Conforming Loan Payment Information
In order for your payment to be considered conforming, all payments must be made in US currency and must be accompanied by the account number and/or payment coupon provided. Mailed payments must be sent to Bank of Salem, 100 W. 4th St., P.O. Box 459, Salem, MO 65560. Loan payments may also be made in person to personnel at any of our bank locations. These payments will be posted and credited to the account as of that business day (except bank holidays) when received during our hours of operation as follows:
Main Bank Location – 100 W. 4th Street, Salem, MO 65560
Monday through Friday -- 8:30 AM to 3:00 PM
Drive-In Bank Location – 1001 S. Main Street, Salem, MO 65560
Monday through Thursday -- 7:30 AM to 5:30 PM
Friday -- 7:30 AM to 6:00 PM
Saturday -- 8:00 AM to 12:00 PM
Business days are defined as Monday through Friday, excluding federal holidays. Please note that Bank of Salem’s business day cut-off time is the branch closing time.
Loan payments received after the close of business will be posted and credited to the account as of the date received or as otherwise permitted by law.
Loan payments may be delivered to the night depository box after hours of operation at either of our locations and will be posted and credited as of the date received or as otherwise permitted by law.
Loan payments may be made by transferring funds from a Bank of Salem Deposit Account to a Bank of Salem Loan Account through the Online Banking service on our website at www.thebankofsalem.bank. Payments will be posted and credited to the account as of that business day if the payment is posted by 6:00 PM. Payments posted after 6:00 PM or on a Saturday, Sunday, or a Bank holiday will be posted and credited to the account as of the next business day.
Loan payments received by wire are considered nonconforming. Nonconforming payments may take longer to process.