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
We also offer Credit Union Day in high schools to give students opportunities to access their credit union accounts, ask questions, make deposits, sign up for online services, inquire about credit, or fill out a loan application.
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, give us a call and find out how we can help. Call our School and Community Relations Coordinator, Ashley Fordyce, at (586) 276-3150.
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.
Extra Credit Union is proud to announce this year’s Richard J. Spence Scholarship winners. Normally, ECU awards five annual scholarships, however this year, with grads missing out on part of their senior year, we decided to spread a little more sunshine and positivity by awarding seven scholarships totaling $6,000.
Congratulations to the 2019-20 winners:
- Catharine Carlson, Stevenson High School
- Kiara Dunklin, Fitzgerald High School
- Brooke Hines, Berkley High School
- Luke Kaferle, Warren Woods Tower High School
- Emma LaMothe, Henry Ford II High School
- Ryan Laurain, Eisenhower High School
- Ethan Winiarski, Lakeview High School
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).
Other eligibility requirements include:
- Acceptance letter to an accredited college, university or trade school
- Two letters of recommendation
- A 250-500 word essay as defined within the application
- 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:
- Community/school involvement
- Academic achievement (if applicable)
- Significant contributions to family or society
Applicants can only receive the Continuing Education Scholarship once—no repeat applications will be accepted. 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.
Sorry we missed you! The deadline to apply for the Continuing Education Scholarship was on June 30, 2020. Please check back here next spring 2021 for your next opportunity.
*Direct employees of Extra Credit Union are not eligible for the Continuing Education Scholarship.