Debit Card Updates

FAQs

• Why is Salem Five eliminating the rewards?

  At Salem Five, we’re committed to providing sustainable, long‑term value across all our banking products. Due to recent changes in the overall economics of offering debit cards, we are retiring our Debit Card Cash Back Rewards program so that we can redirect our investment into technologies and services that better support our customers’ financial needs.
  
  Traditional rewards programs often encourage additional spending to meet transaction thresholds. Instead, we want to support our customers in keeping more of their money working for them—not spending more to earn more.

• When will my final rewards be posted to my checking account?
  Final rewards will be posted with statements cut between April 30, 2026, and May 31, 2026.
• When is the last day to earn rewards?
  April 30, 2026, is the last day to earn rewards.
• Will there be any changes to my checking account or debit card?
  No, at this time there will be no changes to your checking account or debit card other than rewards no longer being offered.
• What alternative rewards or benefit programs are available?
  To continue providing value, we are introducing a new feature: Debit Card Round Up. When enrolled, eligible point-of-sale purchases made with your Salem Five Debit Card will automatically round up to the next whole dollar. The rounded-up amount will be transferred at the end of each day from your checking account into a designated savings or money market account of your choice.
  
  If you would like to enroll in Debit Card Round Up or learn more, please visit any Salem Five location or contact us at (800) 850-5000.
• Who can I contact with questions?
  Please visit any Salem Five location or contact us at (800) 850-5000.