Ensign Mayo Student Guide

Since 1946, the Ensign Mayo Loan Fund has helped worthy Masonic DeMolay members achieve an education of their choice in California. In 1976 the original agreement was amended to provide loans for California Job's Daughters, Rainbow Girls and Master Masons in addition to DeMolays. In the 2000s we further amended to include Masonic appendant groups. This organization is concerned with the education, advancement, and business acumen for Masonic-oriented youth, members of Masonic Groups, and Master Masons in California. The Ensign Mayo Loan Fund Board of Trustees is the governing body for the Ensign Joseph Sherwood Mayo DeMolay Loan Fund.

LOANS

Annual loans up to $6,000 are available for Undergraduate and Vocational school students. The loans are renewable up to a maximum of five (5) loans, with a maximum loan amount of $30,000 per student, and are repayable without interest following graduation of school attendance. Upon graduation loan repayment begins three (3) months thereafter, in monthly installments, until the loan is paid in full.
If the student decides to terminate or drop out of school attendance the repayment of the loan will begin immediately.
A chart of monthly payments, depending on the loan balance, is printed on the promissory note you will receive as part of the loan process.
Loan renewals are not automatic and requires the student to submit a renewal application and a current official transcript every year.
The Ensign Mayo Board of Trustees will consider loan applications to attend out of State schools.
There are no restrictions on the field of study including vocational Trade Schools.

ELIGIBILITY REQUIREMENTS

Applicants must be a California active DeMolay, Job's Daughter, Rainbow Girl, member of an Appendant Group, or a Master Mason in good standing. The GPA must be at least 3.0 for undergraduate and 2.5 for Vocational school.

LOAN APPLICATIONS

Loan applications are found on the Ensign Mayo web site at www.ensignmayoloanfund.org or student(s) can telephone the Ensign Mayo President, Mr. W. Scott Walsh, at 925-212-4243. Submit all applications to the Ensign Mayo (EM) President with two (2) letters of recommendations, your official High School and/or college transcripts, proof of enrollment in school and a copy of your club's dues card. (Note: letters of recommendations are not required for renewal loans). If the eligibility requirements are met, a promissory note will be mailed to the student for processing. Two co-signers are required and they can be your parents and/or other responsible adult persons. The original promissory note, with all signatures, must be returned to the President as this is a legally binding document.
Applications are accepted anytime during the year.
Please mail any applications to the updated address of:
Ensign Mayo Loan Fund
51 Marigold Drive
Bellingham, WA 98229-2747

REPAYMENTS

You have promised, with the signing of each promissory note, that you or your co-signers will make regular payments as provided on your promissory note. It is necessary in every legal promissory note to provide just provisions for repayment and to provide for penalties in the event such payments are not made for any unexcused reason. Repayments not made when due place your loan(s) in default. There are penalties for default that we hope need never be invoked in your account with the Ensign Mayo Loan Fund. But they are provided for in case you fail to live up to the pledges and promises you have made and for any unexcused reason. They are as follows:
(1) The entire amount of the notes becomes immediately due and payable;
(2) The entire amount becomes subject to interest and fees from the time of inception until paid;
(3) You and your co-signers Credit Ratings and FICO scores may be negativly impacted.
We can be sympathetic toward any good reason for postponement of a payment.
It is one of your duties to notify Ensign Mayo of any address or contact changes.

FINALLY

Our Ensign Mayo Loan Fund Trustor and Founder, Mr. Frank V. Mayo, and his wife, Clara Ann, long stressed the desire that recipients of our loans become acquainted with reasonable and acceptable business principles.
They felt that you will benefit a working knowledge gained in handling a business transaction by making these educational loans and by you living up to their reasonable requirements in an orderly manner. We stand ready to help applicants and recipients upon request if we can do so.
We want you, upon completion of your repayments, to feel that you have been subject to a valuable business experience and school experience that is of value to you. As life proceeds, ever remembering that as a DeMolay, Job's Daughter, Rainbow Girl, Appendant Group member, or Master Mason you were found worthy and that you lived up to the trust imposed upon you. The importance of regularity, promptness, and communication must be stressed if you are to establish a superior credit rating and reputation in your business and personal life. You will never regret the experience you shall have gained.
Please telephone our Ensign Mayo President and Past Masonic Master, Mr. W. Scott Walsh at 925-212-4243 if you have any questions.
revised January 27, 2022
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