Scholarship Selection Process

Funding the Future…

That’s what the PACB Foundation is all about. The Foundation was established in 1994 to provide funds for the advancement of historical, charitable, and educational endeavors. The Scholarship Program is the cornerstone of the Foundation’s educational mission and actively invests in the futures of outstanding young men and women by awarding $1,000 annual, renewable scholarships every year.

Students applying for the scholarship must pass a rigorous evaluation process which includes a written essay as well as a personal interview conducted at the PACB office in Harrisburg. The Foundation’s Scholarship Program is open to high school seniors planning to attend an accredited college or university as a full-time student. In addition, applicants must be legal dependents of either a PACB member bank employee (working a minimum of 1,000 hours per year for the past two years) or a director of a PACB member institution.

Scholarship Selection Process

It is the Foundation’s desire to not only help students financially, but also to take an active role in preparing and identifying tomorrow’s leaders. Selection will be based primarily on a student’s academic achievement. However, a student’s extracurricular activities and community service will also be taken into consideration.

Applications must be received by the published deadline each year.

Applications must be complete and accompanied by the most recent two semesters’ grades and a copy of the applicant’s highest college entrance exam score. In addition, the applicant must complete the separate Community Involvement, Scholastic Achievement, and Essay components of the application. Only applications which have been fully completed will be processed.

The PACB Foundation Selection Committee will record and anonymously score the applications received. The PACB Foundation Board of Trustees will choose the number of candidates that qualify for the interview process. The number of interviews conducted will be based on the number of scholarships to be awarded. A number at least two (2) times the number of scholarships being awarded will be interviewed. A list of the top finalists, along with their applications, will be forwarded to the Selection Committee.

The interviews will be conducted by an independent Selection Committee. The Committee will assign each finalist a number of points not to exceed fifteen (15). These points will be added to the applicant’s previous scores to determine the winner.

Scholarships will be granted on a one (1) year renewable basis up to a maximum of four (4) years. The recipient must maintain the following grade point averages in order to renew their scholarship:
– Freshman Year: 2.5 GPA
– Sophomore Year: 2.8 GPA
– Junior Year: 3.0 GPA

These grade point averages must be maintained on a yearly basis and reported, by July 15th, directly to the PACB Foundation office by the recipient in an official document from the college or university at which the recipient is enrolled.

Applicant Requirements

An applicant for the PACB Foundation Scholarship must be a high school senior who is a dependent child of either an employee working a minimum of 1,000 hours or a director of a PACB member institution in good standing. Parental employment or board service must be for a minimum of two years as of the application deadline, but it need not be with the same member for the full, two-year period.

The applicant must be receiving a high school diploma or GED and must enroll as a full-time student as defined by the accredited college or university in which the student will attend. Applicants pursuing a curriculum that could lead to a career in community banking, including but not limited to, Business Administration, Finance, Economics, Accounting, Marketing and IT will be more heavily weighted. Enrollment at only accredited two and four-year colleges and universities will be considered.
The applicant’s official high school transcript must be included with the guidance counselor’s portion of this application. The application must include the most recent two semesters’ GPAs as well as a copy of the applicant’s highest SAT or ACT score. No application will be processed without these items.

It is the responsibility of the applicant to notify the PACB Foundation office of other financial aid that has been awarded to the applicant. The student’s total financial aid package, including the PACB Foundation Scholarship, will not exceed the total of tuition, books, fees, and room & board.

Should the recipient withdraw from the college or university, any refund from that academic year shall be refunded directly to the PACB Foundation.

Parental Requirements

The applicant must be a dependent child of a parent working at least 1,000 hours per year, for a minimum of two (2) years, for a regular member of the Pennsylvania Association of Community Bankers (PACB) as of the application deadline. The applicant may also be a dependent child of a PACB member institution’s director who meets the above guidelines. Employment or service need not be with the same regular member for the full two-year period. Stepchildren must be in the custody of, and reside with, the parent affiliated with the PACB member institution.

Eligibility will extend to children of parents who were deceased no more than two years prior to the application deadline, and who were employed or had served for a minimum of five (5) years with a regular member of PACB.

About Our Sponsor

iHELP Exhibitor
As the exclusive preferred service provider for the Independent Community Bankers of America (ICBA), iHELP® provides community banks an opportunity to better serve their current customers by helping them obtain a higher education. iHELP® also gives community banks the ability to expand their customer base by bringing in new, prime customers that are a part of the estimated $10 Billion market utilizing an insured product. Through iHELP®, local community banks can successfully compete with large financial institutions and credit unions with an insured product that is producing an average net return of 4.8%.

2018 Scholarship Materials

Click here to download the 2018 Scholarship Application.

Click here to download the 2018 Scholarship Program Folder.

Click here to download the 2018 Scholarship Program Poster.