Altoona, Pa. -- Penn State Altoona has received a commitment of $100,000 from Blair County-based Investment Savings Bank that will add to a previous gift made by the bank to support Summer Kids' College. The new commitment also will provide need-based scholarships for area youth.
Over a five-year period, the bank will add $50,000 to the existing endowment -- bringing its total endowment to $100,000 -- and $50,000 will fund scholarships.
Summer Kids’ College is an educational enrichment program that offers a structured, stimulating and interactive environment in which children of varying ages learn through hands-on activities, explore special interests in depth with nurturing instructors, and take the first steps along the exciting path of life-long learning. The program, marketed to more than 22,000 students in school districts throughout Bedford, Blair, Cambria, and Huntingdon counties, symbolizes Penn State Altoona’s and Investment Savings Bank’s commitment to provide a supportive and effective learning experience for the region's youth.
Investment Savings Bank’s original five-year commitment, announced in 2005, was the first made to a program administered by the Altoona campus' Continuing Education and Training office. Both commitments provide critical funding to fulfill the tuition assistance requests received from the parents of children who, otherwise, would not be able to attend Summer Kids’ College.
“Investment Savings Bank exists to make a measurable, meaningful difference in and around Blair County,” stated Vic Hrescak, CEO of Investment Savings Bank. “Thanks to the depositors of this institution, we are proud to make this investment in our children’s education, and in the future of our community. We are proud to support the unique contribution being made by Penn State Altoona’s Kids’ College, and especially to be the reason more kids than ever will be able to participate in it, benefit from it, and look forward to it in the years to come.”
No stranger to giving back to the community, Investment Savings Bank was recognized by the Pennsylvania Association of Community Bankers with its Overall Community Service Award, the highest honor bestowed by the statewide organization.
“Once again through an historic act of philanthropy, Investment Savings Bank is demonstrating its ongoing commitment to make a powerful difference in the lives of area youth,” said Lori J. Bechtel-Wherry, chancellor of Penn State Altoona. “This new commitment will expand the bank's philanthropic reach to even more families in our region. On behalf of all of the children and their families who will benefit from the generosity and vision of Investment Savings Bank, Penn State Altoona expresses its sincere appreciation for its support.”
Private support for Summer Kids’ College is vital because it is a self-sustaining program, said Bechtel-Wherry. The Altoona campus does not receive state funding for Summer Kids’ College. Gifts from individuals, businesses, and corporations to the program allow Penn State Altoona to accommodate annual requests for financial assistance received from families who cannot afford the full cost of tuition.
Over the last five years, noted Bechtel-Wherry, Summer Kids' College has received more than 6,000 registrations, with approximately 650 scholarships awarded during that period. These numbers reflect the desire of economically-distressed families in the region to provide supplemental educational opportunities for their children and underscore the critical need for private support to fund the tuition assistance program.
For more than 25 years, Penn State Altoona has offered programs for younger students through its Continuing Education and Training office. Summer Kids’ College has become an integral part of the summertime experience for many children and their families in the campus' service area. Through Investment Savings Bank’s generous gift, the benefits of the program now will be extended to a greater number of children anxious for the opportunity to learn and participate.