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Salem, Mass., May 30, 2017 – As part of its enduring commitment to help build self-sustaining, thriving communities, Salem Five recently awarded $25,000 to five local nonprofit organizations on behalf of the Heritage Salem Five Charitable Foundation.
The recipients were:
The Heritage Salem Five Charitable Foundation was created to honor the charitable giving legacy of Heritage Co-Operative Bank in its 2006 merger with Salem Five. Awards are granted semi-annually to nonprofit organizations operating in the communities of Beverly, Danvers, Marblehead, Peabody and Salem, MA who target one or more of its primary areas of focus: education, health and human services, youth programs, affordable housing and community development.
The foundation is overseen by President Donald S. Glass, who was a member of the board of directors at the former Heritage Co-Operative Bank and now serves as a member of the Salem Five executive board of trustees.
“Our community would not be what it is today without the tireless efforts of these organizations,” said Glass. “Their dedication to helping those in need serves as a reminder to us all that a healthy and sustainable community is one that takes care of its own. We could not be more proud of what this year’s recipients have been able to accomplish.”
Bancorp is the parent bank holding company of Salem Five (www.salemfive.com), a mutual institution founded in 1855. Salem Five aims to make money less complicated and thereby make customers’ lives simpler and easier by offering sophisticated retail and commercial banking products, personalized service and innovative technology. Salem Five is one of the largest Massachusetts-headquartered banks with $4.7 billion in assets and 34 retail branches in Essex, Middlesex, Norfolk and Suffolk counties and New Hampshire. Divisions include Salem Five Mortgage Company, which has financed more homes than any other Massachusetts bank; Salem Five Financial which offers financial and retirement income planning, portfolio review and money management; and Salem Five Insurance Agency, which provides personal and commercial insurance. Salem Five deposits are insured through the FDIC and DIF. 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.