The Innovation Federal Credit Union has unveiled an exciting new initiative aimed at easing the financial burden of higher education for its members.
The institution, known for its commitment to community and innovation, has announced a series of $10,000 scholarships to be awarded twice a year, providing a significant boost to students pursuing post-secondary education.
Shawna Jardine, a representative from Innovation Federal Credit Union, highlighted the motivation behind the initiative.
“We've heard from students, and we've heard from our members that it is not easy to be going to school full-time, working to try to pay off those extra expenses that you have as a student,” she explained. “Some are also raising families or looking after family members, they really just don't have the time to be searching for scholarships, writing long essays, and finding references, all to prove that they're deserving of funding. And then, in many cases, not receiving that funding.
“So, we decided that, like many other things that we give to our members, this is one more thing we'd like to help them with.”
The credit union's approach is designed to simplify the scholarship application process. Students interested in applying for the $10,000 scholarship can fill out the application form online. Additionally, Innovation Federal Credit Union is using social media to engage with students.
To be eligible for the scholarship, applicants must be enrolled in full-time post-secondary education and provide proof of enrollment upon selection.
The existing four $1,000 no-essay scholarships offered each month will remain the same.
“We're going to continue to do both, and we do believe that $1,000 is definitely a significant help to those that are in post-secondary education, and we want to reach as many students as possible that we can with that,” Jardine elaborated.
Applicants must also be a Canadian resident 18 years or older at the time of entry or have parental/guardian consent and be an Innovation member.
Innovation Federal Credit Union believes that by offering these scholarships, they can play a crucial role in supporting their members' education aspirations.
"We wanted to make some significant difference in at least two students every year, and we wanted to, in particular, offer that up to our members just to help them out," Jardine concluded.
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