BankNewport Awards ‘Financial Education Scholarship’ to Four Local High School Graduates

NEWPORT, R.I.  – BankNewport, one of the country’s oldest community banks whose hallmark is its dedication to the communities it serves, has awarded its $1,000 BankNewport Financial Education Scholarship to four local high school graduates as part of its financial education program to help students refine their financial skills, and understand that managing personal finances can pave the way for a bright economic future. The four winners are Mackenzie Palmer and Lilly Bestoso of William S. Rogers High School in Newport; Olivia Brennan of Portsmouth High School in Portsmouth; and Nathalie Fortier of Coventry High School in Coventry.

Each of the four students participated in this year’s financial education program and demonstrated integrity, aptitude, leadership and community outreach, volunteerism and involvement as outlined in their scholarship applications.

“At BankNewport, we take great pride in educating and assisting our next generation of community advocates and young professionals,” said Wendy Kagan, Executive Vice President, Director of Employee and Community Engagement at BankNewport. “Through our financial education program, we’re able to motivate these young adults to begin planning for the future while teaching them the necessary financial skills to assist them in the present. These four scholarship recipients have each proven to be responsible members of the community and we’ve truly relished the opportunity to work with them towards their goals.”

As a community bank, sharing financial expertise is integral to BankNewport’s mission. Whether students choose to enter the workforce or pursue formal education after high school, BankNewport seeks to empower them to be confident in their financial choices and achieve success as future employees, parents, and members of the community.

About BankNewport

Founded in 1819 and headquartered in Newport, BankNewport offers a full suite of loan and deposit products and services for families and businesses throughout Rhode Island.  With $1.7 billion in assets, BankNewport is one of the oldest community banks in the United States and, as a mutual organization, is committed to the financial success of its customers, employees and communities. BankNewport has 18 branch locations, with commercial lending offices in Cumberland and Providence. 

BankNewport business lines include OceanPoint Marine Lending, specializing in consumer marine and recreational vehicle financing programs, and OceanPoint Insurance, a Trusted Choice independent insurance agency, providing a broad range of property casualty insurance products, including employee benefits and marine related insurance products. 

Through a relationship with LPL Financial, a leader in the retail financial advice market, BankNewport is able to offer access to investment products and services with OceanPoint Investment Solutions*.

*Securities and advisory services are offered through LPL Financial (LPL), a registered investment advisor and broker-dealer (member FINRA/SIPC). Insurance products are offered through LPL or its licensed affiliates. BankNewport and OceanPoint Investment Solutions are not registered as a broker-dealer or investment advisor. Registered representatives of LPL offer products and services using OceanPoint Investment Solutions, and may also be employees of BankNewport. These products and services are being offered through LPL or its affiliates, which are separate entities from, and not affiliates of, BankNewport or OceanPoint Investment Solutions. Securities and insurance offered through LPL or its affiliates are: