Who We Are
From our modest beginnings in 1855 as a savings bank serving the people of Salem, we have steadily added services to help meet the complex financial needs of families and businesses throughout New England. Today, we employ some of the top professionals in lending, retail and internet banking, personal and commercial insurance, and wealth and trust management services -- enabling us to provide expertise that is uncommon among community and regional banks.
We take particular pride in our ability to help people achieve home ownership. Our residential mortgage division, Salem Five Mortgage Corporation, has helped more people buy homes than any other community bank headquartered in New England.
All the while, we’ve embraced new technologies, starting with the distinction of being the first bank on the internet in 1995 and continually seeking new and innovative ways to help our customers do business with us.
Salem Five is a Mutually Owned Bank
Salem Five is owned and operated for the benefit of its customers. As an FDIC insured mutual bank with no stockholders, we’re accountable to our customers, employees, and communities.
Mutual banks are a stable influence in local markets because most of our customers, both commercial and consumer, live and do business in our community. Since we’re not publicly held and have no stockholders, we can make business decisions with a long-term perspective, building mutually beneficial relationships and maintaining a great degree of flexibility. This charter of mutuality creates and nurtures our customer focused approach in all we do.
It's All About Community.
At Salem Five, we understand the importance of helping our communities. Through the Salem Five Charitable Foundation, we are committed and continue to support a variety of community organizations ensuring vibrant and viable futures for the people whom these critical organizations serve.