Credit Union Student Choice Marks 10th Anniversary by Creating Foundation and Awarding More than $40,000 in Scholarships to Partner Credit Unions
Credit Union Student Choice announced the creation of the CU Student Choice Empowerment Foundation during its 2018 Empower U conference. Structured as a 501(c)(3), the foundation will direct the credit union system’s focus and resources to reduce one of America’s most pressing financial challenges today—the growing financial burden of higher education costs.
“The Foundation has been seeded with a generous $250,000 donation from an anonymous benefactor,” said Scott Patterson, President and CEO of Student Choice. “We look forward to building on this donation to achieve our mission of empowering and energizing America’s credit union movement by lowering the financial burden of higher education for both credit union members AND employees.”
Initially, the Foundation will offer grant and scholarship programs, and over time will look to develop broader solutions and partnerships that advance the role of credit unions in addressing the higher education funding challenge.
In conjunction with the Foundation announcement and the CUSO’s 10th anniversary, the Student Choice Board of Directors authorized a special one-time $1,000 scholarship given to every credit union in attendance at Empower U — a total of more than $40,000 to help credit union members pay for college.
Credit unions receiving this special scholarship must distribute the scholarship by May 31, 2019 and submit the selected member winner’s story, a picture of the member recipient, and details about how the scholarship was awarded so that Student Choice can further highlight the efforts and impact that credit unions are making.
“After 10 years of helping credit unions enter and succeed in the student lending market, Student Choice is incredibly fortunate to be in a position to provide this special scholarship offer,” said Patterson. “These scholarships will provide real, meaningful support to members seeking a higher education and it is further proof of Student Choice’s commitment to all credit unions who are focused on deploying a comprehensive education finance solution.”
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