The Interior Savings Million Dollar Bursary Program, now in its 10th year, has been making 1,000 bursaries available to students each year, in the amount of $1,000. One of many investments the member-owned co-operative makes in community, underscoring its' Local Money for Local Good approach. The Bursary is part of the Credit Union’s Member Rewards Program, which returns a significant portion of its profits each year to members and the community.
With inflation last year at 6.8%, according to Statistics Canada, $1,000 can make a big difference in the wallets of postsecondary students, trying to make ends meet. Especially in BC, where this added inflationary pressure is met with some of the highest tuition rates in the country.
“The cost of living is taking a toll on many in our community,” says Brian Harris, CEO at Interior Savings. “Especially students, trying to keep up with the rising cost of tuition, rent, food and transportation. Our Million Dollar Bursary Program is not just an investment in community, but in our next generation of leaders.”
According to the Credit Union, the application process is quick and easy, with high approval rates nearing 75%. Unlike most bursaries and scholarships which require students to write lengthy essays, be top academic achievers, or meet financial criteria, Interior Savings seeks to reduce eligibility barriers and increase access. The bursary only takes about five minutes to apply for and is tied to the credit union’s free young adult account, which covers members ages 17 to 24. Non-members are also welcome to apply, after opening up a free student account before the February 28 application deadline.
Interior Savings also recognizes the need to support education at various life stages, including mature students, which it promotes through other bursaries such as Lifelong Learners.
With approximately half of the 1,000 bursaries still available, anyone with students in their lives – in the Okanagan, Thompson Nicola and Prince George region – is encouraged to help spread the word, ensuring the bursaries are put to good use in the community.
Learn more or apply today at www.milliondollarbursary.com.
About Interior Savings
Interior Savings is a member-owned, democratically controlled credit union dedicated to creating local money while helping to build vibrant communities. Through its 22 branches, 16 insurance offices, Member Service Centre, and two Commercial Service Centres, the Credit Union offers personal and commercial banking and a full range of insurance and wealth management services to more than 77,000 members across 15 BC interior communities. In the last 10 years, Interior Savings has returned $29 million to members through its Member Rewards Program and invested over $5 million in support of community programs. Learn more at interiorsavings.com, or visit Interior Savings on Facebook or Do Some Good.
For more information, or to arrange an interview, please contact:
Senior Manager, Member and Community Engagement