Salem Co-operative Bank was founded to, and remains committed to, provide financial services with honesty and integrity, while maintaining its position as a financially sound cornerstone of the community.In the early 1920s, business and community leaders from the Salem area recognized a need and joined together in a common cause - to establish a bank to serve the community of Salem Depot, its residents and its businesses. As a result of their effort, Salem Co-operative Bank was founded in 1922, the first bank ever headquartered in Salem , New Hampshire . The Bank was founded "For the purpose of accumulating savings of its members and the loaning of the funds so accumulated to them to enable them to purchase homes and improve their conditions