Island Federal Credit Union Scholarship to award $50,000 to Class of 2014 graduates

Island Federal Credit Union will award college scholarships totaling $50,000 to 11 Class of 2014 high school graduates and will be accepting entries through April 25, 2014.

The Island Federal Credit Union Scholarship Program aims to help meet rising college costs and ease the burden on Long Island families.

Island Federal President/CEO Bret W. Sears said the scholarships serve a vital role, and reflect the credit union’s commitment to Long Island families who aspire to everything from homeownership to getting a solid college education.

“We are proud to announce that once again Island will be awarding $50,000 in scholarships to local high school seniors. We are hoping the scholarships will help make the transition to college easier and help students achieve their educational and personal goals,” Sears said.

Since 1992, Island Federal Credit Union has given away more than 250 scholarships totaling $340,000 to help fill the gap between college costs and what families can afford.

The winners of the Island FCU Scholarships are chosen through a random drawing. This year, 11 winners will be randomly selected. Three of the winners will receive $10,000 ($2,500 per year for their four years of college), while the other eight winners will receive a one-time payment of $2,500.

To be eligible, the student must be a high school senior accepted into a full-time undergraduate program at the time the entry is submitted and open an Island account that has the added benefit of one of the largest free ATM networks in the country and full array of electronic banking options. There is absolutely no cost or obligation on the student’s part. If selected, the student is required to provide proof of acceptance into the school they will be attending.

Scholarship applications are available online at islandfcu.com or at Island’s branch locations: Bellmore, Hauppauge (headquarters), Hicksville, Massapequa, Riverhead, Sayville, and Selden.