Our 2023 Scholarship Program Has Begun! Send In Your Application Today!

This year, we will be awarding a total of $100,000 in scholarships to deserving high school and college students in New London and Windham counties!

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. 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.

Please highlight your relevant activities and achievements over the past year for our judges’ consideration.

Please note: It is important that you review our 2023 Program Guidelines before you complete our Scholarship Application so you understand all of our requirements and conditions. Unfortunately, applications cannot be saved and completed at a later time and all scholarship applications require the completion of an essay.

Guidelines and Application

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!

  • Bright Future Checking**: No minimum balance, ATM fee rebates, and our new “Grow My Change” savings feature that rounds up your debit card transactions to the nearest whole dollar and deposits the difference into your high-yield Bright Future Savings Account! 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.

**The Bright Future Checking Account is available for individuals between 14 and 28 years of age. Individuals age 14 through 17 require a parent/guardian as a joint account owner. At age 29, the Bright Future Checking Account will convert to Charter Oak’s GO Checking Account. See GO Checking Disclosure for account requirements. The Bright Future Checking Account will rebate all Charter Oak foreign ATM fees daily and ATM fees surcharged by other financial institutions or networks up to $9.99 each to a maximum of $10 per month will be rebated monthly if certain conditions are met. Account Conditions: To earn the rebate of ATM fees, you must have e-Statement, Online Banking, and 5 Debit Card transactions posted per month (excluding ATM transactions) and a Bright Future Savings Account. Failure to meet any one of these requirements during a calendar month will cause ATM fees surcharged by other financial institutions to not be rebated. This offer can be withdrawn at any time. Limit of one Bright Future Checking 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.


Savings Accounts


*APY = Annual Percentage Yield

Auto Loans


**APR = Annual Percentage Rate

Checking Accounts


*APY = Annual Percentage Yield


**APR = Annual Percentage Rate

Rates effective January 23, 2023