Spencer Saving Bank Awards Scholarships to Parsippany Students

Supports Local Students’ Education Dreams

PARSIPPANY — Spencer Savings Bank recently awarded $26,000 in scholarships to 34 gifted students in local high schools and middle schools during a scholarship ceremony marking the bank’s 16th year supporting education dreams.

Lawrence Ullman Jr. (Parsippany Hills High School) received a $1,000 scholarship and Bryan Tavarez (Central Middle School) received a $500 scholarship, in the form of a Coverdell Education Savings Account (CESA).

Students from various New Jersey school districts, within Spencer’s market area, received scholarships for their academic success, community service work and school activity involvement. High school students each received a $1,000 check and middle school students each received a tax-advantaged Coverdell Education Savings Account (CESA) with $500 deposited, to encourage future saving. The Spencer staff surprised the students at their local school ceremonies and presented them with certificates. All of the students, and their family members, were then invited to the annual Spencer scholarship ceremony where guests enjoyed a light buffet dinner, received gifts, took photos with Executive Management and connected with bank staff.

“Education is the key to a bright future, and Spencer is very proud to support these students in pursuit of one,” stated Jose B. Guerrero, Spencer’s Chairman, President & Chief Executive Officer. “Spencer’s yearly scholarship program helps fund dreams. These gifted students are doing great work and will develop into our future leaders. We encourage them to reach for the stars and to join Spencer, one day, in making a true difference in their community. Congratulations Class of 2018!”

For decades, Spencer has been supporting programs that help grow and develop children and youth in the community. The bank is fully committed to making a true difference in their lives. Since its inception in 2002, the Spencer Scholarship Program has awarded almost $400,000 in scholarships to local students. Spencer also sponsors a financial education program where thousands have benefitted with increased financial literacy. Annually, the staff also visits schools to personally teach children lessons on financial empowerment. For this and more information on all of the bank’s extensive corporate philanthropic work click here.

About Spencer Savings Bank:
Spencer Savings Bank, a community bank headquartered in Elmwood Park, N.J., has been serving its local communities with integrity and pride for more than 75 years. The bank has over $2.7 billion in total assets and operates 21 branches throughout New Jersey. Spencer specializes in delivering premier banking products and services for consumers and businesses.

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