Homepage

In order to apply, you will require:

eOne Savings

eligibility is limited to consumers who apply online and who do not have an existing checking or savings account with Salem Five Bank at the time of the application, except that consumers with an existing eOne Checking Account are eligible for the eOne Savings Account.

¹eOne Savings earns 5.01% APY (Annual Percentage Yield) on daily balances of $0.01-$1,000,000 and must be opened with funds not previously on deposit with Salem Five or Salem Five Direct. Salem Five reserves the right to transfer balances over $1,000,000 to a Statement Savings Account which currently earns an APY of .01%. eOne Savings may be used to provide overdraft protection for eOne Checking.

You must deposit at least $10 to open this account. The stated APY applies to new eOne accounts opened as of today’s date. Fees may reduce earnings.

In order to apply, you will require:

During the application process, eOne Checking is only available to individuals who apply online and do not already have a checking account with Salem Five Bank. The account must be opened using funds that are not currently held by Salem Five Bank.

¹eOne Checking earns 0.01% APY (Annual Percentage Yield) on daily balances of $0.01 – $1,000,000. Salem Five reserves the right to transfer balances over $1,000,000 to the eOne Funding Account which currently earns an APY of 0.10%.

**With an eOne Checking Account, Salem Five will never charge a fee for ATM transactions conducted at non-Salem Five ATMs, and we will reimburse the fees other banks charge up to $15 per statement cycle.

You must deposit at least $10 to open this account. The rate may change after the account is opened. The stated APY applies to new eOne accounts opened as of today’s date. Fees may reduce earning. Rewards apply to point-of-sale, non-PIN based debit card transactions (when you choose “credit”) with no minimum purchase amount and no cap to the cash rewards you may earn. ATM and PIN based transactions do not qualify. Cash Debit Rewards is at the rate of $0.05 for each debit card purchase (when you choose “credit”). Rewards accrued are credited to your account on the last day of the statement cycle in which the purchase is posted. Your account must be open and in good standing on the date the rewards are posted to receive the reward. We reserve the right to deduct rewards credits if you return merchandise for which you have qualified or received debit rewards. Any taxes related to debit rewards are the recipient’s sole responsibility. Program may be terminated at any time at our sole discretion. This offer is not available at Salem Five branch locations. Consumer accounts only.

eOne Checking^TM and eOne Savings^TM

This bundled combo includes the eOne Checking and the eOne Savings account for additional value. Easy online application for opening multiple accounts.

In order to apply, you will require:

eOne Savings

eligibility is limited to consumers who apply online and who do not have an existing checking or savings account with Salem Five Bank at the time of the application, except that consumers with an existing eOne Checking Account are eligible for the eOne Savings Account.

¹eOne Savings earns 5.01% APY (Annual Percentage Yield) on daily balances of $0.01-$1,000,000 and must be opened with funds not previously on deposit with Salem Five or Salem Five Direct. Salem Five reserves the right to transfer balances over $1,000,000 to a Statement Savings Account which currently earns an APY of .01%. eOne Savings may be used to provide overdraft protection for eOne Checking.

You must deposit at least $10 to open this account. The stated APY applies to new eOne accounts opened as of today’s date. Fees may reduce earnings.

During the application process, eOne Checking is only available to individuals who apply online and do not already have a checking account with Salem Five Bank. The account must be opened using funds that are not currently held by Salem Five Bank.

¹eOne Checking earns 0.01% APY (Annual Percentage Yield) on daily balances of $0.01 – $1,000,000. Salem Five reserves the right to transfer balances over $1,000,000 to the eOne Funding Account which currently earns an APY of 0.10%.

**With an eOne Checking Account, Salem Five will never charge a fee for ATM transactions conducted at non-Salem Five ATMs, and we will reimburse the fees other banks charge up to $15 per statement cycle.

You must deposit at least $10 to open this account. The rate may change after the account is opened. The stated APY applies to new eOne accounts opened as of today’s date. Fees may reduce earning. Rewards apply to point-of-sale, non-PIN based debit card transactions (when you choose “credit”) with no minimum purchase amount and no cap to the cash rewards you may earn. ATM and PIN based transactions do not qualify. Cash Debit Rewards is at the rate of $0.05 for each debit card purchase (when you choose “credit”). Rewards accrued are credited to your account on the last day of the statement cycle in which the purchase is posted. Your account must be open and in good standing on the date the rewards are posted to receive the reward. We reserve the right to deduct rewards credits if you return merchandise for which you have qualified or received debit rewards. Any taxes related to debit rewards are the recipient’s sole responsibility. Program may be terminated at any time at our sole discretion. This offer is not available at Salem Five branch locations. Consumer accounts only.

High-yield Certificates of Deposit

A CD from SalemFive Direct is an easy way to be smart about your savings. There are no monthly fees and you get the piece of mind of FDIC coverage ensures the safety of your complete funds.. Open an account online in just minutes.

Member FDIC

For each ownership classification, for each financial institution, and for each individual, the designated insurance sum is $250,000. Depositors’ accounts are protected by FDIC insurance up to the coverage limit, which includes the principal amount and any accumulated interest until the date the insured bank ceases operations. This coverage applies to accounts held through a physical branch location, salemfive.Com, or salemfivedirect.Com, with a one-to-one matching of funds.

FAQs

Salem Five is a member of The FDIC (Federal Deposit Insurance Corporation). The initial $250,000 per account holder is protected by the FDIC.and is backed by the full faith and credit of the United States government.

No. The FDIC has always paid deposits in full up to its insurance limit. No depositor has ever lost a penny in an FDIC member bank since it was established in 1933.

Based on past experience, arrangements would be made for all deposits to be automatically transferred to another bank. All your deposit funds would be available with no interruption of service.

No. FDIC only cover deposits.

Visit the FDIC website where you can access additional information.

Deposit Insurance Coverage (FDIC)

The FDIC insures all deposits.

Watch the video to learn more about how FDIC insures all deposits, including checking accounts, savings accounts, NOW accounts, money market deposit accounts, certificates of deposit, and deposit accounts.