Centier marks birthday with scholarship fund
Item
Title
Centier marks birthday with scholarship fund
Creator
Vidette-Messenger
Date
February 9, 1995
Identifier
SN.01.747
Subject
Community, Michael Schrage, Henry Schrage, Anniversaries, 100th Anniversary, Centennial
Original Format
newspaper
Text
An anniversary is always a special time for celebration, and Centier Bank of Lake and Porter counties wants to celebrate by sharing with the youth in the area.
This year, Centier Banks celebrates its 100th anniversary, and part of the celebration is the creation of a $100,000 Schrage Family Scholarship Foundation. The award of a $2,000 scholarship will be given yearly to a graduating senior from each of 10 schools in Centier communities. Porter County schools that will benefit from this offer are Valparaiso High School and Chesterton High School.
"Our 100th anniversary is a time of celebration for us," said Michael Schrage, president and CEO of the bank, "a time to reflect on the uniqueness of being under the management of four generations of the same family.
"As Lake and Porter counties' locally owned and managed bank, this foundation, and the scholarships it provides, reaffirm our commitment to our communities."
Schrage stated that while planning the 100th anniversary, the board of directors wanted to give back to the community in a positive way. They looked into ways to join the celebration with community events.
''We decided to do some type of scholarship with a long-lasting, perpetual reminder of our family and the community," he said.
With board of director approval, the bank gave $100,000 from last year's earnings as a fund to start the foundation. "Continued funding will come either from the bank or the shareholders," he said.
Executive vice president Jim Ellsworth added that the long-term goal is for the fund to earn enough money from interest to pay the $20,000 yearly total scholarship sum.
Ellsworth suggested to the bank senior management that a scholarship fund be set up from the bank to provide a way to give back to the community. He has been active with the Dollars for Scholars program at VHS for the past several years.
"The bank has always given a substantial contribution to Dollars for Scholars," Ellsworth said. ''The more I thought about what we do here (Dollars for Scholars). . . there are others who miss out."
The criteria for winning the scholarship is two-thirds leadership and community service. "We've put as few limitations as possible," said Schrage. "The recipient must attended a four-year accredited college or university."
The concept of the scholarship is strongly based on leadership, instead of scholastic and need. "It's based on the Schrage family leadership in the community for four generations."
It is hoped the recipients of the award will choose to stay in the area after college and work in banking, but it is not necessary.
"In a selfish way," said Ellsworth, "we hope to attract bright young people to the banking industry."
In addition to the scholarship, the bank will offer employment to the recipients during the summer months'.
''We need summer employees each year to staff our employees during vacations," Schrage said.
"It's a good opportunity for the scholars to earn money for the summer," said Ellsworth, "and it will help defray their cost of college with the earnings they will make."
The students need not necessarily make all A's to receive the award.
''We want to reward the kid who's the president of the German Club, the cheerleader, the leader of the youth group at his church," said Ellsworth.
"This is the one who ended up with the 'B' average, instead of the 'A.' Those kids, in the future, will make a great contribution to leadership in the community."
The qualifications for the scholarship are as follows:
• be in the top 20 percent of the graduating class;
• be willing to sign a publicity release form.
Preference may be given to applicants who meet the above criteria, plus:
• Expected college major in - economics, finance, business administration, communications, marketing, accounting, management - or considering a career in the financial industry.
The applicant selection criteria includes:
• 30 percent Scholastic Achievement (G.P.A.; SAT/ACT score; class rank);
• 30 percent involvement and leadership activities within the school;
• 30 percent involvement and leadership within the community;
• 10 percent other scholarships granted.
In June of each year the bank will hold a banquet to honor the recipients.
"The banquet will be for the student, the parents, and we are encouraging them to bring the teacher who has had the most positive impact on them," said Ellsworth. "It's a way for the student to reward the teacher.
"The recipient will receive the $2,000 scholarship ($500 each year for a four-year program), at his or her award's banquet or graduation ceremony. A member of the Schrage family or a bank representative will present the award to the winner in each school.
Students may pick up an application for the scholarship at their school guidance counselor's office. The application's deadline is April 15.
This year, Centier Banks celebrates its 100th anniversary, and part of the celebration is the creation of a $100,000 Schrage Family Scholarship Foundation. The award of a $2,000 scholarship will be given yearly to a graduating senior from each of 10 schools in Centier communities. Porter County schools that will benefit from this offer are Valparaiso High School and Chesterton High School.
"Our 100th anniversary is a time of celebration for us," said Michael Schrage, president and CEO of the bank, "a time to reflect on the uniqueness of being under the management of four generations of the same family.
"As Lake and Porter counties' locally owned and managed bank, this foundation, and the scholarships it provides, reaffirm our commitment to our communities."
Schrage stated that while planning the 100th anniversary, the board of directors wanted to give back to the community in a positive way. They looked into ways to join the celebration with community events.
''We decided to do some type of scholarship with a long-lasting, perpetual reminder of our family and the community," he said.
With board of director approval, the bank gave $100,000 from last year's earnings as a fund to start the foundation. "Continued funding will come either from the bank or the shareholders," he said.
Executive vice president Jim Ellsworth added that the long-term goal is for the fund to earn enough money from interest to pay the $20,000 yearly total scholarship sum.
Ellsworth suggested to the bank senior management that a scholarship fund be set up from the bank to provide a way to give back to the community. He has been active with the Dollars for Scholars program at VHS for the past several years.
"The bank has always given a substantial contribution to Dollars for Scholars," Ellsworth said. ''The more I thought about what we do here (Dollars for Scholars). . . there are others who miss out."
The criteria for winning the scholarship is two-thirds leadership and community service. "We've put as few limitations as possible," said Schrage. "The recipient must attended a four-year accredited college or university."
The concept of the scholarship is strongly based on leadership, instead of scholastic and need. "It's based on the Schrage family leadership in the community for four generations."
It is hoped the recipients of the award will choose to stay in the area after college and work in banking, but it is not necessary.
"In a selfish way," said Ellsworth, "we hope to attract bright young people to the banking industry."
In addition to the scholarship, the bank will offer employment to the recipients during the summer months'.
''We need summer employees each year to staff our employees during vacations," Schrage said.
"It's a good opportunity for the scholars to earn money for the summer," said Ellsworth, "and it will help defray their cost of college with the earnings they will make."
The students need not necessarily make all A's to receive the award.
''We want to reward the kid who's the president of the German Club, the cheerleader, the leader of the youth group at his church," said Ellsworth.
"This is the one who ended up with the 'B' average, instead of the 'A.' Those kids, in the future, will make a great contribution to leadership in the community."
The qualifications for the scholarship are as follows:
• be in the top 20 percent of the graduating class;
• be willing to sign a publicity release form.
Preference may be given to applicants who meet the above criteria, plus:
• Expected college major in - economics, finance, business administration, communications, marketing, accounting, management - or considering a career in the financial industry.
The applicant selection criteria includes:
• 30 percent Scholastic Achievement (G.P.A.; SAT/ACT score; class rank);
• 30 percent involvement and leadership activities within the school;
• 30 percent involvement and leadership within the community;
• 10 percent other scholarships granted.
In June of each year the bank will hold a banquet to honor the recipients.
"The banquet will be for the student, the parents, and we are encouraging them to bring the teacher who has had the most positive impact on them," said Ellsworth. "It's a way for the student to reward the teacher.
"The recipient will receive the $2,000 scholarship ($500 each year for a four-year program), at his or her award's banquet or graduation ceremony. A member of the Schrage family or a bank representative will present the award to the winner in each school.
Students may pick up an application for the scholarship at their school guidance counselor's office. The application's deadline is April 15.