Earn $100* with new BankFive Checking Account
Open a new personal checking account at our Warwick branch and get a $100 bonus* after you set up direct deposit and opt into eStatements.
Stop in at our Warwick branch today to take advantage of this special, limited-time offer. Located at 1060 Centerville Rd. in Warwick, RI, we're open Monday-Friday, 9:00 AM to 4:00 PM.
*$10 minimum deposit required to open Free Checking, eAccess Checking, Student Checking, or Relationship Checking account. Fees will apply for other services such as overdraft fees and stop payment fees. Refer to our Account Disclosures for the terms and APY (if applicable) of each account option. Set up of monthly direct deposit and enrollment in electronic statements are required to earn bonus. $100 bonus will be credited to the account within 60 days of conditions being met. Conditions include: first direct deposit being made into the account, and enrollment in electronic statements. Both of these conditions must be completed within 60 days of account opening. BankFive will issue a 1099 for the $100 bonus. Offer subject to change without notice. Other terms and conditions may apply. All account disclosures are provided in English. Account must be opened by 12/31/24.
Why try a community bank?
At BankFive, we come together to serve the needs of our customers and local communities, not stockholders. Here are some things that make us different than your average bank:
- We're a mutual savings bank. A mutual bank is similar to a credit union, in that it's owned by its accountholders instead of shareholders. Because we're not focused on producing large stock returns, we can instead prioritize community betterment. While commercial banks are typically managed by a board of directors chosen by stockholders, our board of directors is made up of local leaders who live and work in our community. They are selected by a group of corporators who are real BankFive customers.
- We insure deposits past FDIC limits. We're insured by both the FDIC and the Depositors Insurance Fund (DIF), which means that our customers have 100% insurance on their deposits, even beyond the conventional FDIC limit of $250,000 per accountholder.
- We reinvest local dollars back into our community. When our customers deposit money at BankFive, those dollars are used to fund the loans we issue locally. This local reinvestment helps our Rhode Island borrowers get the funds they need to buy homes, finance major purchases, and grow their small businesses.
- We give back. Our employees volunteer thousands of hours each year to local community organizations like the United Way, Salvation Army, Year Up, Credit for Life, EforAll Rhode Island, Junior Achievement, and many more! Also, through our Charitable Foundation and Charitable Giving Program, we provide financial support to the local community, investing in community events and organizations like the Kent County YMCA and the House of Hope CDC.
- Our customers are more than just an account number. We take pride in building personal relationships with our customers. We're focused on their needs and welcome their feedback every step of the way. While we love hearing about a job well done, we're equally interested in hearing about what we can do better. We have thousands of customer reviews and use that feedback to help us grow, improve our processes, and provide the best customer service possible.
- We tailor our products to fit the unique needs of our community. Our employees work and live in the local community, and that helps us understand what types of financial products our customers are looking for. We partner with Rhode Island Energy to provide RI homeowners with interest-free loans to make their homes more energy-efficient, we work with Rhode Island Housing to offer flexible low- and no-down payment mortgage loans, and we offer a variety of business loans to help Rhode Island small businesses grow and flourish.
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