This past week 36 South Okanagan students received an email from Interior Savings with some very welcome news:

$1000 to help with their tuition.

In some high schools, over 10% of their graduating class will receive an award from Interior Savings.  Of the 36 recipients locally, 24 are graduating high school this year: 5 from Osoyoos Secondary, 3 from Southern Okanagan Secondary and 16 from Penticton.

The Million Dollar Bursary Program, now in its sixth year, offers up to $1 million in bursaries every year to Interior Savings’ young members.  With this week’s announcement of $767,000 in new bursaries, the program will have surpassed $3 million in awards since inception, $116,000 of that going to students from the South Okanagan.

According to Kathy Conway, CEO of Interior Savings, the bursary program is part of a commitment by the Credit Union to share profits with its members while also helping its younger members make a positive move forward with ongoing education.

“Through our Million Dollar Bursary program, we aim to help students graduate from post-secondary in a better financial position,” said Conway. “The $1,000 bursary definitely helps in this regard.”

To be eligible for the bursary, students must be between 17 to 24 years old, a member of the Credit Union and have plans to attend full time studies in a recognized degree, diploma or trade certification program.  The Credit Union has committed to awarding up to $1 million in bursaries every year until 2021. 

Any bursary money not claimed is returned to the general profit sharing pool which is awarded each year to Interior Savings members.  This spring, in addition to these bursaries, the Credit Union returned another $1.4 million in rewards and dividends to its members.

Source: ISCU (Oliver/OK Falls)