Bank contributes to scholarship programs
M&T Bank made contributions totaling $455,000 to Opportunity Scholarship Organizations that provide scholarships to students throughout Pennsylvania, according to a news release.
The scholarship organizations provide tuition assistance to eligible students, allowing them to attend another public school outside their district or a non-public school. The contributions are made through the Opportunity Scholarship Tax Credit program, a statewide tax-credit program that provides a 90 percent tax credit in exchange for a two-year commitment of funds, the news release said.
In Northern Pennsylvania, the Central Pennsylvania Scholarship Fund received $20,000 to provide scholarships. The decisions regarding specific funding are made by M&T’s regional community banking leadership.
“At M&T Bank, we believe quality education is the key to a successful future for our children,” said Phil Johnson, president of M&T Bank’s Northern Pennsylvania Region, according to the news release. “The tax credit program provided by the Commonwealth enables us to support students and help them advance towards success in education and ultimately, in life.”
M&T is a financial holding company headquartered in Buffalo, New York. M&T’s principal banking subsidiary, M&T Bank, operates banking offices in New York, Maryland, New Jersey, Pennsylvania, Delaware, Connecticut, Virginia, West Virginia and the District of Columbia. Trust-related services are provided by M&T’s Wilmington Trust-affiliated companies and by M&T Bank.