Spencer Savings Bank honored with Gateway Chamber’s ‘Business of the Year’ award

Elmwood Park, NJ, May 08, 2022 –(PR.com)– Spencer Savings Bank recently received the “Business of the Year” award from the Gateway Regional Chamber of Commerce at its 110th annual award ceremony at the Marriott Hotel in Newark, New Jersey. The bank was honored for its support to the business community facing economic hardship due to the COVID-19 pandemic.

“We are very honored to receive the ‘Business of the Year’ award from the Gateway Regional Chamber of Commerce,” said Jose B. Guerrero, President and CEO of Spencer Savings Bank. “America is a small business and we are proud to have helped many business owners across the state of New Jersey keep their doors open. We are also thrilled to have created a strong partnership with the chamber which offers Spencer the opportunity to help New Jersey businesses grow and succeed.

Jim Coyle, president of the Gateway Regional Chamber of Commerce, was also honored at the dinner as he celebrated his 25th anniversary with the chamber. He has done a great job leading and growing the organization and supporting business owners across the state. Under his leadership, the chamber became one of the largest regional chambers of commerce in the New York metropolitan area, with over 1,200 members.

Spencer Savings Bank is a leading New Jersey-based community bank with 26 financial centers throughout New Jersey. In business for over 100 years, the bank has approximately $4 billion in assets and a team of nearly 300 banking professionals. The team specializes in delivering top-notch consumer and business banking products and services. The bank is headquartered in Elmwood Park, NJ and has offices in Union, Essex, Bergen, Passaic, Morris and Mercer counties.

Spencer’s pandemic assistance to the New Jersey community, including businesses, has been prompt and robust. Through the Small Business Administration Paycheck Protection Program (PPP), the bank has administered millions of loans, protected more than 1,000 jobs, and helped more than 300 businesses in New Jersey. The team also worked tirelessly with current Spencer business borrowers to ensure their specific borrowing issues were resolved and a plan was put in place to prevent their businesses from closing. In addition to that, $400,000 was distributed in donations and grants to support relief efforts in the New Jersey community, including business owners.

For more information contact:
Anita Guerrero (SSB): 201-703-3800 x 8421
Vice President, Director of Corporate Communications


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