Consumer Information

As college move-in day approaches, students and families face a wave of hidden costs, from mandatory course software to meal plans. Developing a proactive budget plan today can help you better manage your finances this semester! Here are some quick tips to get your budget started. 💸 Hidden College Expenses to Anticipate Mandatory Software: Expect …

Financial abuse targeting older adults causes $38.5 billion in losses for people over 60 each year. True losses from elder financial abuse could be even higher as many go unreported, and of those that are reported, nearly half of adults say they were either victims or intended victims of financial exploitation. Community banks are in …

In recognition of National Financial Awareness Day, Spencer and the Independent Community Bankers of America® (ICBA) are encouraging you to take stock of your personal finances and review spending and savings habits to stay on track of your 2026 financial goals. Unlike other financial literacy education initiatives that focus on learning new concepts, National Financial …

Financial issues are a common source of mental distress, and studies show they are some of the leading causes of anxiety and depression for Americans. It is important to understand how mental health and financial health are related. Mental health and personal finances share a highly cyclical relationship, where financial strain triggers psychological distress and …

Please remember that Spencer Savings Bank will never call, text, or email asking for your personal or account information. If you receive a suspicious call or message, hang up immediately and contact us directly at 1-800-363-8115. Through new technology innovations, fraud attempts are on the rise. Being aware of some of the most used schemes …

Fraud and identity theft remain constant threats to American consumers, including bank account theft, check fraud, and stolen credit cards. According to the Treasury department, fraud and identity theft reports have tripled in the past five years, affecting millions of Americans. Email and phone remain the two most common ways fraud can occur, though with …

In 2024, scammers stole over $16 billion from people just like you. Don’t let their tricks hypnotize you. Snap out of it. Scammers sound friendly for a reason – especially over email. They don’t always use threats. Instead, they earn your trust with polished language, official logos, and helpful-sounding requests. But just because it looks …

As tax season approaches, IRS scams are rising significantly. Scammers often impersonate the IRS regarding unpaid taxes – using threats of arrest or demands for immediate, unusual payments. They use sophisticated tactics like AI, social media misinformation and impersonation through calls, texts and emails to steal personal information and money, often threatening arrest or penalties …

Do you practice safe checks? It should come as easily as fastening your seat belt on a plane, so buckle up for this one. Despite the fact that check use has declined by 25%, reports of check fraud have soared! In fact, they’ve doubled since 2021. Criminals are becoming more sophisticated and finding new ways …

Getting out of debt can be painful—but the payoff is empowering! It takes a committed and consistent plan to get out of debt and stay out. Paying off debt has a variety of benefits—less stress, increased financial security, an improved credit score, etc. It also helps you reach your important financial goals by freeing your …