The total scholarships a credit union may be awarded annually is determined by the credit union’s asset size. Below is a breakdown of the standard total scholarship dollars that a credit union is eligible for each year:
- Assets below $500 million: $4,000
- Assets above $500 million: $2,000
Scholarship applicants are typically eligible to receive up to $1,000 per year in scholarship funds, which counts towards the credit union’s annual scholarship award. There may be circumstances when requests exceeding the typical annual award per applicant or credit union will be considered. All scholarship requests are subject to review by the Foundation and dependent upon funds available.
Scholarships are awarded as reimbursements. The scholarship recipient must use awarded funds for the sole purpose(s) stated on the application. Scholarships are nontransferable. To receive a scholarship reimbursement, the recipient must submit a complete Reimbursement and Impact Report, with invoices and receipts, to the Foundation within 60 days of the course / event’s conclusion date. Failure to comply with this deadline will result in automatic and total scholarship forfeiture. Please note that only itemized receipts will be reimbursed. Non-itemized receipts will not be.
Use the Express Application if you meet the following conditions:
- Your award request does not exceed $500 AND
- You are an associated credit union CEO OR
- You are an associated credit union board member
If the above conditions are not applicable to your request, please use the Scholarship Application to apply.
By submitting an application, you agree to the Foundation’s scholarship terms and conditions.