State Farm is an insurance and financial services company located in the United States. Its main form of business is the State Farm Mutual Automobile Insurance Company whose headquarters is located in Bloomington, Illinois. State Farm was founded in 1922 by a retired farmer named George J. Mecherle. He started the business as a mutual automobile insurance company that specializes in auto insurance for farmers and would be owned by its policyholders.
State Farm eventually expanded its services to not only include auto insurance, but other types of insurance such as homeowner’s, renter’s, fire, and life insurance. The company also branched out to include banking and financial services. The company now has over 18,000 agents in 343 different claims offices and produces more than $68 billion a year in revenue.
Although State Farm has grown and greatly evolved throughout its 94 years of establishment, one big thing has never changed: it’s service and dedication to people. The company wanted to build a program that would help maintain its commitment to the community and members of it by promoting safety, education, and community development. In order to achieve this goal, they created the State Farm Companies Foundation. Established in 1963 as an independent and private foundation, the State Farm Companies Foundation was originally started and funded by the State Farm Mutual Automobile Insurance Company and State Farm Life Insurance Company.
The State Farm Companies Foundation supports many various programs for its associates, including grants that support volunteerism in its employees and matching gifts to colleges and universities. It also provides support for key initiatives and scholarships in the communities where State Farm associates live and work. While the Foundation does not give the scholarships directly to interested and ambitious students, it does provide the funding to national and established scholarship programs in order to help individuals pursue their dreams of attaining higher education.
The State Farm Companies Foundation has a core mission of providing opportunities for a better future to tomorrow’s leaders and innovators. They strongly believe all children deserve a chance for higher education and financial need should not stand in the way of them achieving their goals and pursuing their dreams. The State Farm Good Neighbor Scholarship Program was established to provide financial assistance to students who wish to attend a college, vocational, or technical school but who may not have the means to do so.
The State Farm Good Neighbor Scholarship is available to high school seniors that are United State citizens or permanent residents of the United States. The interested applicant must have a cumulative grade point average of a minimum 2.5 and is someone who has demonstrated significant financial need. Applications are available each January but only the first 700 applications will be accepted and reviewed. Fifty scholarships will be available in the amounts of $5,000. Students can only be eligible if they are going to attend an accredited two-year or four-year college or university, or a vocational school. You can find out more information about this scholarship, as well as find the application, online.