Going to college is expensive and can be a financial burden for many young adults. Luckily there are many ways to lessen that burden, whether it’s receiving financial aid, loans, grant, or scholarships.

Charter Oak Federal Credit Union is dedicated to helping the community’s outstanding students, which is why we award $90,000 annually in college scholarships to 45 deserving students.

Our unique scholarship program rewards at least one high school senior from each eligible high school in New London and Windham counties with an enrollment of at least 100 students. Most high school applicants will essentially be competing against their peers, rather than competing with students throughout Eastern Connecticut. Current or prospective college students are welcome to apply too!

Every year students have questions about the program, so here are some of the most frequently asked questions with helpful answers:

When and how can I apply for a scholarship?

Charter Oak’s Scholarship program begins on Monday, January 4, 2021 and ends on Monday, March 15, 2021. The application can be found on our website at CharterOak.org under our Community Giving section. You can also follow Charter Oak’s Facebook page to get the latest information and dates about our scholarship program.

What makes me eligible for a scholarship?

To be eligible for a scholarship, you must be a primary member of Charter Oak and meet our scholarship eligibility requirements. A primary member means you are the main user of your accounts. We’re sorry but joint members or non-members aren’t eligible for a scholarship.

How do I join Charter Oak if I’m not a current member?

Joining Charter Oak is easy! You can submit an application online at CharterOak.org or call our Contact Center at 860.446.8085 and a representative will be happy to assist you with your membership questions or application.

What if I become a primary member after submitting my application?

If you become a primary member after submitting your application, you can email or call Charter Oak’s Marketing Department, and the status of your application will be changed to eligible as long as you meet the scholarship guidelines. Our email address is or you can call 860.446.3425.

What will be required?

Within the application, you will be required to answer questions about yourself and your household. All applicants will also be required to submit an essay and highlight their community and/or extracurricular activities. We realize the current COVID-19 health crisis has curtailed many of these activities along with student involvement over recent months so please highlight your relevant activities and achievements over the past year or two for our judges’ consideration.

 My school is outside of New London and Windham Counties. Can I still apply?

If your school is outside of New London and Windham counties, you can apply as long as you are a primary member with Charter Oak. Within the past five years, Charter Oak has proudly awarded over 25 scholarships to primary members outside of New London and Windham Counties.


Please note: This information is designed to offer a general understanding of common financial terms and practices and should not be considered financial advice from Charter Oak Federal Credit Union. Every individual has different financial needs and goals, which should be discussed with a financial professional.