Morell Credit Union Scholarship Program

We established a scholarship program to encourage and assist young people in furthering their education through post-secondary studies at a university or college. This scholarship is just one way that we give back to the communities we serve. Scholarships are awarded to high school seniors who are credit union members in good standing.

If you are a Grade 12 student on Prince Edward Island and plan to attend a recognized post-secondary institution, we are here for you.

DETAILS

• A total of four (4) Credit Union scholarships will be provided annually.
• Each successful student will be granted $500 each year of a four-year program for a total of $2000 towards their degree or diploma.
• Scholarships are for students who have been accepted at an accredited post-secondary institution (University or College) on a full-time basis.
• Students cannot receive more than one scholarship from the Morell Credit Union throughout their educational career.
• A Selection Committee appointed by the Board of Directors will decide on the successful applicants.
• Applicants who receive a scholarship will also be required to submit or have a digital image of themselves captured by authorized staff of Morell Credit Union for use on Morell Credit Union’s website and social media.

ELIGIBILITY REQUIREMENTS

• Applicant, parent(s), or legal guardian must be an active credit union member on Prince Edward Island.
• The applicant must be a full-time Grade 12 student during the 2024 - 2025 academic school year.
• The applicant must be planning to attend a recognized University or College for the 2025/2026 school year. Please see a list of all recognized Universities and Colleges here

EVALUATION CRITERIA

Scholarships will be awarded to individuals who embody a well-rounded character. We are looking for involvement in the community, taking initiative in leadership roles, and your overall performance as a student.  Consideration will be given to the following criteria:

Academic Accomplishments

Academic accomplishments reflect a student’s work ethic, adaptability, and responsibility. When reviewing applicants, the Committee takes a holistic approach to gauge an applicant’s academic merit. They review student transcripts, examine awards or recognition, and assess overall academic progression.  Please include your Transcripts and any other academic accomplishments in your application.

Community Involvement

Youth community involvement fosters positive development, strengthens relationships, and contributes to a more vibrant society.  Whether you help coach a sports team, volunteer at the local community centre or help organize a fundraiser, please share this with us in your Cover Letter.

Financial Need & Background Information

Financial need is relative and doesn’t simply rely on a single number like household income; instead, it considers the context around your financial situation. The Committee will assess your education costs versus your ability to fund them, and consider the following:

• Other family members who are also pursuing post-secondary education
• Personal or family medical expenses 
• If you or your family members are precarious workers or have limited employment
• Personal or family financial challenges faced over the last four years

This is only a brief list! Many more circumstances could indicate a financial need. Please share any personal circumstances with us in your Cover Letter.

APPLICATION PROCESS

All applications must include the following documentation on hand to complete the application:

• An Acceptance Letter to a recognized university or college.
• A Cover Letter highlighting your strengths and aspirations and demonstrating how the scholarship will help you achieve your educational goals.
• A Reference Letter from a previous teacher, employer, or community group/organization in which the applicant is a member/involved in.
• Your Transcript and any other relevant academic accomplishments from your high school.

Once the application is submitted, you will receive an automated notification through email that we have received it.

• The application will then be distributed to the respective credit union Selection Committee of the Board and may be subjected to additional criteria.
• You will be notified of the status of your application using the email address you provide in the application.
• Only one application per student will be accepted.
• The scholarship will be paid jointly to the recipient and the chosen educational institution and is not renewable.

The application deadline is June 6th.  

Please submit applications to 
Lynn Hunter-Murphy
Director of People and Member Engagement
Morell Credit Union
lmurphy@morell.creditu.net