To open an account:

With a minimal amount of personal information including your driver’s license number, the name of your current bank for personal checking, account number and routing number, you can complete our online application

We will send two small deposit amounts to your personal checking account which you need to verify with your existing bank by reviewing your transaction history

Let us know you received both deposits and verify amounts after selecting Review Application on our homepage at www.VirtualBank.com

Eligibility limited to online consumer applicants who do not have existing deposit accounts with Salem Five.

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.

Earn 3.50% APY on average daily balances of $100,000-$999,999. Earn 3.00% APY on average daily balances of $0-$9,999, 3.10% APY on $10,000-$24,999, 3.20% APY on $25,000-$99,999 and 0.50% APY on balances of $1,000,000 or more. Minimum to open this account online is $100.00. The rate may change after the account is opened. The stated APY applies to new eOne accounts opened after 3/24/2008.

$25 bonus is an interest credit to be posted to your account within 60 days of initiating a recurring direct deposit such as payroll or social security payments. The recurring direct deposit must be initiated within 90 days of account opening.

Account requires eStatements. This offer is not available at Salem Five branch offices. Consumer accounts only.

Vineyard is among the growing group of Southland lenders battered by a wave of housing defaults, including mortgage giants Countrywide Financial Corp., which was acquired by Bank of America in January, and IndyMac Bancorp, which failed last month and was taken over by regulators.


Vineyard, with 16 branches, has been crunched by giant losses suffered by home builders and developers. In its quarterly report Wednesday, the bank said the Office of the Comptroller of the Currency had ordered it not to accept or renew any brokered deposit accounts -- one in a series of measures designed to improve the bank's stability.

NEW YORK (CNNMoney.com) -- If Citigroup contacts you about a bond-like investment you made some time ago, don't ignore it. You could benefit from an unusual settlement that will allow you to get back 100% of your investment's value.

Citigroup announced Thursday that by Nov. 5 it would buy back so-called auction-rate securities from individual investors, charities and businesses with assets of $10 million or less.