2023 Island Federal
Scholarship Program

Awarding $50,000 in College Scholarships

For more than six decades, Island Federal Credit Union has helped local families achieve their dreams. Recognizing that affording a college education is a priority for most parents, we offer the Island Federal Scholarship Program. Since 1992, Island has awarded more than 351 scholarships totaling $800,000 to local high school graduates.

Island Federal will award a total of $50,000 in Scholarships to eleven (11) 2023 high school seniors

  • 3- $10,000 Scholarships
  • 8- $2,500 Scholarships

All students who are graduating high school in 2023 and are pursuing advanced, full-time study after graduation are encouraged to apply for an Island Federal Scholarship.

Step 1: Eligibility

The best part about the Island Federal Scholarship program is that there is no essay to write or transcript required. Simply meet the following requirements at your time of submission, and you are entered:

  • Must be an Island Federal Member with a Cash Back Checking Account & Debit Mastercard1
  • Be a current high school senior who will be continuing their education next year

Not an Island Member yet? Open your account online today! It’s fast, easy, and free! Use code: SCHOLARSHIP when completing your application. If you are under the age of 18, please have a parent or legal guardian assist you in the application process.

If you are already a member of Island Federal, proceed to Step 2.

Step 2: How To Enter

Once you meet all the eligibility requirements, you have 2 ways you can enter: 

The deadline to submit your completed entry form is Friday, April 21, 2023. Random drawing will be held on Friday, April 28, 2023.

OFFICIAL RULES: To be eligible, student must be a high school senior (class of 2023) and plan on attending a full-time course of undergraduate study as a freshman at a university, college, community college or recognized vocational school. One entry per person. If selected, student is required to provide proof of acceptance into the school they will be attending. On Friday, April 28, 2023, eleven (11) names will be randomly drawn. Of those eleven, the first three (3) names randomly drawn will each win a $10,000 Award. $10,000 Scholarship recipients will be awarded $2,500 per year for four years and proof of attendance each year will be mandatory before award is given. The remaining eight (8) names selected will each win a $2,500 Scholarship. All winners will be notified via mail, email or phone using the contact information provided at the time of entry, and a list of recipients will be published in the Island Quarterly newsletter, on the Island website, as well as displayed in our branch offices. Acceptance of the Scholarship shall constitute winner’s consent for ISLAND FEDERAL to use winner’s name and photograph for advertising and promotional purposes without further compensation. Senior picture required from winners. 1 A debit card and checking account is required, however there is NO minimum balance needed to open or maintain the account. The account must be established in the student’s name before or at the time the entry form is submitted. Go to islandfcu.com/scholarship for more information. Island Federal Credit Union Officials, Employees, Volunteers and their immediate family members are not eligible to enter. Membership eligibility applies.