Fort Lee-based Cross River Bank on Tuesday said it is proud to celebrate National Scholarship Month by announcing its significant 2023 contributions to various educational organizations and scholarship programs. Through its philanthropic arm, Foundation@, Cross River has donated a total of $740,000 in scholarships, ranging from youth education to university programs, across both the U.S. and Israel.
Cross River said it understands the pivotal role education plays in empowering individuals and driving economic growth. By allocating funds towards scholarships, the financial institution actively contributes to creating opportunities for deserving individuals around the globe and supports underserved communities while fostering talent in multiple sectors.
“Cross River is focused and dedicated to providing access to a fair, balanced and quality education for all,” Gilles Gade, founder and CEO of Cross River, said. “We will continue to support initiatives that equip the next generations in establishing the foundation for a better future.”
In the U.S., Cross River has made substantial contributions to institutions and organizations dedicated to education and empowerment.
In Cross River’s home state of New Jersey, donations include Rowan University’s emergency fund, Fairleigh Dickinson University and the Sinai School at Rosenbaum Yeshiva of North Jersey, which was renamed the Cross River Sinai School earlier this year. Another notable recipient is the New Jersey Institute of Technology, where the creation of the Cross River Opportunity Scholarship will go to ensuring access to education for those who could not otherwise afford it and fostering talent in the technology sector. In Teaneck, Cross River supported the Community Scholarship Fund, which aids local students in need of financial assistance.
Additionally, Cross River has shown its commitment to supporting underserved communities through its support of organizations like the Haitian American Alliance of New York. Cross River contributes to the organization’s youth scholarship program, which benefits low- to middle-income Haitian Americans from the Brooklyn, New York, area by providing financial backing for college tuition based on means and achievement.
Internationally, Cross River has established the Sophie Hodaya Trakht Scholarship Program in Israel. This program, created in memory of the daughter of a Cross River employee who suddenly and tragically passed away at a young age, supports students studying computer sciences at renowned institutions around Israel, including the Azrieli College of Engineering, Bar Ilan University, Ben Gurion University of the Negev and the Machon Lev and Machon Tal campuses at the Jerusalem College of Technology.