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MILLION DOLLAR BURSARY

2022 Eligibility Criteria & Frequently Asked Questions

Eligibility Criteria

To be eligible to receive this bursary, you must:

  • Apply by February 28, 2022
  • Be 17-24 years old at any point in 2022
  • Be a member of Interior Savings (new members welcome!)
  • Use Interior Savings as your primary banking account* (See below).
  • Keep your account in good standing (See below).
  • Live in the Thompson/Okanagan/Nicola/Prince George region.
  • Be attending fulltime studies in a trade, diploma, or degree program at a designated post-secondary institution in 2022 or 2023
  • Incur tuition costs of $1,000 or more in a single semester.
  • Be a first-time recipient of this award.
 

Qualifying & Claiming Your Bursary

FAQs

We’ll send you an email mid-May to let you know if you have qualified. Please remember, *you must continue to use your account for your everyday banking needs (completing multiple transactions per month, not including e-transfers) until you claim your award.

Didn't receive the email? Check your junk email folder or email us at milliondollarbursary@interiorsavings.com

Bursary recipients will be determined in this order:

  1. Has the applicant met all of the eligibility criteria (mandatory)
  2. If there are more than 1,000 applicants:​
  • Preference given to students graduating high school.
  • Lastly, bursaries will be awarded based on the order in which the applications were received.

Make sure you are using your account consistently for multiple transactions* and purchases with your membercard. Please refrain from making small transfers between your accounts as it does not count as ‘everyday banking’ activity.

Other great ways to meet this requirement are: deposits, CRA direct deposit for government payments, payroll direct deposit, or setting up bill payments (like rent, loan payments, cell phone, utilities etc.) to automatically come out of your account each month until your award is paid.

If you are still worried you may not be able to qualify, please contact us directly milliondollarbursary@interiorsavings.com or 1-855-220-2580.

Absence of overdrafts, delinquencies, fraud etc. Basically, don’t spend money you don’t have and, if we’ve given you a loan, please pay it back as scheduled.

Exceptions may be made if you are temporarily living outside of our region in order to attend school or travel or if you have been a long-standing, loyal member for more than 3 years.

Applications will re-open on our website in September.  You may also want to check out the other bursary programs we support.

In mid-May, 2022 we will begin accepting your proof of tuition payment receipts and proof of enrollment to verify your program meets our criteria. Awards will be paid directly into members’ accounts between September 1, 2022 and October 1, 2023. Please allow up to two weeks for processing your award after you have submitted the correct documents to milliondollarbursary@interiorsavings.com. In the meantime, please remember to keep your account active per the eligibility requirements.

Bursaries not claimed prior to October 1, 2023 will no longer be held. There are no possible exceptions after this point. Visit our website for more info on bursary awards for the following year.

In May, we’ll let you know via email if you’ve qualified and we will provide a link to upload your tuition receipt. You can also email your tuition receipt to milliondollarbursary@interiorsavings.com or drop it off at any Interior Savings branch. Click here for examples of acceptable proof of tuition.

No problem (and nice work)! We just want to see that you are serious about attending school and have paid your tuition. It doesn’t matter whether you paid it yourself or had help from a family member or other financial awards.

No problem – we get it. Email milliondollarbursary@interiorsavings.com with the contact info for the college or university you are attending and we can arrange to pay the school directly.

Our Bursary program is tied to our free MyChequing account which is available to young adults between the ages of 17-24. The intent of this bursary program is to encourage young students to pursue post-secondary and to not put it off for too long. Interior Savings also funds Life Long Learner bursaries at Okanagan College, Thompson Rivers and UBC Okanagan which are intended for mature students who have dependents (see your school’s awards office to apply). 

If you are not joint on your child’s account, we can only discuss the status of their bursary application with you if they included your contact information in their bursary application. If you wish to be added after-the-fact, please have your child contact our Member Service Centre at 1-855-220-2580 to book an appointment in branch.

We also support the Credit Union Foundation of BC bursary program. Students can receive an award every year and credit union members may be eligible to receive two awards per year. There are three application periods per year and bursaries are awarded based on financial need. Learn more at: https://cufoundation.org/student-application/


​* Interior Savings reserves the right to apply its discretion in determining whether you are eligible. The intent of this program is to reward students who use Interior Savings as their primary financial institution and help contribute to our success. Applicants who simply transfer small sums of money in and out of the account from a different financial institution may be disqualified.

Are You a Previous Bursary Recipient?

 
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​If You Qualified June 2021:

See the 2020-21 FAQ and criteria.

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If You Qualified June 2020:

See the 2019-20 FAQ and criteria.

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If You Qualified June 2019:

See the 2018-19 FAQ and criteria.

DOWNLOAD PDF >

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​Proof of Tuition Payment

Here's what we need if you have qualified.

DOWNLOAD PDF >

 

 

Let's Keep in Touch

If you have any additional questions about our Million Dollar Bursary Program or your application, you can contact your local branch, call our Member Service Centre at 1-855-220-2580, or email milliondollarbursary@interiorsavings.com