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Centra Bank presents $50,000 gift to Penn State Fayette

12/9/2009 —
For the second year in a row, Centra Bank has made a $50,000 gift to benefit students at Penn State Fayette, The Eberly Campus. The gift was presented to Chancellor Emmanuel I. Osagie on Dec. 9. and it will provide scholarships to undergraduate students enrolled at the campus as part of the Centra Bank Trustee Scholarship established in 2008.

Osagie says, “Scholarships are very important for many students in Fayette County who dream of a Penn State education. As the University’s local institution, we provide a campus that is only part of the equation to making that dream a reality. Financial challenges often become a stumbling block. Scholarships, however, often close the financial gap and help those students achieve their dreams. We are honored to have Centra Bank as a partner in education.”

C. Christopher Cluss, chairman of Centra Bank in Pennsylvania and president of O.C. Cluss Lumber Co., “Penn State University’s presence here in Fayette County is so important to us. The University gives our local students the opportunity to receive a nationally-recognized degree, while staying right here, close to their roots. In addition, the campus is an economic engine and tremendous resource for our entire area. Our Board and Management feel that we need to strongly support such an institution that provides so much good for southwestern Pennsylvania.”

The Trustee Matching Scholarship Program is designed to keep a Penn State education accessible to all qualified students, regardless of their financial means. The program has a unique matching component—the University matches 5 percent of the principal of each gift annually and combines these funds with income from the endowment to effectively double the financial impact of the scholarship.

Centra Bank Gift
From the left: Edward Franczyk, president and CEO of Centra Bank Fayette, is joined by Centra Bank Fayette Board of Directors member Mallard George, Chairman of the Board C. Christopher Cluss, and board member James Davis (right) to present a $50,000 gift to Penn State Fayette. Receiving the gift on behalf of the campus is Penn State Fayette Chancellor Emmanuel I. Osagie. 
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