Scholarship Rules & Regulations

Ascentra Credit Union offers ten $1,000 scholarships to assist members planning to further their education beyond high school.

The scholarships are as follows:

Five scholarships for high school students planning to enter college
Five scholarships for members age 19 or over, considered non-traditional-aged or continuing education students

Eligibility

A) The high school scholarship is open to any high school student classified as either a junior or senior, with a projected graduation of at the completion of the following fall or spring semester.

The non-traditional scholarship will be awarded to a member age 19 years or older entering an accredited undergraduate, graduate or vocational program.

B) Entrants must have an account established in their own name and be "members in good standing" at Ascentra Credit Union.

C) Ascentra Credit Union directors, employees and their family members are ineligible to participate in the scholarship competition.

Entry Requirements

A) Entrants are required to write an essay of approximately 500 words on a topic to be announced at the beginning of each fall.

The essay must be typed or computer printed, double spaced on white 8-1/2 x 11 inch paper. It must be the original work of the entrant.

Entrants may use credit union reference materials and contact credit union officials for background information.

B) A business-style resume, typewritten or computer printed on an 8-1/2 x 11-inch piece of white paper must be submitted by each entrant. No photos should be included.

The resume should not exceed two pages in length, and at a minimum, contain the following information:

Entrant's name
Address
Phone number
Educational information (including high school attended)
Extra-curricular activities
Non-traditional entrants should submit any past college education and major or degree
Non-traditional entrants should submit any past college education, major or degree, and overall grade point average.

C) Entrants must complete and sign an official entry form.

D) All scholarship entries become the exclusive property of Ascentra Credit Union and will not be returned.

E) All entries must be postmarked no later than the designated deadline, usually the first day of March.

Administrative/Award Procedures

A) High school scholarship winners must begin studies within one year of graduation from high school or may be required to forfeit the award in the absence of extenuating circumstance.

Non-traditional scholarship winners must begin studies within one year after the award of the scholarship.

B) High school winners must be enrolled as full-time students at any vocational, trade, two-year or four-year college approved for the Guaranteed Student Loan program.

Non-traditional winners must be enrolled at a vocational, trade, two-year or four-year college approved for the Guaranteed Student Loan program, and is not required to be enrolled full-time.

C) Scholarship funds will be held by Ascentra Credit Union until written verification is received from the college or vocational school registrar where the student is enrolled. At that time, the winner's share draft will be made payable to both the winner and the college, and forwarded to the winner.

D) Funds are to be used only for tuition, room and board, books and educational supplies.

Authority of Ascentra Credit Union
A) The credit union has ultimate authority to amend any of the above rules to ensure fairness in the award of the scholarships.

B) Any questions regarding the scholarship should be addressed in writing to the address below or by emailing marketing@ascentra.org.

Judging

A) Judges will be selected by Ascentra Credit Union. Results will be tabulated by credit union staff and declared. All decisions of Ascentra Credit Union are final. Winners will be announced in the July Member News printed newsletter, website, Ascentra social media and a news release will be made available to local media.

B) Each judge will award a maximum of 60 points to the essay, a maximum of 20 points to the resume, and a maximum of 15 points to the profile/background.

Scores for the essay will be based on: