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Our Programs in the Schools and Continuing Education

Extra Credit Union is pleased to share two programs that we offer in the schools:

Credit Union Day—we visit our partner schools to guide students in becoming financially knowledgeable

Richard J. Spence Scholarship—awarded to five graduating seniors each year

Continuing Education Scholarship—up to five $1,000 scholarships awarded

Credit Union Day
Extra Credit Union spends a day each month visiting a partner school to encourage students to become knowledgeable consumers, while also making a regular savings deposit for their future. Each interested school sets up a regularly scheduled day per month—Credit Union Day—and our representative guides students toward making financially strong decisions.

Students enjoy solidifying their math abilities while learning practical finance and practicing responsible business skills. Throughout the year, students also can participate in Youth Week, a financial-literacy focused week with the importance of saving and budgeting.

Elementary and Middle School Programs
Young students get in the habit of saving with a youth savings account to encourage responsible financial management at an early age. Check out some of the great incentives:

  • Each student who opens an account receives a punch card with 20 spots
  • Each $2 deposit gets one punch
  • After 10 deposits, the student is entered to win a prize

High School Programs

Youth Accounts and Loans

  • Younger children learn the value of saving with a youth savings account
  • Extra Credit Union youth loans ground kids in financial basics and help those who need access to cash for items such as prom expenses, senior packages, school trips, band camps and more.

If you are interested in adding a financial literacy program and resources to your elementary, middle or high school curriculum, contact us and find out how we can help. Email our financial education team at

Richard J. Spence Scholarship
Coin for college (Woo-hoo!)—it’s never too early to start saving for college, especially with college costs increasing every year. Extra Credit Union gives students a helping hand by proudly awarding the Richard J. Spence Scholarship to five graduating high school seniors each year. The multiple scholarships include:

  • One $2,000 scholarship
  • Two $1,000 scholarships
  • Two $500 scholarships

Our scholarship recipients are determined by a committee and selected based on:

  • Academic achievement
  • Community and school involvement
  • Contributions to family or society
  • A written essay

Student awardees may apply scholarship funds to any component of their comprehensive tuition and fees. Students must be a member of Extra Credit Union and a high school senior at the time of application to apply.

Sorry we missed you! Check back next year for another chance to apply!

Congratulations to the 2023 Richard J. Spence Scholarship winners:

  • Leah Stchur—Warren Mott High School, $2,000
  • Kenneth Moreno—Warren Mott High School, $1,000
  • Kylie Portalski—Warren Woods Tower High School, $1,000
  • Evalyn Vires—Romeo High School, $500
  • Ava Hines—Berkley High School, $500
  • Kevin Adriaens—Powers Catholic High School, $500

Continuing Education Scholarship
Learning never ends. At Extra Credit Union, we believe that education empowers people to fulfill their dreams and reach their goals—so that’s why we developed the Continuing Education Scholarship.

Learning is a lifetime achievement—and we want to support your efforts! Whether you are currently a student in college, a non-traditional student heading to college for the first time, or someone entering a trade school to pursue your dream, you are eligible to apply for the Extra Credit Union Continuing Education Scholarship.*

Extra Credit Union will award up to five $1,000 Continuing Education Scholarships to members who demonstrate enthusiasm and commitment to learning and a clear path for their future. Funds will be distributed directly to the academic institution’s financial aid office. Funds can be applied to any component of the student’s tuition and fees. 


You are eligible to apply for the Continuing Education Scholarship if you are a member of Extra Credit Union with an account in good standing who is continuing your education at an accredited institution, trade school, vocational school, community college or university. Applicants must be accepted by the school and plan to be enrolled, at a minimum, as a part-time student (six credit hours); and must have graduated from high school a minimum of one year prior to the application period.

Other eligibility requirements include:

  • Acceptance letter to an accredited college, university or trade school
  • Two letters of recommendation
  • Application
  • A 250-500 word essay as defined within the application
  • Resume
  • List of community and school-related involvement

How are recipients selected?

Recipients of the Extra Credit Union Continuing Education Scholarship are selected based on several criteria, including:

  • Essay
  • Community/school involvement
  • Academic achievement (if applicable)
  • Significant contributions to family or society

The judging committee will consist of five people: two educational associates, one member of the Extra Credit Union Board of Directors, one member of Extra Credit Union’s Executive/Management Team, and the Schools and Community Relations Coordinator at Extra Credit Union.

Download the Continuing Education Scholarship application here.

Congratulations to the 2022 Continuing Education Scholarship recipients:

  • Madison CaswellUniversity of Michigan Dearborn
  • Eliza PortalskiBelmont University
  • Alyssa ZieglerOakland University
  • Eric KauschUniversity of Arkansas
  • Ryan GlantCentral Michigan University

*Direct employees of Extra Credit Union are not eligible for the Continuing Education Scholarship.

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