Bank of Cascades offers Crook Co. grants

Each year, the Bank of the Cascades team in Prineville carries out the legacy of belated Crook County residents Charles Hugh and Wilma Marie Perrin.

As former customers of the bank, the couple set up a trust fund to establish The Perrin Foundation to benefit the Crook County Community through student scholarships and community grants. The community grant funds are now available to local non-profit organizations and the bank is taking applications through October 1st.

“Bank of the Cascades is committed to serving the needs of our communities,” said David Stolhand, Vice President and Trust Manager for Bank of the Cascades. “We are proud to be involved with the Perrin Foundation and the difference that it makes through their scholarship and community grant programs.”

The Perrin Foundation was established in 2000 and over the past 14 years has awarded more than $210,000 to Crook County High School graduates and $50,000 to community organizations.

The Perrin Trust distributes 5% of the market value of the trust every year. Of that amount, 75% is directed toward one-time and renewable scholarships for Crook County high school graduates interested in studying business and computer technology at the college level. The remaining 25% is used to support 501c3 non-profit organizations that provide services to the residents of Crook County. A review and distribution committee comprised of seven active community members provides direction for the funds.

This year’s first-time scholarship recipients, who received a combined total of $16,000, included: Kelsee Martin, Karisa Merrill, and Tyler Rockwood. In addition, Kara Merrill and April Senner received renewal scholarships for the coming year.
Bank of the Cascades is currently accepting community fund applications through October 1st of this year. Grant applications are available at the Prineville Branch. Scholarship applications will be available on January 1, 2015 with a submission deadline of April 1, 2015.

If funds are not fully utilized in Crook County, the Foundation will then look to organizations and graduates in Deschutes and Jefferson Counties.

For more information, visit the Prineville Branch of Bank of the Cascades at 555 NW Third Street.

Bank of the Cascades is the principal subsidiary of Cascade Bancorp (NASDAQ: CACB). Headquartered in Bend, Oregon, Bank of the Cascades delivers personalized relationship banking, competitive financial products, and advanced technology applied for the convenience of customers. Founded in 1977, Bank of the Cascades offers full-service community banking through 40 branches in Central and Southern Oregon, Willamette Valley and Southwestern Idaho. Throughout its history, the bank has been recognized for its long-standing tradition of corporate philanthropy. Most recently, Bank of the Cascades was honored by the U.S. Small Business Association for its dedication and service to small business in Oregon and the Treasure Valley. The Bank was also named the most philanthropic small business in Oregon by Portland Business Journal (PBJ). For more information, visit www.botc.com.