First Financial Foundation Supports Community With Scholarships And More

The First Financial Foundation of Monmouth and Ocean Counties  exists to support the community through its charitable efforts of raising money for scholarships, local schools, and the community.

The non-profit was started in Toms River several years ago by employees of First Financial Federal Credit Union. Through its continued efforts, this organization has raised nearly $65,000 since 1991 through various fundraising events including bake sales and car washes. The Foundation team encourages the community to take advantage of its offerings.

Issa Stephan, chairman of the Foundation and CEO and president of First Financial Federal Credit Union, explained that the Foundation works to support a variety of community programs and organizations throughout Monmouth and Ocean Counties.

“100% of the profits go toward the Foundation and all administrative costs are paid for by the credit union,” Stephan said.

“It originated as a group of credit union employees in Toms River who wanted to give out scholarships,” said Nancy Culp, the Foundation’s vice chair and First Financial's assistant vice president of lending and sales.

And today, employees from the credit union’s five branches in Monmouth and Ocean counties volunteer their time toward making the Foundation a success for the communities it serves.

More of What it Does and Supports

Scholarships

• Since 1994, First Financial has supported Monmouth and Ocean communities with the Erma Dorrer Scholarship Program. Today, that program has been extended into the First Financial Foundation to assist charitable organizations of the Monmouth and Ocean County communities.
  
  
• The Erma Dorrer Scholarship program gives four local students the opportunity to be awarded $1,000 each, every year.  Applicants must be attending an accredited college or university in Monmouth or Ocean Counties, and be between the ages of 17 and 24.

Local Schools

• Last year, the Foundation funded the Classroom Cash Awards, $500 classroom grants that were given out in the fall of 2010 to four local schools in Brick, Wall, Toms River and Neptune.
• Each month, a Monmouth or Ocean County teacher is awarded with a Teacher of the Month award. The award of a $100 Visa Gift Card to each teacher is funded by the Foundation.

The Community

• Last October, the Foundation held a craft fair/flea market event in support of the Tommy Hare Foundation. 100% of the proceeds from vendor rental fees, concession sales and monetary donations went to benefit the Tommy Hare Foundation.
• All branch fundraisers such as additional community flea markets, car washes, grocery tote bag sales, gift basket raffles and bake sales all benefit the Foundation.

Employees

• Employees contribute to the Foundation on a weekly basis. When employees wear jeans on Fridays and pay $2, that goes to the Foundation.
• Anything First Financial does in terms of volunteer work benefits the Foundation.

“I’m very pleased with the success of the Foundation,” Stephan said. “We look forward to continually helping the community and encourage it to apply for what we are offering.”

Additionally, Stephan noted that the Foundation would like to expand to help other charities and organizations in the community. For more information on the Foundation and First Financial Federal Credit Union, visit www.firstfinancialfoundation.org and www.firstffcu.com.