■ Banking
money management tool available through its online and mobile banking platforms , with new features that help customers plan for the future . Cash Flow is a tool that allows users to visualize how money moves into and out of their accounts each month . It uses advanced analytics informed by past transactions to provide users with a simple display of their daily spending power .
Money Smart was also updated with a Net Worth tool to help users track financial worth in real time . It combines checking and savings accounts , retirement accounts , property , investments , bonds , debt and more to show a visualization of net worth and how it changes over time . The Goals tool in Money Smart helps users achieve savings , debt payoff and retirement goals . It creates timelines and visualizations that are automatically updated as users put money toward a savings goal or pay down debt .
The Financial Education Center . M & T created an online Financial Education Center to help its customers and communities access educational resources that deepen their financial literacy . Its self-directed learning materials are organized into life-stage educational bundles ( Banking for Families , Becoming a Homeowner , Banking for Entrepreneurs ) to help people find the insights and information they need for their moment in life . The Financial Education Center can be visited at mtb . com / financialeducation .
MagnusCards will allow customers to access digital guides that provide visual cues and step-by-step instructions for ATM transactions , using debit cards and more .
Spencer Savings Bank ’ s President and COO Joins NJBankers Board
Compiled by John Joseph Parker Contributing Editor
Spencer Savings Bank President Jane Allerman-Rey has been appointed to the New Jersey Bankers Association ( NJBankers ) Board of Directors for a twoyear term . Founded more than 115 years ago , NJBankers is a trade association representing the state ’ s banking community .
A leading New Jersey-based community bank headquartered in Elmwood Park , Spencer Savings has served its local communities for more than 100 years . The bank has more than $ 3 billion in total assets and operates 20 financial centers throughout New Jersey . Spencer specializes in delivering premier banking products and services for consumers and businesses .
“ It is an honor to be a part of the NJBankers leadership team . I am grateful for the opportunity to serve on the Board of Directors and look forward to joining them in advocating for our membership ’ s interests ,” says Allerman-Rey . “ I am particularly proud to represent Spencer Savings Bank and community bankers , as I have been a strong supporter throughout my entire career and witnessed , first-hand , the impact that community banks have in the communities they serve .”
Allerman-Rey was recently named President and Chief Operating Officer of Spencer Savings Bank . Prior to this , she served as First Executive Vice President and Chief Operating Officer at Spencer . She has worked at Spencer Savings Bank for almost 30 years and has been an integral part of the growth and success of the company .
Prior to joining Spencer , she came from the regulatory side of banking , working at the Federal Home Loan Bank of New York and the Office of Thrift Supervision ( OTS ). Allerman-Rey presently serves on the boards of two non-profit organizations : the UCEDC , an economic development corporation serving New Jersey-based small businesses ; and the Westfield Area YMCA .
Within those organizations , she serves on a number of committees , some of which include
Spencer Savings Bank President and COO Jane Allerman-Rey
executive , loan , finance and budget committees . She is also an active member of the Financial Managers Society , a national organization which focuses on providing education , community support , networking and professional development for finance industry members .
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