregard displayed - a Bank Manager who left an urgent situation hanging and unresolved - never to have the decency to properly handle customer's needs.....and members in the Corporate Office following the same pattern - with absolutely no accountability, conscience or morals. The Bank Manager comes from a place of NO...as do the other staff members...they go through the motion to do nothing ...and handling any question or request for them is utterly challenging and mishandled - they are literally clueless and inept. The bank couldn't have failed worse in their non-actions in supporting their clients - they have antiquated ways of handling situations and horrendous follow-through in meeting customer needs - it's non-existent and actually creates stress and aggravation to a situation. Who would need that? It's no wonder Spencer Bank exists in a bubble in New Jersey and fails to be a national bank - they're ill equipped on every staff level. It's a small, isolated banking institution ...and instead of at least offering more personalized service, as a result, they actually fall short in that too....but rather, they're impersonal, backwards, unresponsive and irresponsible in performing tasks that other banks can do with ease. I decided to google - "what skills are crucial for bank professionals" ...and the following was listed - Patience...Attentiveness...Emotional Intelligence...Ability to Communicate Clearly...Problem Solving Skills...A Methodical Approach...Creativity and Resourcefulness...and Ability to Use Positive Language." So, what I find remarkable is - There Is Not One Skill Listed That Would Encompass Spencer Savings Bank - They Literally FAILED On All Counts. In assessing my experience with their employees and the abilities of Spencer Savings, it is so deplorable that the traits, listed above, are the complete opposite skills to what was offered at Spencer Bank - they come from a place of NO...they lack resourcefulness, they lack accountability and they cannot be depended on...the Bank Manager was so ineffective and seemed completely disinterested in her job...after dealing with other Company members, I realized that this seems to be the trend there - sadly, it starts from the Top Down. Low Expectations seem to be their motto - and their goal....it's too bad that clients suffer, as a result. I only recommend using Spencer Savings if you are comfortable with failure and incompetence. Life lesson: If you go to a "Rinky-Dink" Bank, then expect "Rinky-Dink" service!
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September 2020 by Thaddeus Lazor
I’ve been a member in Wallington and now in Clifton on Piaget Ave/46. I have the most pleasurable experience every time. I even have my business account there. They have always been the most accommodating and professional team. I even get my Gift cards there. Maybe Spencer should use this bank as a training bank.
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April 2020 by Karen Pilovsky
I wish I could give a zero for a review. This bank has the most unprofessional and rudest management team I have ever dealt with. They are not customer friendly. They do everything they can to turn a customer away rather than help them.
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December 2016 by Bonnie Criscione-Brown
Tried to get a loan through Spencer. Every week they needed additional information. Instead of asking for everything at once, it was done in pieces. I lost my patience and am seeking a loan through their competitor. Would rather work with someone who values their customers' time.
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August 2014 by mayur Shah
Was really welcoming on it's opening ceremony.
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July 2012 by Jane Cooper
Applause to Spencer Savings Bank! I brought my 74 year old mother into the bank to open a new checking account after being mistreated at the bank she previously did business with. We were immediately greeted after walking in the door and seated at a desk by one of their staff members. The manager came over to introduce herself to us and to give us information on each of the account types. Once my mother picked out what she wanted, they took the time to set up the account, to set her up with online banking and even to call Social Security to switch her direct deposit over! They were patient, helpful and really a pleasure to do business with. It was a pleasure coming to a community bank that actually cared. I will be back soon because I plan on switching my accounts over!!!
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April 2011 by Nicole Olshefski
This is in regards to their mortgage services: The bank has good rates which is the main reason we chose them for our loan. From the time we got a mortgage approval to our closing date we were passed down through 4 different employees. Those employees must not communicate because we were asked multiple times to provide copies of documentation and information we had already provided to the prior employees. Try to avoid Monika Sawicki as your closing agent. She is very rude, pushy, and thinks the process revolves around her (not you as the customer). She was constantly tardy in providing accurate figures to our attorney. Our attorney was even surprised at how unprofessional she was.
