Centier Bank announces $100,000 in scholarships
Item
Title
Centier Bank announces $100,000 in scholarships
Creator
Herald News Group
Date
February 8, 1995
Identifier
SN.01.733
Subject
Community, Michael Schrage, Henry Schrage, Anniversaries, 100th Anniversary, Centennial
Original Format
newspaper
Text
As a part of its centennial anniversary celebration, Centier Bank announced that it is seeking to become more involved with the future of today's youth by establishing the Schrage Family Scholarship Foundation.
At a tea held at the Patio restaurant on Jan. 25, Mike Schrage, president of Centier Bank, unveiled a check for $100,000 to establish an academic scholarship.
The foundation will award a $2,000 scholarship to a graduating high school senior from each of the 10 communities which has a Centier location.
This includes seniors from Merrillville High School, Griffith High School, Whiting High School, Lake Central High School, George Rogers Clark High School, Lowell High School, Chesterton High School, Highland High School, Valparaiso High School, and Crown Point High School.
The scholarship will be administered in increments of $500 over a four-year period, said Schrage.
Guidance counselors and principals in each of the 10 schools will select three potential candidates based on scholastic achievement, involvement and leadership within the school and community, and general need.
The scholarship is not restricted to any college or only to customers of Centier Bank, said Schrage.
"Where many scholarships are based on solely academics, we are based on personality profile," he said.
The recommendations from the counselors and principals will be submitted to a Centier Bank selection committee, which will select one student from each school.
In June, the bank will hold a banquet for the recipients, their parents and the teachers the students said was their most influential in high school.
Schrage said that the fund will be supplemented over the years through donations and the interest earned from the account.
In the future, Schrage said the scholarship will be perpetual, growing to give away approximately $20,000.
Centier Bank will also give each of the recipients priority for summer employment.
The deadline for applications is April.
Centier will also be sponsoring other community events to coincide with the banks 100th anniversary. It was founded in 1895 as First Bank of Whiting. It was established by Henry Schrage, and has been run by that family for over four generations. It changed its name to Centier in 1992.
At a tea held at the Patio restaurant on Jan. 25, Mike Schrage, president of Centier Bank, unveiled a check for $100,000 to establish an academic scholarship.
The foundation will award a $2,000 scholarship to a graduating high school senior from each of the 10 communities which has a Centier location.
This includes seniors from Merrillville High School, Griffith High School, Whiting High School, Lake Central High School, George Rogers Clark High School, Lowell High School, Chesterton High School, Highland High School, Valparaiso High School, and Crown Point High School.
The scholarship will be administered in increments of $500 over a four-year period, said Schrage.
Guidance counselors and principals in each of the 10 schools will select three potential candidates based on scholastic achievement, involvement and leadership within the school and community, and general need.
The scholarship is not restricted to any college or only to customers of Centier Bank, said Schrage.
"Where many scholarships are based on solely academics, we are based on personality profile," he said.
The recommendations from the counselors and principals will be submitted to a Centier Bank selection committee, which will select one student from each school.
In June, the bank will hold a banquet for the recipients, their parents and the teachers the students said was their most influential in high school.
Schrage said that the fund will be supplemented over the years through donations and the interest earned from the account.
In the future, Schrage said the scholarship will be perpetual, growing to give away approximately $20,000.
Centier Bank will also give each of the recipients priority for summer employment.
The deadline for applications is April.
Centier will also be sponsoring other community events to coincide with the banks 100th anniversary. It was founded in 1895 as First Bank of Whiting. It was established by Henry Schrage, and has been run by that family for over four generations. It changed its name to Centier in 1992.