Salem Five Cents Savings Bank

Bank · Salem, United States · overall 4.8 / 10

How this 4.8 is built

Average of 6 scored needs: 4.8. Regulation in United States: 87/100 (World Bank governance indicators). Licence confirmed by a regulator's own list. 2 scores backed by filings or its own pages.

Salem Five Cents Savings Bank is recorded in the global register as a bank in Salem, United States. The register shows its licence as licensed. Total assets 8.82 bn USD at 2026-06-30. It reports 34 offices. Established 1855. Collected from open registers.

On its own website: “Salem Five Bank provides full-service financial services for the Greater Boston area, including banking, mortgage lending, loans, insurance and investments.”

Legal name: Salem Five Cents Savings Bank
Licence confirmed: yes, on a regulator's own list
Established: 1855
LEI: 5493006NTCY0P06JR884
Website: salemfive.com

Scores, 0 to 10

6.0United States

Licensed and operating in its home country per the register entry; the depth of its offer here has not been checked yet. · source

5.0Lowest fees

The bank's own page names the monthly account charge. Transfer and card prices were not read on that page, so this score speaks only for the monthly charge. It reads: “1.00% Interest Rate Open Now Classic Five Money Market℠ Minimum Balance to Open: $10 Monthly maintenance fee will be waived for the first month for new account openings” · source

5.0Best interest on business balances

Holds a banking licence, so it can hold deposits and run payments; the actual terms have not been checked yet. · source

5.0Trade, manufacturing & import-export

Holds a banking licence, so it can hold deposits and run payments; the actual terms have not been checked yet. · source

5.0Financial strength & stability

Financial strength placed by total assets from the public register. · source

4.5Fast digital onboarding

Holds a banking licence, so it can hold deposits and run payments; the actual terms have not been checked yet. · source

4.0Cross-border payments, FX and multi-currency accounts

Its own business page names SWIFT, so payments can leave the country. The score stops at 4.0 because the page did not give the currencies the account holds or the margin on the exchange rate, and the rubric needs both to go higher. · source

Sources

Built on public information and the BankStore team's own aggregated experience; no confidential client or partner data. Bank Index and BankStore are not banks. This is information, not financial advice.