In the fall of this year, two graduating high school seniors who are members of Somerset Federal Credit Union Scholarship or their dependents will receive two $1,000 scholarships through the Credit Union’s ReachOut!
Somerset Federal Credit Union Scholarship 2023/2024 Apply Now!
In honor of former SFCU manager and Board of Directors President Oliver Perry, the first award is called the ReachOut! award and the second is called the Oliver C. Perry, Jr. Scholarship.
Winners of the Somerset Federal Credit Union Scholarship will be chosen by a newly formed committee at the credit union based on essay substance, financial need, academic merit, and community activity.
Oliver Perry, a merchant and resident of Somerset who passed away in 2009, embodied the credit union motto of “People Helping People.” Oliver was kind, considerate, and service-oriented.
Essays submitted by scholarship candidates should convey the beliefs and philosophies that support the credit union’s mission.
The student aid report (SAR), which they obtain after submitting a free application for federal student aid (FAFSA), should be submitted with the application (which is available at www.somersetfcu.com or in the credit union lobby). The credit union must receive a completed application by April 15 to be considered.
The Somerset Federal Credit Union was founded in 1936 and is a Bristol County resident-only banking cooperative with members. Owners with voting privileges are members.
Employees of the credit union founded the ReachOut! The program in 1999 included a scholarship program and a program to support nearby non-profits.
This year, the Better Values – Better Banking campaign and Massachusetts Credit Unions are supporting six (6) $1,500 scholarships that will be given to six high school graduates selected as winners from throughout the state.
And Somerset Federal Credit Union hopes one of those fortunate winners is a member of our Credit Union.
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Two $1,000 Somerset Federal Credit Union Scholarship will be awarded
The following materials must be included with the finished submissions from students. To be considered, the application needs to have all the specified materials.
- A printed version of the application.
- A record of grades from classes.
- A typewritten essay of at least 250 words outlining the profession you want to get into when you finish your studies and your motivations.
- A thorough list of extracurricular, volunteer, and community activities.
Somerset Federal Credit Union Scholarship Application materials and deadline
1. Complete the application page that is included.
2. Produce a typed essay with no more than 500 words and no more than two double-spaced pages. This essay will be read anonymously by a committee member; DO NOT INCLUDE YOUR NAME ON IT. The credit union’s idea of “people helping people” and how your dedication to your academic and professional aspirations will impact your community and your field of choice should be the main points of your essay.
3. Completed applications must be delivered in person to Somerset Federal Credit Union by May 5th of the year the scholarship is offered, or they must be mailed with a postmark by that date.
Eligibility Requirements for Participation:
- Only high school seniors who will be enrolled in an undergraduate degree program at a college or university in the 2022–2023 academic year are eligible.
- The parent or legal guardian of the applicant must be a Somerset Federal Credit Union member.
- Each applicant must complete a current scholarship application and submit it to Somerset Federal Credit Union along with the other necessary materials.
Somerset Federal Credit Union
740 County Street, Somerset, MA 02726
508-678-2851 • www.somersetfcu.com
APPLICANT INSTRUCTIONS AND GENERAL INFORMATION
1. Only Somerset Federal Credit Union members or their families are eligible. It is simple to join!
2. Scholarship applications and essays must be submitted in person to Somerset Federal Credit Union by May 5 of the award year, or postmarked by that date. Scholarships, Somerset Federal Credit Union, 740 County Street, Somerset, MA 02726. You can deliver in person at the institution during regular work hours or by mail. Applications delivered via mail should be marked “Return Receipt Requested.”
3. Candidates must be high school seniors in the year they apply.
4. Our award processing is private and confidential. Members of the awards committee are not aware of the applicants’ names for whom they are casting votes. Your “application number,” never your name or any other identifiers, is ever used to share personal or financial information about you and your family.
5. Around May 15 of the calendar year the scholarship is offered, winners will be contacted.
Before completing any part of the application, please read it completely. If you have any questions, contact Somerset Federal Credit Union at 508-678-2851.
You will help us establish your eligibility for funding allocated expressly to assist students who will attend a higher education institution and who meet the evaluation standards by giving the information requested in this application.
You should submit this application as soon as possible.
Late applications won’t be taken into consideration. Please enclose a note explaining any application questions that don’t apply to you and referencing the question numbers in the note.
If you require additional space to complete any item(s), please attach it and let us know the relevant question(s).
FAQs about Somerset Federal Credit Union Scholarship
1. What is the Somerset Federal Credit Union Scholarship?
The Somerset Federal Credit Union Scholarship is a program that awards two $1,000 scholarships to graduating high school seniors or their dependents who are members of the Somerset Federal Credit Union or whose parent/legal guardian is a member.
2. What are the criteria for selecting scholarship winners?
Scholarship winners are selected based on essay substance, financial need, academic merit, and community activity. The scholarship committee at the credit union evaluates applicants’ beliefs, philosophies, and alignment with the credit union’s mission.
3. Who was Oliver C. Perry, Jr., and how was he honored?
Oliver C. Perry, Jr. was a former SFCU manager and Board of Directors President known for his commitment to “People Helping People.” The scholarship includes two awards: the ReachOut! award and the Oliver C. Perry, Jr. Scholarship, named in his honor.
4. What is the application deadline for the Somerset Federal Credit Union Scholarship?
Applicants must submit a completed application, including required materials, by April 15th to be considered for the scholarship. The application materials and the FAFSA student aid report (SAR) should be submitted by this date.
5. What are the eligibility requirements for participation in the scholarship program?
To be eligible, high school seniors must plan to enroll in an undergraduate degree program at a college or university in the 2022–2023 academic year. The applicant’s parent or legal guardian must be a Somerset Federal Credit Union member. The scholarship application and required materials must be submitted to the credit union by the specified deadline.