First National Bank of South Miami makes $300,000 contribution to scholarship program

FEBRUARY 8, 2019 | 

First National Bank of South Miami, the provider of award-winning services from commercial lending to trust management to a comprehensive range of personal banking services, made a $300,000 contribution to Step Up For Students, a Florida-based nonprofit, which administers scholarships to lower-income schoolchildren.

First National Bank of South Miami’s donation will fund scholarships for 45 Florida children, giving them the opportunity to attend the school that best meets their learning needs. Since partnering with Step Up For Students, First National Bank of South Miami has provided 130 scholarships.

First National Bank of South Miami announced a $300,000 contribution to Step Up For Students. Pictured (adults from left to right) are Step Up For Students Vice President of Development Anne Francis, Step Up For Students CFO Joe Pfountz, First National Bank of South Miami Chief Operation Officer Veronica Flores, and Step Up For Students Development Officer Renae Sweeney. They are joined by several students who are benefiting from the scholarship.

“We demonstrate our commitment to the community in many ways. Most notably is our team members’ work in a variety of groups and organization in the community, with approximately 2,400 community service hours in both 2018 and 2017. Our cash donations were over $400K in 2017 and more than $500K in 2018,” said Veronica B. Flores, Chief Operating Officer of First National Bank of South Miami. “We are especially proud of our donations totaling $800k over the past four years to Step UP for Students. The educational assistance they provide to students whom are often underserved, is truly commendable.”

Step Up For Students is a nonprofit organization that helps manage the income-based Florida Tax Credit Scholarship Program. The program is funded by corporations with tax-credited donations and allows parents and students to choose between a K-12 scholarship to support private school tuition and fees, or one that assists with transportation costs to out-of-county public schools.

 “We are honored to have First National Bank of South Miami as a partner in our mission to help lower-income Florida families access schools that best fit their children’s unique learning needs,” said Doug Tuthill, Step Up For Students president. “We are grateful for their generosity and their commitment to giving back to their community.”

 

For the 2018-19 school year, Step Up For Students is serving more than 98,500 students throughout Florida with tuition scholarships valued at up to $6,519 per student for kindergarten through fifth grade, $6,815 for sixth through eighth grade, and $7,111 for ninth through 12th grade. More than 1,800 private schools participate in the scholarship program statewide.

 

About First National Bank of South Miami

Since 1952, First National Bank of South Miami has distinguished itself with unrivaled experience serving the financial needs of every sector. We continue to heavily invest in bringing our clients the very latest technology to make banking easier and more convenient. Because we know our clients well, we can offer them detailed, individual assistance, along with award-winning services from commercial lending to trust management to a comprehensive range of personal banking services. First National Bank of South Miami has always been respected for its professionalism, integrity, security, and solvency. Our quality has consistently earned us top recognition and highest ratings from independent analysts. Our continued quality and active role in the community have earned us many loyal clients throughout the years.

 

About Step Up For Students 
Step Up For Students is a nonprofit organization that helps administer the income-based Florida Tax Credit Scholarship Program. Students who qualify for the national free or reduced-price lunch, or those who are homeless or in foster or out-of-home care, may qualify. The scholarship program provides tuition assistance to the private school of their parents’ choice or financial assistance to offset the transportation cost to an out-of-district public school. Since 2001, Step Up has awarded more than 680,000 scholarships.

A first-of-its-kind study on the long-term effects of the scholarship program by The Urban Institute found that students who use the scholarship four or more years are up to 43 percent more likely to go to college and up to 29 percent more likely to earn an associates degree than their peers.

Step Up also helps administer the state-funded Gardiner Scholarship for Florida students with certain special needs, plus two new scholarships, the Hope Scholarship for public school students who are bullied and the Reading Scholarship Accounts for third- through fifth-grade students enrolled in public school who struggle with reading.

For more information, visit: www.StepUpForStudents.org.

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