New York CU movement provided over $2.7 million total in college scholarships
The New York Credit Union Association’s Statewide Scholarship Program provided $21,500 in financial assistance to 30 college-bound credit union members this year. The students represent 18 New York credit unions and 10 regional chapters from throughout New York.
Nearly 1,500 students from more than 75 credit unions applied for the scholarships, which ranged from $500-$1,250.
“Our credit union has been a participant of the NYCUA Statewide Scholarship Program for the past 5 years,” said Mark Welshoff, president/CEO of O & R Utilities Employees Federal Credit Union in Monroe, New York. “It has been a great program to offer since we are a small credit union and would not be able to administer it in-house. We have been able to grow our membership and create a lot of goodwill with the program. It is turnkey, low cost, and I would highly recommend it to any size credit union.”
The program was open to New York credit union members who are high school seniors planning to enroll in a two- or four-year college. Award recipients were selected based on academic performance, honors and awards, extracurricular activities, community activities, leadership roles and an essay.
“As college costs continue to rise, families are being forced to look for alternatives to pay for higher education,” said Tanya Buechner, director of marketing at the Albany-based SEFCU. “The New York Credit Union Association’s scholarship program recognizes students who excel in the classroom, on the field, and as a leader, and students who receive these awards can focus on their studies and not how to pay tuition.”
In addition to the scholarships awarded through NYCUA’s statewide program, New York credit unions awarded more than $2.7 million in total scholarships to college-bound members last year.
New York credit unions interested in participating in the Scholarship Program for the 2020 school year should visit NYCUA’s website and register by Nov. 1, 2019.