ALBUQUERQUE, N.M. (4/11/14)--The New Mexico Credit Union Education Foundation just made 125 students very happy, awarding each with $1,000 through its 2014-15 scholarship program, worth a total of $125,000.
The foundation, the charitable arm for the Credit Union Association of New Mexico, received more than 300 applications for the awards for this school year.
Applicants must live in New Mexico and meet certain requirements, including minimum grade-point average and full-time enrollment.
The scholarships are given to students attending accredited vocational or technical schools, colleges or universities in New Mexico. The program is funded by special legislation that allows credit unions to repurpose abandoned funds for educational or charitable purposes.
Since 1992, the league has handed out 1,422 scholarships, totaling nearly $1 million in scholarship dollars.