Each year, Virginia Credit Union recognizes outstanding student members of all ages through its scholarship program for members who are working toward their first undergraduate degree.
Virginia Credit Union (VACU) will award scholarships for an amount up to $2,500 to 30 students enrolled in an accredited college or university for the 2019-2020 academic year. The scholarship may not exceed the cost of education billed by the school. Scholarship funds will be paid directly to the school.
Before beginning your scholarship application, please read the information below.
- Applicant must be a primary member of Virginia Credit Union (not just any credit union in Virginia) and must have joined VACU by December 1, 2018. Student must be the primary owner of a VACU account, not just a joint owner, and accounts must be in good standing. If you are unsure of your Virginia Credit Union membership status, please call (804) 323-6800 or (800) 285-6609 to verify it.
- Applicant must be a graduating high school senior or equivalent, or a college student (rising freshman, sophomore, junior, or senior) at an accredited college or university. The applicant may be in an undergraduate program or in an associate’s degree program at a community college. Graduate students are not eligible.
- Applicant must have a minimum 3.00 cumulative grade point average.
- Applicant must take at least nine (9) credit hours per semester for the 2019-2020 academic year.
- VACU employees, directors, committee members, other volunteers and their families are not eligible. Previous scholarship recipients are not eligible.
Please see our Frequently Asked Questions for additional information.
Virginia Credit Union Scholarship applicants are required to submit the following:
- A completed scholarship application.
The application should be submitted using our online form. The application includes an essay on the following topic: “Virginia Credit Union believes that financial education is an important factor in enhancing our members’ financial well-being. How have you learned to manage your money and credit responsibly, and what role has Virginia Credit Union played?” Please note any hardships or challenges you have faced, or will face, that make this scholarship particularly important to you. Essays must contain between 300 and 500 words. Do not use your name in the essay. Essays will be judged on how well the topic is addressed, as well as grammar and spelling.
- A copy of your high school or college transcript for the most recently completed semester. The transcript may be uploaded with your application or sent to:
Virginia Credit Union
P.O. Box 90010
Richmond, VA 23225-9010
It is the applicant’s responsibility to see that the online application is submitted on time. Scholarship applications will not be considered unless all required information is received before the deadline. VACU is not be responsible for lost, delayed or misdirected mail. Faxes will not be accepted.
Applicants must have a minimum cumulative grade point average (GPA) of 3.00 to be considered. Applicants will be evaluated on four equally-weighted categories:
- Community service and volunteer work
- Hours devoted to work to help with the cost of education
- Extra-curricular activities
Awarding of Scholarships
Decisions are made by a Virginia Credit Union Scholarship Selection Committee. All decisions are final. Decisions will be made by June 2019. All applicants will be notified by mail.