Main Street Bank Endows Scholarship Fund at WVNCC
Rich Lucas, president of Main Street Bank, Wheeling, has announced the endowment of $25,000 for the Main Street Bank scholarship fund at West Virginia Northern Community College.
Representatives from Main
Street Bank and West Virginia Northern Community College recently met to
formalize the endowment of $25,000 for the Main Street Bank scholarship fund at
West Virginia Northern Community College. Seated are Trent Perry, assistant
manager of Main Street Bank’s Elm Grove branch, and Dr. Mary Marockie, WVNCC
Foundation board of trustees president. Standing are Linda Reinauer, teller
coordinator for Main Street Bank, and Dr. Martin J. Olshinsky, WVNCC president.
The Main Street Bank representatives have taken advantage of continuing
education classes at West Virginia Northern.
The endowment fund began with $10,000 this year and will increase with $5,000 a year over the next three years, Lucas said, and will be for students majoring in business or accounting.
“As a community bank, we understand the importance of investing in our community, and there’s no better way than investing in education,” Lucas said.
The scholarship was initiated because of the NIP (Neighborhood Investment Program) credit program from the West Virginia Development Office. The program is designed to increase charitable giving to local nonprofit organizations.
Northern is the only higher education institution in the Northern Panhandle that has had NIP credits available for the past two years, according to Emily Fisher, executive director of the West Virginia Northern Community College Foundation.
The money raised through the NIP initiative at Northern is used for scholarships based on need for students located in distressed neighborhoods, Fisher explained. Funds will be available once the endowed scholarship reaches its full potential.
Dr. Mary Marockie, president of the Foundation board, said, “This is the type of partnership with area businesses that is particularly pleasing to the Foundation. Main Street Bank is helping area students in need to have greater access to the college.”
“Scholarship support at West Virginia Northern is a key element for many students,” Dr. Martin J. Olshinsky, college president, said, adding, “Main Street Bank’s leaders are to be commended for supporting them in this manner.”
Fisher is encouraging other area businesses and individuals to consider using NIP credits to help WVNCC students. “When donors choose to take this route, it means that for every $500 donated, at least half that amount can be used by the donor as a state of West Virginia tax credit.” For further information about NIP credits, contact Fisher at 304-214-8905.