Eligibility And Requirements
Our goal is to provide financial assistance for higher education for our customers and is offered through the bank's Scholarship Program.
Funding for the First Federal Scholarship Program will be provided by First Federal Savings and Loan Association of Greene County. The total dollar amount that will be granted annually is determined by First Federal Savings and Loan Association.
How the Club Works
First Federal will have a random drawing in the spring of each year to determine the recipients of the scholarships. A student is entitled to 1 entry in the drawing for each school year that an Education Club account has been in effect, beginning with a student's freshman year, with a maximum of 4 entries per student.
Example: When a student establishes an Education Club account in their freshman year and makes a minimum $50.00 per quarter or $200.00 per year deposit to the account for 4 years the student receives 4 entries. When the account is established in their junior year and a minimum $50.00 per quarter or $200.00 per year deposit is made to the account the student receives 2 entries.
Scholarships will be granted on a one (1) year renewable basis up to maximum of four (4) years.
Requirements for Eligibilty
- The applicant must reside in Greene, Fayette or Washington County.
- The applicant must provide documentation of acceptance to an accredited educational facility.
- An Education Club Savings account must be established for 1 full year prior to graduation from high school.
- Make minimum $50.00 deposit to account quarterly (or minimum $200.00 per year).
- If any withdrawals are made from account prior to the student graduating from high school, there will be automatic forfeiture from the scholarship program.
- Bank staff members and their families are not eligible.
First Federal Savings and Loan Association of Greene County understands how difficult it can be to secure funding for advanced education. The Association would like to help our customers with this very important issue.
To accomplish this, we have established the First Federal Scholarship Fund that provides scholarships to eligible customers of the Association.
Who is Eligible?
The scholarships will be available to students who will be attending, full- time, an accredited college, university, community college or trade school and who participate in First Federals' Education Club Program.
How Much Will be Granted?
First Federal may award up to (8) $1,000.00 scholarships renewable for a maximum of four years. - (4) $1,000.00 scholarships for Greene County and (4) $1,000.00 scholarships for Fayette/Washington County.
When will the Winners be Announced?
Scholarship recipients will be notified in the spring of each year.
How will the Scholarship be Granted?
A random drawing from those eligible participants in the Education Club Program. After the winners are selected, each recipient must provide written verification from the educational institution they will be attending. The scholarship check will be made payable to both the student and school and mailed directly to the student.