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NerdWallet’s Picks for Community Bank Scholarships

Feb. 2, 2013
Personal Finance
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Paying for college isn’t always easy, and if you’re looking for ways to help fund your college experience, you don’t need to go any further than your local community bank. Many community banks invest a majority of their assets in their communities, and some go the extra mile and offer scholarships to local schools. Scholarships are a great way to help graduating high school seniors and undergraduate college students put a dent in tuition costs. Many community banks are dedicated to helping their communities grow, and scholarships for students pave the way for a better financial future.

Plan for the Future

These scholarships are awarded to students who plan on or are currently pursuing an undergraduate degree. Applicants should have proven leadership skills, academic excellence and a record of community service. If you aren’t eligible for the scholarships this year, that’s ok! You can start planning ahead for next year. Interested students should check out the full details at each community bank’s website and ask their high school guidance counselor for more information.

The Dime Bank Scholarship – Dime Bank (Norwich, CT)

In June 2012, Dime Bank awarded scholarships to 11 local high school students as part of their annual scholarship program, begun in 1995. The program’s aim is to provide financial assistance to students in the bank’s community, and reward them for academic and community success. Awards of $2,000 are given to graduating seniors who plan on pursuing a college degree. Dime Bank has 11 branches in Eastern Connecticut and Westerly, Rhode Island. If you go to high school in Norwich, East Lyme, Ledyard, Montville, New London, Stonington or Taftville, Connecticut, or Westerly, Rhode Island, visit your school’s guidance office for full details.

Banking on the Future Scholarship – Mechanics Savings Bank (Auburn, ME)

Mechanics Savings Bank has been helping local high school graduates pay for college for more than twenty years. Last summer, the bank awarded $1,000 scholarships to 16 high school graduates at 10 local schools as part of the Banking on the Future Scholarship program. The scholarship is open to graduating seniors who plan on attending a two or four-year college, university or technical school and have shown dedication to community and school. Mechanics Savings Bank has branches in Lewiston, Windham and Auburn, Maine. Ask your high school’s guidance counselor for full application details.

Annual Scholarship Program – Salisbury Bank (Lakeville, CT)

Dedicated to helping students who have proven financial need, Salisbury Bank’s Annual Scholarship Program awards $3,500 to 6 students each year. Students who may have difficulty affording college expenses and who have made an impact in their community are encouraged to apply for the scholarship. Students should be planning on pursuing an undergraduate degree and be able to demonstrate academic achievement, leadership skills and community involvement. Salisbury Bank has branches in Canaan, Salisbury, Lakeville and Sharon, Connecticut; Dover Plains and Millerton, New York; and Sheffield and South Egremont, Massachusetts. Visit Salisbury Bank’s website to download the application.

National Bank’s Business Scholarship – National Bank (Hillsboro, IL)

National Bank of Hillsboro awards $500 annually to graduating high school students who plan on working towards a degree in business or accounting. The National Bank’s Business Scholarship is provided to ensure students seeking careers in business have the opportunity to help pay their college tuition. Students must be in the top half of their class to apply. National Bank has 11 branches in South Central Illinois. Visit your guidance office or a National Bank branch near you for details.

The Peoples Community Bank Scholarship Fund – The Peoples Community Bank (Mazomanie, WI)

Each year, The Peoples Community Bank awards more than $5,000 to support future community leaders within the Barneveld, Wisconsin Heights and River Valley School Districts. Candidates are graduating seniors not related to officers of The Peoples Community Bank who are seeking post-secondary degrees and have demonstrated academic merit, leadership and community involvement. The Peoples Community Bank has branches in Spring Green, Plain, Barneveld, Arena and Mazomanie, Wisconsin. Visit your high school’s guidance office for full application details.

Fairfield National Bank Scholarship – Fairfield National Bank (Lancaster, OH)

Fairfield National Bank is looking to reward Ohio University, Lancaster Campus, students. The Fairfield National Bank Scholarship is offered to Ohio University students who graduated from a Fairfield County high school, are pursuing a degree in business administration and have a GPA of 3.25 or higher. Preference will be shown to students who show leadership and community involvement. In addition to funding, the scholarship also offers a paid internship at the bank to give students real-world experience. Fairfield National Bank has 13 branches in Fairfield County and 2 in Franklin County, Ohio. Students of Ohio University, Lancaster Campus should check their school’s financial aid website for more details.

Mansfield University Scholarship – First Citizens Community Bank (Mansfield, PA)

Since February 2008, First Citizens Community Bank has awarded two $1,000 scholarships annually: the Citizens First Community Bank Scholarship and the Citizens First Community Bank Employee Scholarship. The first is awarded to a Mansfield University student who lives within the community bank market and the second goes to an employee, or dependent of an employee, of the bank. Both scholarships are awarded to students who have shown academic excellence and community service. First Citizens Community Bank has 5 branches in Tioga County, 9 branches in Bradford County and 2 branches in Ulysses County, Pennsylvania, and 1 branch in Wellsville, New York. You can find more information about the scholarship at any branch location.

Independence Bank Annual Scholarship – Independence Bank (Owensboro, KY)

Independence Bank offers 16 scholarships for local high school students within Independence Bank’s 8 counties. In 2012, the bank gave out $59,800 to 9 local high school seniors who they believe show great promise for their communities. Students should be able to show academic achievement and community involvement, and a proven need for financial assistance. If you are a high school student in one of these 8 counties, visit your local Independence Bank branch, or go to their website, for application details. Independence Bank has locations in 10 Kentucky cities.

Community Foundation of Middle Tennessee Scholarship Program – Community Bank & Trust (Ashland City, TN)

Cheatham County, Tennessee, high school seniors are invited to apply for Community Bank & Trust’s scholarship program, administered by the Community Foundation of Middle Tennessee. $1,000 is awarded to students who present financial need, academic achievement and community involvement. Applicants must be residents of Cheatham County for one year and have a GPA of 3.0 or higher. Cheatham County high school students should check their guidance office or local Community Bank & Trust branch for more information. Community Bank has branches in Ashland City, Pegram, Kingston Springs, Pleasant View and Springfield, Tennessee.

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