Account Opening FAQs

How do I open an account? (Checking, Savings or CDs)

Existing Salem Five customers can simply sign on to Salem Five Online Banking.

Look for the "Get Started Today" dropdown menu on a number of website pages. Select the account you are interested in and click "GO". From there you will be on your way to opening an account.  You can also visit the Account Rates page and click the apply button with any product listed.  You can visit any of our locations during business hours and work with one of our associates to learn more about opening accounts.

To download Salem Five's Account Application, click here. You will need to print, sign and mail it to the following address:

Salem Five
ATTENTION: Customer Service
210 Essex Street
Salem, MA  01970

Can I open multiple accounts with one easy application?

Yes, we offer many Star and Gold Star Checking combo accounts online.  Look for the "Get Started Today" dropdown menu on a number of pages. Select "Star Checking Combo" or "Gold Star Combo" and click "GO".

Who do I make the check out to for my initial deposit?

You can make your check payable to Salem Five, with your name on the memo line.

When will my account be opened?

Your account will be opened once we receive your initial deposit and all required account opening documentation.

How soon after I open an account will I receive my ATM/Debit card and checks?

You should receive your debit card and checks within seven to ten business days of opening your account.