First Commonwealth Federal Credit Union’s Scholarship Program helps selected members with the increasing costs of higher education. Five scholarships will be awarded per year. The winners will receive $1,000, which will be paid after enrollment verification*. Applications will be accepted from December 1, 2016 to January 31, 2017. Winners will be notified in March and announced at our Annual Meeting.
Any graduating high school senior planning to attend a two- or four-year college or trade school full time and is a member of First Commonwealth Federal Credit Union is eligible to apply for a scholarship. (Credit Union employees, board members, and their immediate family members are ineligible.)
This year, applications will be accepted from December 1, 2016 to January 31, 2017.
Applications received after January 31, 2017 will not be considered for a scholarship.
Please copy and paste your 500-word maximum essay in the online application form. This form will appear and be active on our site from December 1, 2016 to January 31, 2017. The essay should reflect that credit unions were founded on the philosophy of “People Helping People.” With that in mind, how have you made a difference in your community throughout your high school years?
Letter of Recommendation
Please submit a letter of recommendation to be written by the teacher, leader, or supervisor of the organization for whom you have performed community service or volunteer activities. Letters of Recommendation can be emailed to firstname.lastname@example.org or mailed to:
First Commonwealth Federal Credit Union
PO Box 20450
Lehigh Valley, PA 18002-0450
Letters of Recommendation will be accepted from December 1, 2016 to January 31, 2017. Any letters received after January 31, 2017 will not be accepted.
*Enrollment verification includes a copy of your tuition invoice/bill or class schedule.
First Commonwealth locally underwrites this TV show on PBS-WLVT 39, which was created and produced by the Credit Union National Association (CUNA). Biz Kid$ teaches kids how to make and manage money by introducing concepts of financial literacy and entrepreneurship.
Sunday mornings at 10 am on PBS-WLVT 39.
The Biz Kid$ website is a great website and includes many financial resources.
Financial Reality Fair
Financial Reality Fair For Students
First Commonwealth is a member of the Lehigh Valley Chapter of Credit Unions. Annually, our chapter helps hundreds of Lehigh Valley high school students get a "reality check."
The Reality Fair allows students to experience how challenging it is to live within a monthly budget. They are given a salary according to their career choice and fill out a budget sheet, which requires them to pay for basics such as housing, utilities including cell phone and cable, transportation, clothing and food. Additional expenditures can include entertainment, travel and pet ownership. There are financial counselors who help the students assess their financial budget. This experience helps the students make better choices that enable them to live within their budget. Check out the video below for highlights from our Reality Fair.
Student Budgeting Workshop
Student Budgeting Workshop
Every spring we offer multiple dates and locations for this workshop.
High school students (ages 15-18) are encouraged to participate. This is an interactive workshop called Mad City Money, where teens experience real-life financial situations.
Each student will receive an "about me" sheet that contains an occupation and salary, student loan debt owed, credit card debt owed and cost of medical insurance. Some participants will have a spouse, and some will be single; all will be parents.
Students build a monthly budget based on their income. They select housing, transportation, food, day care and other needs. Just as in real life, students have unexpected windfalls and unplanned expenses.