The Summerland Credit Union has expanded the number of bursaries it hands out each year.
Sandy Berry, a member of the Credit Union board, said this year the Credit Union will present five $1,000 bursaries to high school students graduating from Summerland Secondary School and five $1,000 adult bursaries to help students who are continuing their educational goals.
Previously, the Credit Union gave out three bursaries each year, two to high school students and one to an adult.
The Credit Union also provides funds to the Gordon Beggs Memorial Bursary and the Credit Union Foundation of B.C. Okanagan College Bursary.
Berry said the additional bursaries came about because of a need they saw in the community.
“Based on the growing number of applications, the apparent need and especially the growth in applications for adult bursaries, the board of directors decided to provide 10 bursaries,” he said. “We feel there is a real need for these bursaries.”
Bursary applications are reviewed by the board bursary committee.
The applicant must be an independent member of the Credit Union.
Criteria include school service, community service, academic standing and financial need. Applicants must also present an essay about the Credit Union and another telling about themselves and their school experiences.
“Some of the financial obligations the people are facing are quite daunting,” Berry said.
The high school bursaries are awarded in late June, at the high school graduation.
The adult bursaries are awarded at the end of the year.
The deadline for the adult bursaries is Dec. 1.
The recipients of the adult bursaries must be enrolled in a program at an accredited institution. The course of study can include university training, trades and technology or other programs.
“It’s not limited to strictly academic pursuits,” he said.
Full details about the bursaries are available on the Credit Union’s website at sdcu.com or by calling Sandy Laidman at 250-494-6052 or e-mailing slaidman@sdcu.com.