Peoples Bank of Cambridge supports education and the community it serves by donating scholarship funds to the Anoka-Ramsey Community College Cambridge Campus Foundation. Bank Vice President Clyde Bloyer made the fourth of seven $7,500 installments leading toward the bank’s long-term pledge of a $52,000 endowment scheduled to be fulfilled in 2012.
The Peoples Bank endowment interest will be spent on college scholarships for students who are single female parents and are enrolled at the Cambridge Campus with a minimum of nine credits per semester. Recipients must have a high school GPA of at least 3.0, an Anoka-Ramsey GPA of at least 2.5, and be residents of Isanti County. The title of the scholarship will be Peoples Bank of Commerce Scholarship. Depending on how the market performs, the amount of earned income will vary from year to year, so the minimum scholarship award will be $500 and the maximum will be $1,000. (Note: Endowment means the principal is not spent; only the annual earned interest/income is spent.)
|Peoples Bank Vice President, Clyde Bloyer (right), presents a check to Dennis Troff, Cambridge Campus Foundation Chair. Patrick M. Johns, Anoka-Ramsey Community College President, and Evelyn Gedde, Director of Institutional Advancement look on.|