Get to Know Us
We're a different kind of bank
Salem Five is a Full-Service Financial Services Company
Whatever the need and whatever your goal, Salem Five’s banking, investment and insurance professionals have the expertise to move you forward. We believe our success is measured by your success. That’s why we say, what moves you, moves us too.
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.
Over the years, Salem Five has received numerous awards for its service and technology. These have included distinctions such as Forbes “Best in State Banks” for 2022 as well as designations such as earning VERIBANC's highest rating – “Green with 3 Stars” – for the quarter ending September 30, 2023. VERIBANC is a leading provider of bank safety ratings and research. Please contact VERIBANC, (800) 442-2657, to determine if this is the most recent rating. Moreover, Salem Five has received the highest rating from Bauer Financial – five stars – for 55 consecutive quarters dating back to 2009. Bauer has been analyzing and reporting on the financial condition of the nation’s banking industry since 1983 and is a source for unbiased, independent bank and credit union ratings. For more information, please contact Bauer at (800) 388-6686.
Located on the Pedestrian Mall Walkway
210 Essex Street
Salem, MA 01970
Services Available: 24-hour ATM available off of the pedestrian walkway
Salem, MA is located approximately 16 miles (30 minutes) north of Boston and is bordered by Beverly, Danvers, Lynn, Marblehead, Peabody, Swampscott and the Atlantic Ocean. Major routes through the city are 1A, 107 and 114 (connects with Routes 128, 95 and 1). Boston & Maine Railroad serves Salem with freight service, and the MBTA maintains a commuter rail stop and inter-/intra-city bus service. Air service is available from Beverly Airport (5 miles away) and Logan International Airport (16 miles away). Access is also available by water from Boston on the Salem Ferry.
Parking Options –
Church Street Lot: Multi-space metered lot located across from "The Essex" Condominiums. Multi-space meters accept credit cards, cash or by the Passport Parking mobile app and must be paid before leaving your car.
Salem Green Lot: Metered lot located next to Salem Five Investment Services.
Museum Place Garage: The garage costs $1.25/hour paid at kiosks throughout the garage. The Museum Place garage is located across the street from the Salem Regional Visitor Center.
Meters: On street parking meters are located throughout the downtown area and can be paid via credit cards, cash or the Passport Parking mobile app.
Directions to Salem, MA –
From Route 128-North: Take exit 25A and follow Route 114-East into Salem. Once in Salem, follow signs to the Salem Visitor Center, Museum & Historic Sites and Downtown Parking. Please note: I-95 North and Route 128-North share the same road for the loop around Boston. When the roads divide, stay on Route 128-North. At this point, the exit numbers jump from #45 to #28.
From Logan Airport: Take Route 1-A North and at Salem Border, follow the signs for the Salem Visitor Center, Museum & Historic Sites and Downtown Parking. Logan International Airport is the closest airport to Salem. The Manchester, New Hampshire, regional airport is one-hour northwest of Salem.
From the North: Take I-95 South (Maine) or I-93 South (New Hampshire) to Route 128-North. Take exit 25A and follow Route 114-East into Salem. Once in Salem, follow signs to the Salem Visitor Center, Museum & Historic Sites and Downtown Parking. Please note: I-95 North and Route 128-North share the same road for the loop around Boston. When the roads divide, stay on Route 128-North. At this point, the exit numbers jump from #45 to #28.
From the West: Take I-90-East to I95/Route 128 North. Take exit 25A and follow Route 114-East into Salem. Once in Salem, follow signs to the Salem Visitor Center, Museum & Historic Sites and Downtown Parking. Please note: I-95 North and Route 128-North share the same road for the loop around Boston. When the roads divide, stay on Route 128-North. At this point, the exit numbers jump from #45 to #28.
From the South: Take Route 93 North to the Mass Pike (I-90 East) via the Ted Williams tunnel (Exit 23) East to Route 1A North. Take Route 1A North to Salem.