2020-2021 Scholarship Program
2 Scholarships Available!
Compass Credit Union is proud to be holding its Fifth Annual Scholarship Program that will provide funds to graduating high school seniors. Beginning in the fall of the 2020 school year, applications will be available at Compass Credit Union at 485 S State Street in Sparta and 115 S Stone Rd in Fremont, Michigan. Student applicants will be chosen based on academic standing, community service and a letter of recommendation. Along with these items, students are also asked to submit an essay. Under the Program, two (2) $1,000 scholarships will be awarded.
The first $1,000 scholarship will be for a graduating senior pursuing a two or four-year college degree. The second $1,000 scholarship will be for a graduating senior pursuing an Apprenticeship or Certification in a selected field.
Program Guidelines & Priorities:
* Seeking graduating seniors with a record of volunteerism in the community in non-school sponsored activities and participation in extracurricular school activities.
- Who is eligible to apply for the scholarship?
In order to apply, you must be a senior in high school. You must also be a member of Compass Credit Union (hereafter referred to as “the Credit Union”) in good standing by February 26, 2021. If you are not a member, you may join the Credit Union by February 26, 2021, as long as you belong to one of our required fields of membership. Also, students who apply for the scholarship must have a minimum 2.5 GPA.
- Who is not eligible to apply for the scholarship?
Anyone who is not a senior in high school and members not in good standing, as defined by the Credit Union policies and procedures. Also, employees, volunteers, and the immediate family of employees and volunteers are not eligible to apply.
- If I win the award, but do not end up attending an accredited college, university, or trade school in the fall, do I still get the scholarship?
No, you must verify with us that you are enrolled in an accredited college, university, or trade school for Fall 2021 to be granted the award. Otherwise, the award will be granted to a runner-up.
- Do the scholarship application and materials have to be postmarked by March 12, 2021, or must they have arrived at the Credit Union by that date?
All materials are due at the Credit Union by March 12, 2021. If it is the last minute, please drop off your application and other required items at either Compass Credit Union location. Late applications will not be accepted.
- How much is the award, and are there limits as to how I can spend it?
The award is $1,000, and it must be used towards tuition, books, student fees, or other qualified expenses.
- What documents must be included with the scholarship application?
In order to be considered for the scholarship, we must receive all of the following from you:
- A completed scholarship application form
- A letter of recommendation
- A copy of your most recent academic transcript
- A list of extracurricular activities and honors
- An outline of your community involvement
- A brief, 1-2-page essay.
- How will the applications be judged?
First, we will verify that you are a member in good standing and that you have submitted a completed application with all required accompanying documents. We will then evaluate each application and supplemental materials for the following:
- Solid academic performance and a minimum GPA of at least 2.5
- Commitment to being an active part of one’s community
- Well-rounded interests as exhibited through extracurricular activities
- The ability to coherently and effectively answer the essay question in a thoughtful and skilled manner
- Where can I turn in my completed application and materials?
You may drop off completed applications and accompanying documents at your local Compass Credit Union Office or you may mail them to:
The Scholarship Committee Compass Credit Union PO Box 310 Sparta, MI 49345
- When will the winners be announced?
We will notify the winners just prior to our Annual Meeting during the first week of March 2021. The winners will be officially announced at the Annual Meeting on March 24, 2021.
* Scholarship funds will be paid in July and August 2021 directly to the college, university, or trade school and not to the student. It will be the student’s responsibility to submit to the CEO at that time an invoice for funds, student ID number, and college, university, or trade school information is required.
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