Charter Oak to Award More Than $80,000 in Scholarships to Students in Eastern CT

Waterford, CT – Charter Oak Federal Credit Union will proudly present more than 40 scholarships totaling over $80,000 to student-members in New London and Windham counties in 2016.

Student-members throughout the region are invited to apply for a college scholarship now through April 1, 2016. Grades will be taken into consideration; however, the student’s community involvement will be the deciding factor.  

This unique scholarship program will reward at least one high school senior from each eligible high school in New London and Windham counties with a $2,000 scholarship. Current college students are welcome to apply; their applications will be reviewed and scholarships will be awarded at Charter Oak’s discretion.  All scholarship recipients will be recognized during a private reception at Charter Oak’s Waterford headquarters in May. 

“Applicants are competing against qualified students from their own high school for a $2,000 scholarship, rather than competing with all eligible students throughout New London and Windham counties,” said Brian A. Orenstein, Charter Oak’s President and Chief Executive Officer. “The odds are in the applicant’s favor.”

Charter Oak first announced the expansion of its scholarship program and its plans to award $70,000 in college scholarships in January 2015. The credit union later announced that it had increased its commitment even further and awarded 40 college scholarships, totaling $80,000.

The credit union has been awarding college scholarships to local students since 2000. To date, more than $200,000 in scholarships has been awarded.  

The scholarship program rewards students who are involved in their local communities through volunteer activities and who maintain a strong grade point average. The credit union prides itself on its community involvement, and has awarded more than $1.3 million since 2009 to college-bound students, non-profits and community organizations.

For additional information, or to download a copy of the scholarship application, visit

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Charter Oak Federal Credit Union, headquartered in Waterford, Connecticut, offers a broad range of financial services – including checking, deposit, lending, insurance and investments – to individuals, businesses, non-profits and professionals in New London and Windham counties. If you live, work, worship, attend school, or volunteer in New London or Windham counties, we invite you to do business with us. For more information about what Charter Oak can offer you, please visit Federally insured by NCUA. Equal Housing Lender.