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Spencer Savings Bank

History:

Spencer Savings Bank has been a financial leader in Central Massachusetts for more than 125 years. Founded 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.

Over the years, Spencer Savings Bank has enjoyed steady growth, due to its commitment to personal service and its responsiveness to market trends. Spencer Savings Bank received its first 5-star rating from Bauer Financial in 1991 and has done so continuously to this day. In 1997, the Bank earned a Blue Ribbon Commendation from Veribanc and in 1999, received "Rookie of the Year" from the Massachusetts Housing Finance Agency. The bank was rated #2 by Weiss in its Top Ten Bank & Thrift List in 2000 and today continues to be one of the top real estate lenders in the Worcester area.

Initially housed in the counting room of boot manufacturer E. Jones and Company (presently Lacaire Lumber Company in Spencer), Spencer Savings Bank later moved to the bank building at the corner of Main and Maple Street and then finally to its current location. In addition to its Main Office, the Bank has branches in the Fair Plaza (Spencer), Warren, Rutland, and Leicester and a business banking center in Worcester.

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