Scholarship Program

2021 SCHOLARSHIP PROGRAM

Charter Oak’s Scholarship Program has concluded and we were once again impressed with the many candidates who applied for our individual $2,000 scholarships by our Monday, March 15th deadline.

We will award a total of $90,000 in scholarships and will announce the 45 recipients of our annual scholarships in late spring. Thank you to all the students who participated in our 2021 Scholarship Program!

Scholarship Background: Charter Oak is proud to offer at least one $2,000 scholarship to each high school with an enrollment of 100 students or more in New London and Windham counties. We also accept applications from college students. While we do consider an applicant’s individual academic achievements, our scholarship program focuses on how applicants have improved their schools and communities through extracurricular activities, individual community outreach, and involvement in community programs and activities.

OTHER STUDENT OPTIONS

Not only can we help ease the burden of college expenses by offering our scholarship program, but we can offer you a great option to save and smart ways to borrow!

• Bright Future Savings Account: Earn 3.00% APY** on the first $2,000.00 of your balance! Now available to members between the age of 14 and 28! Learn more!

• Student Lending Options via Sallie Mae: We are partnering with Sallie Mae to offer our members their Smart Option Student Loans. Find out more today!

**(APY = Annual Percentage Yield) The Bright Future Savings Account is a “Split Rate Tiered” account. You will earn the stated APY only for the account balance within each tier. 3.00% APY is paid on balances up to $2,000.00. Balances over $2,000.00 earn 0.25% APY. The account is a variable rate account and rates can change at any time. This account may only be opened by members between the ages of 14 and 28. After reaching age of 29, account will remain open at the discretion of the account holder. APY is effective November 1, 2020. This offer can be withdrawn at any time. No minimum to open. Limit of one Bright Future Savings Account per Social Security number.

Financial Literacy

Charter Oak also gives back to the community by promoting financial education and awareness. Our two high school branches (located at Killingly High School in Dayville and Robert E. Fitch High School in Groton) employ students interested in careers in financial service, and encourage students to start saving for the future.