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Salem Five Cents Savings Bank

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Salem Five Cents Savings Bank Rates & Review April 2026

Q: Are credit management and repair services offered?

While formal credit repair services are not currently listed, Salem Five Cents Savings Bank provides members with tools to manage their accounts and build a solid financial history.

Content reviewed by

Brian McKay

| Editorial Disclosure | ✓Fact Checked | Rates Last Updated: April 22, 2026

Salem Five Cents Savings Bank's 5-Month & 7-Month Limited-Time CD/IRA Specials rates are at 4.10%. MonitorBankRates evaluates the financial stability of Salem Five Cents Savings Bank with a 5.0 Star Rating, an A+ Overall Health Grade, and a Texas Ratio of 3.01%. Rates were last updated on 04/22/2026.

Salem Five Cents Savings Bank money market rates, and other rates, are continually updated to reflect market conditions. We recommend checking back frequently to get the best money market rates and other rates available. Have you opened an account or have any experiences at Salem Five Cents Savings Bank? Share your experience about Salem Five Cents Savings Bank by leaving a review below, or read customer reviews before you decide to use Salem Five Cents Savings Bank.

Overall Health & Safety Grade

A+

Exceptional Health Score: 98/100

MonitorBankRates Rating

5.0

Exceptional Out of 5.0 Stars

Texas Ratio

3.01%

Excellent Lower than avg

Salem Five Cents Savings Bank

71 Washington St
Salem, MA 01970

https://www.salemfive.com

Salem Five Cents Savings Bank CD Rates

Product	Rate	APY	Term	View More
5-Month & 7-Month Limited-Time CD/IRA Specials	-	4.10%	5-Month & 7-Month
Min Balance $10,000 Details Minimum balance of $10,000 required for non-IRA CD Special; Minimum balance of $2,000 required for IRA CD Special. Last Updated 04/22/2026 Institution Ratings 5.0 Star Rating A+ Health Grade ◈ Texas Ratio: 3.01%

Important: Rates, terms, and conditions are subject to change without notice. The rates displayed are for information purposes only. Please confirm all rates and terms directly with the financial institution. We strive to keep this information accurate but cannot guarantee it.
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Methodology & Data Sources

MonitorBankRates Star Rating: Our rating for Salem Five Cents Savings Bank is derived from comprehensive financial data published quarterly by the FDIC. Our proprietary rating system evaluates financial stability (including the Texas Ratio and capitalization) and combines it with customer feedback (user reviews) to help you make informed banking decisions.

Texas Ratio: We calculate the Texas Ratio using standard industry methodology. This ratio compares the bank's non-performing assets to its tangible common equity and loan loss reserves to assess financial health.

Rate Data Aggregation: We gather Salem Five Cents Savings Bank rates using proprietary online rate aggregation technology. Our systems scan constantly to provide the most recent rates available to our visitors.

Disclaimer: Interest rates are variable and subject to change without notice. While we strive for accuracy, rates can change rapidly based on market conditions. It is always advisable to check with Salem Five Cents Savings Bank's official website for the most current offers and terms.

Bank Profile & Overview

Institution Name Salem Five Cents Savings Bank

Bank Holding Company SALEM FIVE BCORP

Address 71 Washington St, Salem, MA 01970 · Essex

Website https://www.salemfive.com

FDIC Certificate # 23296

Established 03/09/1855

FDIC Insurance Date 01/02/1981

Domestic Offices 34

Total Branches 34

Regulator FDIC

FDIC Insured ✓ Yes — Up to $250,000

Financial Health & Assets

A+

Overall Health Grade Score: 98/100

5.0

Exceptional Out of 5.0 Stars

3.01%

Texas Ratio Nat'l avg: 5.85%

Return on Assets (ROA) 0.9289%

Return on Equity (ROE) 8.1500%

Non-Performing Loans (NPL) 0.14%

Total Assets $8,538,245,000

Total Deposits $5,955,731,000

Equity Capital $963,423,000

Net Income $73,591,000

Headquarters Salem

Total Offices 34

Source: FDIC | Last Updated 12/31/2025

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Frequently Asked Questions About Salem Five Cents Savings Bank

Is Salem Five Cents Savings Bank a safe place to deposit money?

Yes, Salem Five Cents Savings Bank is considered a safe financial institution. With a Texas Ratio of 3.0095475558679%, the institution's financial health is rated as excellent. Your accounts are federally insured by the FDIC (Federal Deposit Insurance Corporation) up to $250,000 per depositor, for each account ownership category.

How many branches does Salem Five Cents Savings Bank operate?

Salem Five Cents Savings Bank currently maintains approximately 34 branch location(s). Physical branches allow members to access in-person services such as notary consultations and safe deposit boxes.

Is there a first-time homebuyer program?

Currently, Salem Five Cents Savings Bank does not list a specific first-time homebuyer program, but they provide a range of mortgage and home equity products to assist members with property financing.

Are credit management and repair services offered?

While formal credit repair services are not currently listed, Salem Five Cents Savings Bank provides members with tools to manage their accounts and build a solid financial history.

Does Salem Five Cents Savings Bank offer online and mobile banking?

Most modern institutions like Salem Five Cents Savings Bank provide digital access. This includes the ability to check balances, transfer funds, deposit checks via mobile app, and view statements online. You can usually find these services at their official website: https://www.salemfive.com.