Fredericksburg Savings Charitable Foundation was an affiliate of the Fredericksburg Savings and Loan. Under the leadership of bank president, Lawrence R. McMurtry, the foundation established the Fredericksburg Savings and Loan Scholarship in 1988. When Mr. McMurtry retired, his son-in-law, Mr. Samuel Harding, Jr. became bank president and helped to establish the Citizenship Award for Diversity Leadership in 2002. Mr. Harding's wife, Martha, is a 1985 graduate of Mary Washington. Mr. Harding retired from the bank and serves on the UMW Foundation Board of Directors.