Salem Five Bank
About
Salem Five Bank is a full-service financial services company in Salem, offering banking, investments, insurance and mortgages to individuals and businesses across the Greater Boston area. Personal customers can choose from several checking options as well as certificates of deposit and IRAs, and the bank also handles other kinds of loans. Business clients can get accounts and funding meant to support growing companies.
Mortgage lending is one of its core services, alongside insurance coverage and wealth management through Salem Five Wealth Advisors. Brokerage and investment products are offered through Salem Five Investment Services in partnership with LPL Financial, and those products are separate from the bank. Commercial clients can manage their business applications through a secure browser that adds malware prevention and one-time passcodes sent by text.
What to Know
- Investment products through LPL are not FDIC insured, not bank guaranteed and may lose value.
- The bank periodically offers special CD and IRA terms.
- An online Application Status Center lets applicants check on their applications.
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