It has been nine years since Interior Savings launched their Million Dollar Bursary and in that time they have awarded just over $4 million in bursaries, with a goal of reaching the $5 million mark by the end of 2022.
The bursary is part of the Credit Union’s Member Rewards Program, which returns profits to members in the form of patronage rewards and bursaries.
Since its inception, the program has awarded Merritt students with $96,000 including 13 bursaries last year. With an available 1,000 bursaries of $1,000 each but only 500 applications so far this year, Merritt students are encouraged to apply before the Feb. 28 deadline.
To be eligible for the bursary, you must be between 17 and 24 years old and an active member of Interior Savings. If not already a member, students have until February 28 to join the Credit Union and set up a free student account.
According to the Credit Union, it takes less than ten minutes to apply and 75% of those who apply are approved.
Unlike many other bursary and scholarship awards, the application process does not require an essay and is not based on financial need or academic achievement.
“This is one of the ways we thank our members for their business while also investing in the future leaders of our community,” said Kathy Conway, CEO of Interior Savings
“For the ninth year in a row, we’ve made a commitment to award up to $1 million in bursaries and, with our recent expansion into Prince George, we’re hopeful that this will be the year that we award the full million.”
