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Spencer Savings Bank

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Business Details



in Business

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General Info:
Spencer Savings Bank has been a financial leader in central Massachusetts for more than 125 years. Established in 1871 by a group of leading Spencer businessmen, the bank has helped countless individuals, families and business owners build greater financial security. The bank has also played an important role in supporting schools, libraries and other vital community institutions. Spencer Savings Bank is a full-service bank operating to serve and respond to the changing needs of its community marketplace. Personal banking options the bank provides customers with include checking accounts, savings accounts, certificates of deposit, money market accounts, and debit and automated teller machine cards. Business banking products include business checking accounts, small business checking accounts, savings accounts, certificates of deposit, money market accounts and cash management services. Spencer Savings Bank maintains a location in Spencer, Mass.
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TollFree: (800) 547-2885

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Payment method:
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Spencer MHC

Banks, Savings & Loan Associations, Mortgages, Holding Companies, Savings & Loans, Commercial & Savings Banks, Loans

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Posted: 1/25/2010


I was sent to Spencer Savings Bank by a mortgage broker in Northboro who is now out of business. I thought the bank was great until the economy fell flat on it's face.
We started to struggle with our mortgage and several times had to ask the bank for help. They were marginally responsive to the immediate situation but were unwilling to look at the "BIG PICTURE" and try to put something together to put the bank and us in a good position for the future.
We pay over $10,000 per month in INTEREST alone!! They wouldn't budge even a HALF a percent to try to help us out.

Then, my husband got deployed to Afghanistan and I asked that they honor the Servicemen's Civil Relief Act and drop my percentage to 6% (we are at 7.5%!!) and they wouldn't do it because only my name is on the loan! I guess they really don't care that they sleep safely in their beds at night because my HUSBAND is protecting their freedom! I would NOT recommend this bank to anyone!! A small bank like this should be more personable. That is why I thought I went there in the first place!

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Spencer Savings Bank

176 Main StSpencerMA 01562

(508) 885-5313

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Spencer Savings Bank

176 Main StSpencerMA 01562

(508) 885-5313

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