Salem Five Savings Account Named One of the Best Savings Accounts for 2017

July 2017

Salem, Mass., July 6, 2017 – Salem Five is pleased to announce that WalletHub, a personal finance website, has selected the bank’s eOne Savings Account as one of the Best Savings Accounts for 2017 in the "Best Savings Account Overall" category. WalletHub editors compared nearly 480 savings and money market accounts from 233 banks and credit unions.

The eOne Savings Account currently earns an industry-leading rate of 1.25% APY with no required customer commitment. Additional account features include:

  • FDIC and DIF insurance
  • Free Online banking and mobile banking app
  • Mobile deposit and text alerts
  • External transfers to move money in and out of the account easily

“We are delighted that one of our Salem Five Direct accounts has been recognized by one of the country’s top personal finance websites,” said Jay Spahr, Senior Vice President of e-commerce at Salem Five. “Whether we do business with our customers face-to-face or online, we’re committed to offering top-quality products and a customer experience that's second to none.”

Salem Five Direct is an online only division of Salem Five Bank, whose mission is to offer unprecedented value to direct banking customers through exclusive product features at highly competitive prices.

Salem Five Bancorp is the parent bank holding company of Salem Five (, a mutual institution founded in 1855. Salem Five aims to make money less complicated and thereby make customers’ lives simpler and easier by offering sophisticated retail and commercial banking products, personalized service and innovative technology. Salem Five is one of the largest Massachusetts-headquartered banks with $5 billion in assets and 35 retail branches in Essex, Middlesex, Norfolk and Suffolk counties and southern New Hampshire. Divisions include Salem Five Mortgage Company, which has financed more homes than any other Massachusetts bank; Salem Five Financial which offers financial and retirement income planning, portfolio review and money management; and Salem Five Insurance Agency, which provides personal and commercial insurance. Salem Five deposits are insured through the FDIC and DIF. Salem Five Mortgage Company’s NMLS # is 4662. Equal Housing Lender. Securities are offered through LPL Financial, member FINRA/SIPC. Life insurance products are offered through LPL Financial or its licensed affiliates. Insurance and investment products are not FDIC insured, not bank guaranteed, may lose value, not a deposit, and not insured by any federal government agency.


James Nelson
(978) 720-5370