Salem Five Bank – 35 Boston St
4.0
(32 reviews)
Salem Five Bank, headquartered in Salem, Massachusetts, is a long-established mutual savings bank with a history dating back to 1855. The institution originated as the Salem Five Cents Savings Bank, earning the nickname “The Nickel Bank” due to its modest initial deposits, and has evolved into a broader full-service financial organization over more than a century. It has grown from its local roots to serve communities across northeastern Massachusetts, maintaining a focus on dependable customer service and regional banking expertise. The bank historically emphasized safety and soundness, expanding its product suite to include retail and commercial banking, mortgage lending, and related financial services. Its operational footprint has included multiple branches and digital engagement channels, positioning Salem Five as a prominent regional financial services provider. The organization continues to emphasize community involvement, innovation in delivery channels, and a range of services designed to support both individuals and small businesses.
Map Location
Services this business provides
Bank
ATM
Business banking service
Business to business service
Financial consultant
Financial planner
Insurance agency
Investment service
Loan agency
Mortgage lender
Contact Information
Frequently Asked Questions about Salem Five Bank
Does Salem Five Bank have other locations in Lynn?
Based on our directory, this appears to be the only Salem Five Bank location in Lynn, Massachusetts. However, Salem Five Bank may have additional branches in other cities or states. Contact the company directly or visit their website to confirm all available locations.
Can I contact Salem Five Bank online?
Yes, Salem Five Bank offers online contact options through their website. You can visit their website at salemfive.com to access online services, customer support, or contact forms. Many financial institutions also provide email support, live chat, and mobile app options for customer inquiries.
How can I verify that Salem Five Bank is legitimate?
To verify Salem Five Bank's legitimacy, check if they are licensed with Massachusetts's Department of Financial Services or Consumer Credit Division. Licensed lenders must display their license number and comply with state lending regulations. Verify their registration through the Nationwide Multistate Licensing System (NMLS) if applicable. Review their Better Business Bureau rating and check for any complaints filed with state consumer protection agencies. Legitimate lenders will provide clear terms, proper disclosures, and will not ask for upfront fees before processing your application.
What are the main requirements to work with Salem Five Bank?
Requirements to apply for a loan with Salem Five Bank typically include: proof of identity (government-issued ID), proof of income (pay stubs, tax returns, or bank statements), proof of residence, Social Security Number, and information about existing debts. Lenders will evaluate your credit score, debt-to-income ratio, employment history, and ability to repay. Some loans may require collateral or a co-signer. Minimum credit score and income requirements vary by loan type and lender. Contact Salem Five Bank directly to understand their specific eligibility criteria, as requirements can differ based on the loan product and your financial situation.