LATHRUP VILLAGE, Mich. – January 15, 2014 – Michigan First Credit Union, in conjunction with its young adult financial education program, Young & Free Michigan, announced today the kickoff of its annual scholarship contest. The financial institution will give away up to $85,000 in scholarships—including three $10,000 first-‐place awards—to graduating high school seniors and current college students. Over the past 10 years, Michigan First has given away more than $730,000 in scholarships to metro Detroit students. Michigan First President/CEO Michael Poulos made the announcement.
The three scholarship categories include a high school video contest, a high school essay contest and a college video contest. Applicants can create their response with a 60 second video or a 300-‐word essay. For each category, this year’s question is, “What event or person (other than parents) has made the most significant impact in your life? How has that changed you and how will you use this going forward in life?”
“As a credit union founded by Detroit teachers, supporting the education of local metro Detroit students is a mission we are deeply committed to,” Poulos said. “Each year, through our partnerships with the local schools, educators, and the Young & Free program, our scholarship program continues to grow, leaving a positive impact in the communities in which we serve, and there is no greater honor than to be able to invest in these kids’ futures.”
The top 10 applicants in each category will be selected by online voting and a panel of judges will choose the final winners. The top three winners in each category will receive a $10,000 scholarship, and runners up will receive $5,000 and $3,000 scholarships. Additionally, Michigan First will select more than 30 additional high school applicants from Wayne, Oakland and Macomb counties to receive $1,000 scholarships.
The Michigan First Foundation—a nonprofit founded in 2012 by the credit union with a focus on youth and education in metro Detroit—funds the scholarships as part of more than $150,000 in contributions to local charitable organizations and students each year.
Applications will be accepted January 15, 2014, through February 10, 2014, at YoungFreeMichigan.com. All applicants must be high school seniors or current college students, as well as members of Michigan First, but interested metro Detroit students may join the credit union when they apply for the contest. The public voting for the top videos and essays will take place between February 13 and 19, determining the top 10 finalists in each category. The winners will be announced the week of March 4.