The Achieva Foundation is now accepting applications for its scholarship program, which this year includes one scholarship for a home-educated student.
The new scholarship, established in honor of Achieva’s former CEO Gary Regoli and his wife Teresa, is a $3,500 bequest.
In addition, there are 27 $3,000 scholarships for graduating seniors, and current college or technical school students.
The 28 scholarships total $87,000, the largest scholarship amount in the program’s history.
Applications are open through March 21.
The Achieva Foundation is the philanthropic arm of Achieva Credit Union.
Achieva Foundation Executive Director Teresa Hibbard said they began giving $1,000 scholarships in 2013. She said every year the board sets the amount after she suggests amounts for approval.
“They supported the increase of the scholarship amount the last three years,” she said of going from $2,000 to $3,000 per student. “Across our footprint that is 27 students. We allot scholarships per branch based on the county.”
To apply, students need to either be a member, or have a family member, as an Achieva Credit Union member. The applicant needs to be graduating from high school or already in college or a technical school.
“You have to be in school or be going to a school,” Hibbard said.
The applicant is required to provide transcripts, two letters of recommendation from different sources and submit two essays.
“Then the biggest part of the application is the essay question. This is where we really get a chance to get to know our students,” Hibbard said. “We ask why the scholarship will make a difference for them and how it will impact them.”
She said 60% of students graduate from college with student loan debt.
“One of the key reasons we are in the community is to make sure people are financially secure,” Hibbard said, adding that providing scholarships either reduces, or eliminates debt for students when they graduate.
The second essay question is 350 words or less and has the student choosing one area that has impacted their life – education, financial literacy, health, and human services
“Last year out of 26 students that were awarded, five of the students at one point were homeless,” she said. “Many of them found their way into foster care, adopted or had a family member step into their life – resilience and remarkable change.”
The employees of Achieva Credit Union review the applications and apply a rubric to grade them before giving it back to the foundation.
Last year more than 200 applications were submitted over a six-week period.
“If they do not include the required attachment, they do become disqualified. We ended up with about 178 or so,” Hibbard said. “It’s very competitive and it’s not all about the grades. We take into consideration are they working and volunteering. If they are working, they can’t volunteer as much. It does show a young person who is committed to a strong financial future that they are working their way through college or technical school.”
She said what sets them apart from other scholarship opportunities is they tell their students once they are selected, they become an extension of their foundation and are charged with doing good.
“Once they are selected, we have an awards luncheon where they can bring two guests. We invite them to come and celebrate to receive their funding,” Hibbard said. “At the end of the luncheon, there is a charge – now you have received this, you are responsible to go out and do good in your communities – working, volunteering. I think because we take such care and treat it so personally that is what keeps our students coming back and telling us what is going on in their lives.”
She said it’s really not about the check, it’s about investing in the student’s future and community.
“We are investing in our future leaders. We are investing in workforce readiness, entrepreneurship, and economic growth,” Hibbard said. “We are privileged to be able to be part of their lives and future they are making.”
The $3,000 scholarship is awarded directly to the student, and not the institution.
Achieva Credit Union was founded in 1937 in Pinellas County by a group of teachers. Hibbard said part of their DNA is carrying on that belief in education and supporting people through their journey.
To apply for the scholarship, visit www.achievacu.com/foundation.
To reach MEGHAN BRADBURY, please email news@breezenewspapers.com