The most convenient way to pay your loan is by setting up automated reoccurring payments (AutoPay).
Download AutoPay Form
Print and mail the form back to the address on the form. Note: this will be an automated monthly withdrawal from your account.
WRITTEN NOTIFICATION FOR AUTOPAY MUST BE RECEIVED BY YOU AT LEAST THIRTY (30) DAYS PRIOR TO THE DATE OF THE NEXT SCHEDULED DEBIT ENTRY.
The AutoPay form must be received by Salem Five at least thirty (30) days prior to the scheduled payment due date to take effect. Please continue to make your regular payment until your bill reflects the AutoPay setup. Once I have set up my auto deduction, can I still add extra funds to principal at any time? A recurring additional principal payment can be set up through AutoPay by contacting Salem Five Attn: Loan Operations, 210 Essex St., Salem, MA 01970. If you would like to make a principal payment separate from your AutoPay, please mark "Principal Payment" on your check.