Preheat oven to 350 degrees
In a medium-sized bowl, combine flour, baking soda, baking powder, and salt. Set aside.
In a separate medium bowl using your electric mixer, beat butter, vanilla extract, and sugar until light and fluffy.
Add eggs, one at a time, mixing well after each addition
Add half the dry mixture to the wet mixture and stir until combined.
Add half the whole milk and stir until combined.
Repeat with remaining ingredients.
Fold in chocolate chips and maraschino cherries.
Spray your 9×5 loaf pan with non-stick baking spray
Pour the batter into a 9×5 loaf pan.
Bake for 45-50 minutes or until a toothpick inserted into the center comes out almost clean.
Remove from oven and allow to cool on a wire cooling rack.