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News Release

Date: September 23, 2005
Media Contact: Steve Simon (Montgomery College), 301-251-7952; Cassandra Robinson (University of Maryland), 301-405-4625

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University of Maryland Announces $2 Million Gift From Chevy Chase Bank
Gift to provide scholarships to Montgomery College transfer students and internship programs

COLLEGE PARK, Md. – The University of Maryland today announced a $2 million gift from Chevy Chase Bank that will create an endowment providing scholarships for business students and supporting internships for student leaders.  The scholarships will be available to students this fall and will be targeted toward transfers from Montgomery College.

      “This gift will help the University of Maryland realize two key goals,” said Maryland President C.D. Mote Jr. “One is to continue to improve financial assistance for students who need it. The second is to improve access to university programs for students from Montgomery County. We are very grateful to Chevy Chase Bank for its leadership.”

      “One of the primary obstacles facing our students who transfer to four-year universities is the cost of continuing their education,” said Montgomery College President Charlene R. Nunley.  “This unique partnership with Chevy Chase Bank and the University of Maryland will remove the financial barrier that might otherwise prevent deserving Montgomery College students from achieving their educational goals.”

      The scholarships will benefit students with demonstrated financial need and good academic standing. Recipients must be taking classes and making satisfactory progress toward the completion of a bachelor’s degree with Maryland’s Robert H. Smith School of Business at either the Universities at Shady Grove or in College Park.

      A quarter, or $500,000, of the bank’s gift will support the Chevy Chase Leadership Interns Program, a joint offering from the University of Maryland Career Center and the Office of Campus Programs.  The year-long program prepares students for civic leadership in the work force with a focus on personal development and understanding organizational structures of complex systems. The first group of Chevy Chase Bank interns will begin work this fall. 

      “Chevy Chase Bank was founded, and is headquartered in Montgomery County. Our gift is part of an ongoing mission to support the residents of Montgomery County – and that includes helping members of our community gain access to the best educational and career opportunities possible,” said B. Francis Saul II, chief executive officer of Chevy Chase Bank.

      Chevy Chase Bank has a long history of support and involvement with the University of Maryland, the Robert H. Smith School of Business and Montgomery College.  A previous gift of $500,000 to the Smith School in 1998 went to the creation of the Chevy Chase Bank MBA Fellowship. Chevy Chase Bank serves the University of Maryland campus community through a full-service branch located in the Stamp Student Union, and ATMs on campus in locations such as the Comcast Center. Chevy Chase Bank is also a sponsor of the University of Maryland Athletics Program.  In addition, Montgomery College and Chevy Chase Bank have partnered over the past year on a program that has placed nearly 100 students in jobs with the company, which includes the benefit of tuition reimbursement for their Montgomery College education.


About the University of Maryland

From its pre-Civil War roots as the state’s first agricultural college and one of America’s original land grant institutions, today the University of Maryland is a public research university of national stature. Ranked No. 18 by U.S. News & World Report, it also has 32 academic programs in the Top 10 and 79 in the Top 25. The faculty includes a Nobel Laureate in physics, six Pulitzer Prize winners and scores of Fulbright scholars. This past fiscal year, sponsored research and outreach totaled nearly $330 million. The university is also recognized for its diversity, with one-third of the student population students of color. For more information about the University of Maryland visit


About Chevy Chase Bank

Chevy Chase Bank is the largest locally owned financial institution in the greater Washington, D.C., market with $13 million in assets and over $9 billion in deposits. The bank, which is headquartered in Bethesda, Maryland, operates more than 240 branches and a network of more than 900 ATMs throughout the metropolitan Washington area. Chevy Chase Bank offers a full array of banking products and services designed to meet the needs of consumers and businesses in the marketplace. These include checking, savings, money market, and CD accounts, the Chevy Chase Check Card and ATM Card, and a variety of consumer and business lending products. Plus, investment services are provided through the bank’s subsidiaries, Chevy Chase Financial Services and Chevy Chase Trust Company. For more information about Chevy Chase Bank, please visit


About Montgomery College

Montgomery College is a public, open admissions community college in Montgomery County, Maryland, with campuses at Germantown, Rockville, and Takoma Park/Silver Spring.  The college serves more than 55,000 students a year, through both credit and noncredit programs, in more than 100 areas of study.  Its population includes students from approximately 175 nations. With more than 32,000 students annually in credit programs, Montgomery College’s undergraduate student body is second only to the University of Maryland, among colleges in Maryland.  Each year, approximately 1,500 Montgomery College students transfer to the University of Maryland.  For more information about Montgomery College, visit


About the Universities at Shady Grove

USG is a regional center of the University System of Maryland, providing quality higher education to meet the needs of a growing, diverse community and marketplace.  Seven USM-degree-granting institutions collaborate to offer more than 30 undergraduate and graduate degree programs to an enrollment of more than 2,000 students at one convenient location.  The University of Maryland, College Park is the lead campus at Shady Grove, responsible for administering overall operations and services.  Its bachelor’s degree offerings at Shady Grove include business, life sciences, criminology and criminal justice, and communication.  For more information about undergraduate and graduate degrees offered at the Universities at Shady Grove visit



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