Salem Five (also known as Salem Five Cents Savings Bank or Salem Five Bank) is a traditional
American
American(s) may refer to:
* American, something of, from, or related to the United States of America, commonly known as the "United States" or "America"
** Americans, citizens and nationals of the United States of America
** American ancestry, pe ...
mutual savings bank founded in 1855. The bank provides
financial services
Financial services are the Service (economics), economic services provided by the finance industry, which encompasses a broad range of businesses that manage money, including credit unions, banks, credit-card companies, insurance companies, acco ...
including
private banking,
checking,
deposit, and
savings accounts. In addition, Salem Five Bank also offers
mortgages
A mortgage loan or simply mortgage (), in civil law jurisdicions known also as a hypothec loan, is a loan used either by purchasers of real property to raise funds to buy real estate, or by existing property owners to raise funds for any pu ...
,
HELOCs,
insurance
Insurance is a means of protection from financial loss in which, in exchange for a fee, a party agrees to compensate another party in the event of a certain loss, damage, or injury. It is a form of risk management, primarily used to hedge ...
, and commercial lending such as aviation and construction
loans. The company headquarters is located at 210 Essex Street in
Salem, Massachusetts
Salem ( ) is a historic coastal city in Essex County, Massachusetts, located on the North Shore of Greater Boston. Continuous settlement by Europeans began in 1626 with English colonists. Salem would become one of the most significant seaports tr ...
.
References
External links
Homepage
Banks based in Massachusetts
Banks established in 1855
1855 establishments in Massachusetts
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