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Selfreliance Scholarships

Selfreliance Federal Credit Union (FCU) takes great pride in helping our members strengthen their economic standing with our beneficial services. Recognizing that a good education is vital to being successful in life and that tuition costs are continuously rising, Selfreliance FCU is excited to announce a scholarship program to empower our young members to pursue their career and educational goals.

Scholarship Awards

Selfreliance will award up to fifteen (15) individuals with $1,000 scholarships. Up to nine (9) scholarship recipients will be chosen from our service area in Illinois, and three (3) each from our Michigan and New Jersey service areas. Of the scholarships awarded per service area, the majority will be essay based while one (1) will be video-based and one (1) will be photograph-based.

Scholarships will be awarded based on academic achievements, community involvement, school, work-related and/or other extracurricular activities and on an essay answer, video or photographic essay. The essay entries will be judged upon content, originality, grammar, punctuation and spelling. The video and photographic essay entries will be judged upon quality, originality, creativity and overall impact.

The essay topic – How would you attract young individuals (under the age of 24) to become members of Selfreliance FCU?

The video topic – Create a 120-second advertisement targeted at young individuals (under the age of 24) to become members of Selfreliance FCU.

The photographic essay topic – Submit a photo essay that depicts how Selfreliance FCU fosters the ideals of cooperation, promotes ethnic strength and provides long-term stability to our communities. Applicant may apply in one category only.

The list of scholarship recipients will be e-mailed to all applicants on or about June 1, 2020. Scholarship recipients will also be announced on Selfreliance website: www.selfreliance.com/scholarships.

Scholarship awards will be deposited directly to the recipient’s credit union account upon receipt of proof of enrollment to an accredited college, university or tech/trade school for the 2020/2021 academic year. Alternatively, scholarship awards may be sent directly to the college, university, tech or trade school, in which event proof of enrollment is not required.

Scholarship Rules

  1. Applicant must be a U.S. citizen or U.S. resident alien.
  2. Applicant must be an owner, joint owner or custodian account beneficiary on an account at Selfreliance FCU for a minimum of eighteen (18) months as of the application deadline date (below) and in good standing*. At the time of awarding, the applicant must be the primary member on an account at Selfreliance FCU.
  3. Applicant must be either
    1. A graduating high school senior at the time of application and entering his/her freshman year at an accredited college, university or tech/trade school on a full-time basis for the entire 2020/2021 academic year.
    2. A current college student at the time of application and entering his/her succeeding year at an accredited college, university or tech/trade school on a full-time basis for the entire 2020/2021 academic year.
  4. Applicant is eligible to be awarded only one (1) scholarship per academic year.
  5. Entry material consists of a typed, fully-completed, signed scholarship application. If any portion of the application is incomplete or if any required documents are not included, the application may be rejected.
  6. Entry material will be reviewed by a Selfreliance Scholarship Committee. Applicant agrees to accept their decision as final. If the number of eligible applicants is insufficient, as determined in the sole discretion of the Selfreliance Scholarship Committee, all scholarship awards may not be offered. In the event, there are no entries in the video and/or photograph-based categories, the Selfreliance Scholarship Committee may choose to increase the number of essay-based scholarships from nine (9) up to a maximum of fifteen.
  7. All entry material will be accepted from April 1, 2020. All entry material must be received by 5 P.M. Central Standard Time on May 1, 2020 and submitted by e-mail to students@selfreliance.com (email submissions must be acknowledged via return email to be valid), or mailed to the Selfreliance FCU Scholarship Committee at 2332 W. Chicago Avenue, Chicago, IL 60622. Entry material that is hand-delivered or forwarded via facsimile to the Selfreliance main office or the branches will not be considered.
  8. Scholarship recipients will be asked to submit a photograph of themselves for publication in public media.
  9. By submitting an application, student agrees to have his / her likeness and name used in Selfreliance promotional efforts.
  10. All essays, videos and photographs will become the property of Selfreliance FCU.
  11. Selfreliance employees, board members, volunteers and members of their families are not eligible for this scholarship program.

*A member in good standing is defined as a member not having a dormant or inactive account status, a negative share account balance and/or a delinquency on a Selfreliance FCU loan, mortgage or credit card.

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