The Village Bank will award $40,000 in Scholarships

 AUBURNDALE, MASSACHUSETTS, March 12, 2008 … Kenneth C. Brennan, president and CEO of The Village Bank, announced today that the Bank’s Auburndale Community Charitable Foundation, Inc. will award a total of $40,000 in college scholarships to Newton and Wayland residents who are graduating from high school this year and intending to pursue studies at an accredited college or university in the fall.

Again this year, in addition to its traditional 10 one-time $2,000 scholarship grants, the Foundation will award two scholarships totaling $10,000 each, which will be allocated upon successful completion of the first semester of each of the student’s four academic years.

To be eligible for one of the $10,000 scholarships, a student must have demonstrated active involvement in local community and/or charitable causes. The student or an immediate family member must also have been a customer of The Village Bank since at least January 1, 2007.

“The Village Bank has always had a strong commitment to the community it serves,” said Brennan. “The special $10,000 scholarships give us the opportunity to recognize local students who share that commitment.“

Community/charitable involvement and an existing Village Bank relationship are not included in the criteria for the ten $2,000 scholarships.

Each of the scholarship awards can be applied toward tuition, room and board or supplies at a college of the student’s choice. Application forms are available at Village Bank locations in Auburndale, Newtonville, Nonantum, Newton Highlands, Waban and Wayland, and online at www.village-bank.com. Completed applications must be received by the Bank no later than April 15, 2008.

Auburndale Community Charitable Foundation scholarships are funded in part by the Bank’s Annual Golf Classic. The scholarship program began a decade ago with the announcement of five $2,000 scholarships to be awarded to members of the 1998 graduating class. The Foundation’s total investment in education since the program began will total $202,000 with this year’s awards.

The Village Bank, chartered by the state in 1910, has six full-service offices in Newton and Wayland and a Village Loan Center in Auburndale. The Bank also offers online banking services at www.village-bank.com.

The Bank is a member of the Federal Deposit Insurance Corporation (FDIC) and a member of the Share Insurance Fund (SIF). All deposits are insured in full.