Fall River-based community bank, BankFive, and the SouthCoast Community Foundation today announced that Lylah Thibeault and Luke Coelho are the recipients of the President's Scholarship Fund. Thibeault is a Swansea resident and a senior at Diman Regional Vocational Technical High School, studying computer programming. She hopes to study at Simmons University. Coelho is a Westport resident and a senior at Westport High School. He will be attending UMass Amherst in the fall and studying Engineering.
The $1.2 million scholarship fund was established in 2022 to honor the memory of past Presidents & CEOs of BankFive. The fund provides a four-year scholarship to one or more graduating seniors from Bristol County, MA and Bristol and Newport Counties, RI, while they attend an accredited college or university. This scholarship is awarded with consideration of either academic achievement or financial need. The scholarship is renewable each year that the student is enrolled full-time and meets eligibility requirements.
“As one of the largest scholarship providers in the region, the SouthCoast Community Foundation has played a crucial role in supporting students in southeastern Massachusetts for nearly three decades,” said South Coast Community Foundation President and CEO Melanie Edwards-Tavares. “We are excited to continue our partnership with BankFive as we recognize two deserving students selected from the region’s brightest young people. We continue to be inspired by the next generation of changemakers emerging from the South Coast.”
This year, BankFive is proud to be able to award two scholarships due to the overwhelming response received. The number of applicants doubled from 2023, with over 600 applications received, which reflects the growing demand for scholarships of this kind, and the need for sustainable support for aspiring students in our communities.
BankFive and its leadership value the importance that education plays in an individual’s career.
“Congratulations, Lylah and Luke, on your remarkable achievements. BankFive takes great pride in announcing you as the well-deserved recipients of the 2024 President's Scholarships,'' said BankFive CEO Anne Tangen. “BankFive remains steadfast in its commitment to enriching the communities it serves and fostering educational pathways for its young residents and future generations. There's no better tribute to our past Presidents and CEOs, who were equally devoted to these objectives, than guaranteeing access to a promising tomorrow.”
The scholarship period is closed for this year, but interested candidates can apply next year by visiting www.southcoastcf.org/scholarships.