May 21th, 2015- 1st Financial Federal Credit Union presented two $1000 college scholarships to St. Louis area students at the 2015 Annual Meeting on Tuesday, April 28th.
“One of the best parts of our annual meeting is to get the opportunity to announce the scholarship winners and hear them read their essays,” said Carol Minges, Chief Executive Officer at 1st Financial Federal Credit Union. “It is interesting to hear about the important difference between credit unions and banks from that generation. We are honored to be able to give them a small scholarship to get them started with their education.”
The 1st Financial Right Stuff Scholarship is awarded to an attending college student and 1st Financial member between the ages of 19 and 24. In addition to presenting a recent report card and showcasing their athletic and community involvement achievements, applicants were asked to write an essay on how a credit union can impact its community.
This year the Right Stuff Scholarship was awarded to Alexandria Stuart, a current Freshman studying Occupational Therapy at Maryville University. Alexandria plans to graduate in May of 2019.
Since 1996, 1st Financial has awarded the Horizon scholarship to a student with an extraordinary academic history and evidence of a strong presence in their community. This year the Horizon Scholarship was awarded to Stacey Doggett, a senior from Wentzville Holt High School. Stacey plans to attend Truman State University in the fall with an anticipated focus in Business Management.
“I am so thankful for everything 1st Financial Federal Credit Union does for me and the community,” said Stacey Doggett. “I am delighted to be able to extend my education for the next four years at Truman State University thanks to the Horizon Scholarship offered by my credit union.”
Horizon Scholarship applicants are asked to write an essay about the differences between credit unions and banks and discuss how that difference benefits the writer. In her essay, Stacey wrote:
“Credit Unions are different from banks because they are smaller, community owned, and typically more personable and easier to work with. They care about their local community and the people who are work hard to make it a better place. There is usually less red tape and they can do more things for their members because of this. Also, since credit unions are usually non-profit, instead of taking money for themselves, they give the money back to their members in the form of lower interest rates on loans. For example, after doing some quick research, 1st Financial Federal Credit Union’s current auto loan rate is 2.49%, significantly lower than the 2.99% of US Bank. Credit Unions care about their members and offer low interest rates on loans and high interest rates on savings.”
Pictured from Right to Left-Stacey Doggett, 2015 Horizon Scholarship Winner and Carol Minges, CEO of 1st Financial Federal Credit Union.
For more information about 1st Financial Federal Credit Union and the credit union difference, please visit www.1stfinancialfcu.org
About 1st Financial Federal Credit Union
Like all credit unions, 1st Financial is a member-owned, financial cooperative. 1st Financial Federal Credit Union was chartered on September 3, 1968 as District 837 Credit Union by the International Association of Machinist members employed by McDonnell Douglas. Today, with over 30,000 members and nearly $200 million in assets, 1st Financial is a St. Louis metro area financial institution dedicated to helping members achieve their financial dreams. For over 45 years 1st Financial has provided members with a full line of dependable financial products and services which returns profits to the members in the form of lower rates on loans and higher savings yields. The cooperative nature of credit unions enables 1st Financial to provide products and services at very reasonable rates.
1st Financial Federal Credit Union serves those who live, work, worship, attend school, or regularly conduct business in St. Louis City, St. Louis County, and St. Charles County, Missouri and a wide array of companies throughout the St. Louis metropolitan area. 1st Financial is a member-owned, not-for-profit financial organization committed to providing quality services to the membership while demonstrating safe and sound business practices. Deposits are federally insured by the National Credit Union Administration (NCUA), an agency of the U.S. Government.
Not a credit union member? If you live, work, worship, attend school, or regularly conduct business in St. Louis City, St. Louis County, and St. Charles County, Missouri, you can open an account today with 1st Financial Federal Credit Union. Visit www.TheBetterWayToBank.org for more information.