Salem Five Charitable Foundation Again Surprises Non-Profits with Donations

Salem Five employee in front of Christmas tree giving a donation

Groups split $17,500 through the Bank’s annual “Make a Difference in December” Program

Salem, MA., December 19, 2022 – The Salem Five Charitable Foundation has awarded $17,500 to seven different not-for-profit organizations that provide clothing, energy assistance and other social services to underprivileged people and families, the Bank announced today.

Now in its third year, the Bank’s “Make a Difference in December” Program identifies organizations that did not receive grants from the Foundation during the calendar year, yet whose track record of helping people is well established – making them eligible to each receive a $2,500 donation.

“We’re fortunate to have so many great organizations helping people across eastern Massachusetts, so we’re pleased to do our part by supporting them with these donations,” said Salem Five President and CEO Ping Yin Chai. “This year, we wanted to focus on helping people stay warm – whether through clothing or fuel assistance – given the critical need in these two areas this winter.”

The following organizations received grants from the Salem Five Charitable Foundation:

  • Action for Boston Community Development, Malden
  • Catie’s Closet, Dracut
  • The Hamilton Foundation, Hamilton\Lynn Economic Opportunity, Lynn
  • North Shore Community Action Program, Peabody
  • Pajama Program/North Shore, Salem
  • Santa’s Helping Hand, Lynn
Founded in 1996, the Salem Five Charitable Foundation works to support not-for-profit organizations that are making a positive impact in the communities served by the Bank, ensuring vibrant and viable futures for the people they serve.

About Salem Five Bank

Salem Five Bancorp is the holding company of Salem Five (, a mutual bank founded in 1855. Whatever the need and whatever the goal, Salem Five’s banking, investment and insurance professionals have the expertise to move customers forward. Salem Five has more than $6 billion in assets and 33 retail branches in Essex, Middlesex, Norfolk and Suffolk counties. Divisions include Salem Five Mortgage Company, one of the largest mortgage lenders headquartered in New England; Salem Five Wealth Management & Trust, which offers fiduciary wealth management services to institutions and high-net-worth individuals, financial and retirement income planning, portfolio review and money management; and Salem Five Insurance Services, which provides personal and commercial insurance. Salem Five deposits are insured through the FDIC. Salem Five Mortgage Company’s NMLS # is 4662. Equal Housing Lender. Securities are offered through LPL Financial, member FINRA/SIPC. Life insurance products are offered through LPL Financial or its licensed affiliates. Insurance and investment products are not FDIC insured, not bank guaranteed, may lose value, not a deposit, and not insured by any federal government agency.


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