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Jul 02, 2024, 08:36 ET
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NEW YORK, July 2, 2024 /PRNewswire/ — The MCU Foundation, the charitable arm of Municipal Credit Union, announced that 16 high school seniors and recent graduates were named the winners of its 2024 scholarship competition, providing $5,000 each to assist them with their future educational expenses. The students not only excel in academics and extracurricular activities but, as members of credit unions, they wrote thoughtful essays showing their understanding of the credit union philosophy: people helping people.
“We established the MCU Foundation to improve the lives of our community and members through financial education and empowerment,” said Kyle Markland, CEO of Municipal Credit Union. “Given the ever-increasing cost of college, providing scholarships to our future heroes is a critical way to invest in our communities.”
In addition to $75,000 in scholarships provided by the MCU Foundation, Markland also personally donated $5,000 in scholarship funds for the inaugural CEO Visionary Scholarship to Miles Jones of Archbishop Molloy High School in Queens, recognizing not just his educational accomplishments, but his meaningful scholarship essay on advancing financial literacy among young people through credit unions.
“We are immensely proud of the achievements of these young individuals,” said George Chacon, CEO of the MCU Foundation. “Education is a cornerstone to creating generational wealth – one of the major focus areas of the MCU Foundation – but these bright students also showed that they appreciate why the cooperative and not-for-profit nature of a credit union helps everyone in the communities they serve. These young people understand that their future prosperity can also help their neighborhoods and all of New York City to thrive. We congratulate them for their hard work and dedication.”
The students, members of Municipal Credit Union, were chosen based on their outstanding academic and extracurricular achievements as well as their thoughtful essays. These exceptional students receiving $5,000 scholarships are:
* Omar Castillo received a $500 scholarship from the New York Credit Union Association as one of its 2024 Statewide College Scholarship Winners, and an additional $4500 from the MCU Foundation.
* Miles Jones received $500 from the MCU Foundation and $5000 in the inaugural CEO Visionary Scholarship.
The scholarships were coordinated through the New York Credit Union Association, which both offers scholarships and coordinates scholarships for its member credit unions, including MCU.
“I’ve been part of the credit union movement since my first job in high school,” said Markland. “That’s why I’m proud to celebrate and support these young people. Reading their essays focused on improving their communities through credit unions reminds me of the reason credit unions exist, and the difference we make in the communities we serve. I am excited to see what the future holds for all our scholarship winners, and I hope to support the CEO Visionary Scholarship for years to come.”
About The MCU Foundation
Established in 2023, the MCU Foundation was created by the Municipal Credit Union’s (MCU) executive leadership with the mission of helping New Yorkers build generational wealth and eliminate poverty in the Five Boroughs. It furthers this mission by increasing access to basic necessities, education and homeownership to uplift the hardworking heroes in our community. For more information about the MCU Foundation and its programs, please visit mcufoundation.nymcu.org.
About Municipal Credit Union
Municipal Credit Union is the oldest credit union in New York State and one of the oldest and largest in the country. Established in 1916 and headquartered in New York City, MCU currently has assets of more than $4.35 billion and offers a full range of financial services to its more than 600,000 members. MCU is an equal opportunity lender, and deposits are federally insured to at least $250,000 by the National Credit Union Administration (NCUA), a U.S. government agency. For more information about Municipal Credit Union, visit www.nymcu.org.
Media Contact:
David Hammarstrom
212-238-3316
[email protected]
SOURCE Municipal Credit Union
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