Spencer Savings Bank is headquartered at 680 River Drive in Elmwood Park
By Joshua Burd
Spencer Savings Bank has announced the re-election of a longtime board member and the addition of two new members as part of its recent annual meeting.
The lender, which is based in Elmwood Park, said Peter J. Hayes will serve a new three-year term after being re-elected at the Jan. 21 meeting. He brings experience that includes chairman, CEO and president positions with both private and public companies, along with service on boards for retail companies and nonprofits.
“We are pleased to announce the re-election of Peter J. Hayes to our board of directors,” said Jose B. Guerrero, chairman and CEO of Spencer Savings Bank. “Over the years, his extensive business experience and support has guided us well in achieving continued, sustainable growth in our organization.”
Spencer has also welcomed Thomas Duch, the longtime city manager in Garfield, as a newly elected board member for a three-year term. He is a practicing attorney who is the former mayor of Garfield and a former state assemblyman, having served on other boards and with civic organizations.
The second new board member, Ada Melendez McGuinness, was elected to a one-year term, according to a news release. She previously was vice president and director of community development at a large regional bank and has more than 30 years of experience in banking, community development and new business development.
Her professional background also includes work in the public, government and private sectors.
“We are also delighted to welcome Thomas and Ada to our board of directors,” Guerrero said. “They are community-focused individuals with extensive knowledge, expertise and recognized leadership (both professionally and philanthropically). We look forward to partnering with them on growing both our company as well as our community.”
