ISU Credit Union Scholarship Application
The ISU Credit Union is offering four (4) $2,000 scholarships for the 2024-25 school year. The scholarships are eligible for annual renewal, up to four years, allowing recipients to potentially receive a maximum amount of $8,000 in scholarships over the course of their collegiate years. Applications are available to ISU Credit Union members intending to enroll or are already enrolled full-time in an undergraduate degree program at either Indiana State University or Saint Mary-of-the-Woods College. The total amount of $2,000.00 will be distributed in $1,000.00 increments each semester. The stipend will be made payable to the institution to cover tuition, books, and/or fees. Application is due by January 31, 2024.
Eligibility Requirements
1. The applicant must be an ISU Credit Union member in good standing, or the applicant's parent/legal guardian must be an ISU Credit Union member in good standing, with an account opened on or before January 31, 2024. The successful applicant must maintain membership status throughout the duration of the award. A member in good standing is defined as a member who has a minimum balance of $5.00 in his or her account, has not been delinquent on any loans, and has not caused the ISU Credit Union a loss.
2. The applicant must have a grade point average of 2.75 or above (on a 4.0 scale).
3. The applicant must demonstrate leadership skills, along with involvement in school and/or community activities.
4. The applicant must be enrolled or intend to enroll in an undergraduate degree program at either Indiana State University or Saint Mary-of-the-Woods College on a full-time basis (minimum of twelve (12) credit hours).
5. The applicant cannot be an ISU Credit Union employee or official. Immediate family members of, or anyone living in the same household with, ISU Credit Union employees or officials are also ineligible. Ineligible family members include: spouse, son, daughter, stepson, stepdaughter, sibling, or grandchildren.
Disbursements
All disbursements will be made directly to the recipient's academic institution each eligible semester in the amount of $1,000 for a total of $2,000.00 for the academic year. Stipends cannot be applied to summer courses. Each scholarship recipient must sign a release authorizing ISU Credit Union to monitor status for continuation of the award. Scholarship recipients may be asked to be an ISU Credit Union Ambassador throughout the academic school year. To qualify for full scholarship benefits, the student must maintain a good conduct standing and a 2.70 (on a 4.0 scale) cumulative GPA. Should a recipient fall below the required 2.70 GPA or drop out between semester disbursements or change status from full-time to part-time during the year, he or she would forfeit the remainder of the scholarship.