Using a Sinking Fund to Save
Hearing the name "sinking fund" may give you the wrong idea, mainly if you've never heard of one before. A sinking fund differs from a savings account because money ...
Overdraft Protection
Convenience, savings, and peace of mind
Everyone makes mistakes, but with Salem Five Overdraft Protection1, you can protect yourself from those little accounting errors that can have big consequences. Avoid the embarrassment of having a check returned—and the resulting overdraft fees. Overdraft Protection gives you:
- A revolving credit line on your Salem Five checking account
- Automatic access to funds, up to your available credit limit, whenever your checking account has insufficient funds
- A way to avoid the complication and expense of returned checks
Other Articles of Interest
How Inflation Impacts Your Finances
Inflation has made its impact in the past couple of months. If you've noticed an increased cost of goods and services, that's due to inflation. While inflation is natural ...
Dealing With High Gas Prices
Gas prices have been surging in 2021/2022 due to inflation and supply-chain issues related to the pandemic. Then, more recently, the war in Ukraine has ...
1Applications for a Salem Five's Overdraft Protection Account are subject to credit approval. The Account provides overdraft protection for a Salem Five checking or money market savings account. The fixed Annual Percentage Rate on the Account is 18% and has a $25 annual fee. Rates and other terms are accurate as of today and are subject to change thereafter.