Salem Five Partners with The Salvation Army for Holiday Toy Drive

Salem Five and The Salvation Army join forces to benefit families in need

Salem, MA., November 19, 2021 – Salem Five Bank is teaming up with The Salvation Army Massachusetts Division to collect new, unwrapped toys for children in need across eastern Massachusetts this holiday season, the bank announced today.

All Salem Five branch locations, as well as its corporate headquarters in Salem and insurance headquarters in Woburn, will serve as drop-off locations starting today and lasting through the end of December. The Salvation Army will gather and distribute the toys to children throughout the region.

“This partnership is important to us as we believe strongly in supporting the communities we serve,” said Ping Yin Chai, President and CEO of Salem Five. “There’s no time like the holidays to demonstrate this commitment.”

With lingering impact from the pandemic, there are many local families still struggling with pandemic poverty. As the largest private provider of social services, The Salvation Army remains on the frontlines of need to ensure that children and families in need will have food on the table, Christmas gifts to unwrap, and be able to afford to pay the bills to keep them in their homes. Receiving toys during this special time of year can make the holidays a bit brighter for them by delivering hope and putting smiles on young faces.

“We are pleased to join with Salem Five this year to better serve Essex and Middlesex counties this holiday season,” Major Marcus Jugenheimer, General Secretary, The Salvation Army Massachusetts Division.  “With Salem Five’s branch network and passion for the cause, we are anticipating a strong turnout.”

Contact us for more information on the toy drive, including toy ideas and drop off locations.


About Salem Five Bank

Salem Five Bank ( is 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 almost $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 and Trust Services, which offers financial and retirement income planning, portfolio review and money management; Salem Five Wealth Management & Trust offering fiduciary wealth management services to institutions and high-net-worth individuals, 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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About The Salvation Army

The Salvation Army annually helps more than 30 million Americans overcome poverty, addiction, and economic hardships through a range of social services. By providing food for the hungry, emergency relief for disaster survivors, rehabilitation for those suffering from drug and alcohol abuse, and clothing and shelter for people in need, The Salvation Army is doing the most good at 7,600 centers of operation around the country. In the first-ever listing of "America’s Favorite Charities” by The Chronicle of Philanthropy, The Salvation Army ranked as the country’s largest privately funded, direct-service nonprofit. For more information, visit Follow us on Twitter @SalvationArmyMA and #DoingTheMostGood