Salem, Mass. – October 24, 2012 –Salem Five hosted a morning reception at its 210 Essex Street corporate headquarters in Salem to recognize the work of four non-profit agencies which supports regional communities. Each agency received a $5,000 grant from the Heritage Salem Five Charitable Foundation for the Fall 2012 program award cycle. The receiving organizations were Catholic Charities North, The Plummer Home for Boys, Sutton Home for Women and The Woman’s Friend Society.  In its sixth year of giving, the Heritage Salem Five Grant Program is administered through the Heritage Salem Five Charitable Foundation; grants are awarded twice each calendar year.

As a part of the application process, each of the organizations has specific plans for the grant awards: 

• Catholic Charities North (www.ccab.org/north) – establish Young Moms Community Support Group program
• The Plummer Home for Boys (www.plummerhome.org) – start its On Point program to serve youths in the Point neighborhood of Salem
• Sutton Home for Women (www.suttonhomeforwomen.com) – maintain infrastructure and facilities
• The Woman’s Friend Society – restoring and improving building facilities

Heritage Salem Five Charitable Foundation president, Donald S. Glass said, “It is a welcome opportunity to recognize and support the great work that each of these agencies produces.  Through their respective missions, they are answering needs and helping people and the community.”

The foundation, which was created to honor the charitable giving legacy of Heritage Co-operative Bank in its 2006 merger with Salem Five Bank, awards grants to non-profit organizations located in the communities where Heritage Bank was located, including  Salem, Marblehead, Beverly, Peabody and Danvers, Massachusetts.

Salem Five Bank has two foundations, the Salem Five Charitable Foundation and the Heritage Salem Five Charitable Foundation, that together serve as tangible examples of Salem Five’s commitment to philanthropy. The Salem Five Charitable Foundation is heavily focused on supporting economic self-sufficiency, workforce development and financial literacy. 

To learn more about the Heritage Salem Five Charitable Foundation, visit https://www.salemfive.com/index.php/about-salem-five/charitable-foundations.

Salem Five (salemfive.com) believes better banking starts with listening. A mutual institution founded in 1855, Salem Five designs and delivers sophisticated retail and commercial banking products and services coupled with smart technology. Among the first banks in the country to offer online banking, Salem Five continues to innovate, providing banking access wherever its customers need it: online, mobile, ATMs, offices, phone, email and more. Salem Five is one of the largest Massachusetts-headquartered banks with $2.9 billion in assets, and has 23 retail branches. Salem Five Mortgage Company finances more homes statewide than any other Massachusetts bank, and has offices throughout Massachusetts, Maine and Rhode Island. Salem Five Investment Services offers financial and retirement planning, portfolio review and money management with a focus on retirement income. Salem Five Insurance Services provides personal and commercial insurance. Stoneham Savings, a division of Salem Five Bancorp (stonesav.com), has assets over $335 million and provides a full range of financial services to individual consumers and small- and middle-market businesses through six branches in Middlesex County. Deposits are insured through the FDIC and DIF.

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