NASHUA, NH-October 3, 2005-At a luncheon on September 27, St. Mary's Bank presented a check for $50,000 to the New Hampshire Charitable Foundation for the Medallion Fund, a scholarship program for individuals seeking vocational technical training. The gift will benefit St. Mary's Bank members in the Nashua-Hudson area and is in addition to a $75,000 Medallion Fund gift on behalf of the credit union's Manchester and Londonderry members. Gateway Credit Union in Nashua and Hudson merged with St. Mary's Bank in July.

"This gift to the Medallion Fund is in recognition of the contributions that Gateway Credit Union made to the community for many years and to show our commitment to continuing that tradition," said Raymond E. Pinard, executive vice president and chief operating officer of St. Mary's Bank, who serves on the Medallion Fund Steering Committee. "St. Mary's Bank has a history of serving the under served and we look forward to bringing our credit union philosophy to the Nashua-Hudson area."

The Medallion Fund was started in 2001 by Richard Lavalliere, president of Northeastern Sheet Metal in Goffstown, and his wife, Lorraine, with an initial goal of raising $500,000 for a scholarship endowment fund for individuals interested in pursuing careers in the trades. The fund has awarded gifts totaling over $137,000 to 169 individuals. Recipients have pursued short-term training and two-year vocational/technical college degrees in automotive technology, nursing, early childhood education and building trades, among others. Funding is also available for the purchase of trade tools, English as a second language instruction for immigrants with an established trade, and a vehicle deposit for work transportation.

"These are non-traditional scholarships and grants for non-traditional students. The Medallion Fund offers them an opportunity to begin a career, start a new career or move to a different level of their career," said Pinard. "This makes a significant difference in their lives and gives them a jump start in enhancing their skills."

The Medallion Fund, which is administered by the New Hampshire Charitable Foundation, has grown to nearly $750,000, with a new endowment goal of $1 million by 2010. Individuals or organizations wishing to contribute to the Medallion Fund or start their own Medallion Fund should contact the New Hampshire Charitable Foundation at 1-800-464-6641.