Scholarships Available for College Bound Students

In celebration of its 44th anniversary the Port Washington Federal Credit Union is extending a special offer to high school students (and recently graduated ones) who are college bound and members/customers. Students may apply for one of three $500. scholarships and use the money for books, transportation, meal plans etc. Start the process now. The deadline is July 31, 2012.

Students will need a credit union scholarship application form and their own essay stating how the scholarship would benefit their college education. Request the form from the staff at 157 Main Street, Port Washington (next to Domino's Pizza). Additionally, three references from teachers and/or guidance counselors will be needed.

Students who want a scholarship can start now by opening either Youthful or standard Savings Account. Respectively the balance requirements are  $5. or $50. Both types of accounts are interest bearing and can be opened as a Joint Account with a parents or guardian.This allows the co-account holder to add funds to the account while the student is at college. When opening a new account bring in standard forms of identification. 

In today's money marketplace almost all financial institutions offer free checking and On Line Banking. Since this credit union's balance requirement are significantly lower than other financial institutions, it benefits those who are college bound or embarking on a career.  

As part of the May 44th Anniversary, upgrades to the monitoring system were installed. Safeguarding a person's well being and their capital is an imperative to the credit union's business model, As before, the credit union stands with other Port businesses as a "safe haven" for youth.

A common question asked is, "What are your rates?" A credit union's business entity is listed as "non profit". Some may mistakenly assume it means no-profit however, consistent profits have been returned to the constituents via Savings and Loans. Rates on Savings products are frequently above the area's banking averages. 

In the future students or their families are likely incur college education debts. Loan requests are locally and individually reviewed and processed.The reply time is very brief and generally very advantageous to the prospective borrower. For over 10 years Loan and Visa Credit Card rates for $500 or more depending on credit history, have remained between 7.9 and 17.9%.

The unofficial motto of the credit union is: "Over time we will save you money. We are your community's credit union". The membership driven philosophy makes for a pleasant and professional banking environment and experience. The Port Washington Federal Credit Union, is located on middle Main Street in Port Washington. It is open to those who live, work or worship in Port Washington, Manhasset, Roslyn and Great Neck. Questions are welcomed. Visit:www.pwfcu.org or call: 516 883 3537.