NEWPORT NEWS, Va., March 20, 2019 /PRNewswire/ -- In an effort to combat increasing college education expenses, BayPort today announces it is increasing grants for its college tuition scholarship program from $78,000 to $90,000, reflecting its more than 90 years in business.
For the past 58 years, BayPort has supported member students in funding their educational pursuits by providing high school seniors, college students and full-time working professionals the opportunity to apply for tuition assistance. Over that time, BayPort has awarded more than $965,000 in scholarships to its members.
Scholarship grants this year range from $1,000 to $6,000 and are intended to help member students ranging from seniors currently enrolled in BayPort's Student-Run Credit Union (SRCU) program, employee dependents and full-time undergraduate or graduate students.
"We view our scholarship program as another way BayPort supports the financial wellness of our members and development of our local workforce," said Stan Leicester, Interim CEO.
Eligible applicants must be a BayPort member. In addition to academic achievement, financial assistance and completed essay, applicants should demonstrate service and commitment to extracurricular activities, community, civic or related organizations.
Applications for the 2019-2020 academic year will be accepted until April 12, and scholarships will be awarded on May 16. Official rules, instructions and details can be found on the BayPort website.
With total assets of $1.6 billion, BayPort is a member-owned, full-service financial institution. Founded in 1928, today it is rated a Superior 5-Star credit union by Bauer Financial and services more than 140,000 individuals and businesses with 24 branch locations in the Virginia Peninsula and Southside communities. Visit us at www.bayportcu.org.
SOURCE BayPort Credit Union