Program: Bob McFadden shared some history, the impact and future vision of the student loan/scholarship programs.

• It was established in 1923 and is one of our club’s oldest service programs operating continuously for 103 years.
• Originally created to provide interest-free loans to local students. In the early 1980’s, a $70,000 gift was given from the Estate of Judge Nathan Laphman. In the 1990’s Michael Michaels donated $10,000.
• There have been 696 loans awarded and $784,000 distributed. In addition, 100 students have been recognized for Service Above Self with $72,000 awarded to outstanding student leaders.
• The loan program is phasing out and being replaced by the scholarship program. Currently the outstanding loan balance is $177,000. The investment portfolio has $488,000. Total assets dedicated to loans/scholarships is $665,000.