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Diamond Lakes Federal Credit Union is accepting scholarship applications for graduating high school seniors desiring to pursue higher education.

The two $1,000 scholarships are available to individuals who are either a member of Diamond Lakes or have an immediate family member that belongs to the credit union.

"We were inspired to begin the scholarship program because of our passion is to see our members succeed in building a solid foundation for their future," Tammy Passafiume, president/CEO at Diamond Lakes Federal Credit Union, said in a news release. "We believe that our scholarship program is a natural extension of our commitment to our members and financial education in the communities we serve."

Applicants will need to submit the following materials:

• The 2020 Diamond Lakes Federal Credit Union Scholarship Application form, available through high school guidance counselors, at local branches, or at

• Two letters of reference, a personal reference from a nonfamily member and an academic reference from a teacher or administrator, both dated after June 1, 2019.

• An official copy of their high school transcript.

• A personal essay.

Application materials should be sent to ATTN: Diamond Lakes 2020 Scholarship, 306 Ouachita Avenue, Hot Springs, Arkansas, 71901. All application materials must be postmarked on or by March 31 in order to be considered a candidate for the award.

"What's been most rewarding about the scholarship program is having the continued opportunity to 'pay it forward,'" Passafiume explains. "Our scholarship recipients and their parents are not only members but owners of their financial institution, so they have grown with us. The scholarships give us the opportunity to give back to our growing family."

Though scholarship recipients must either be a member of Diamond Lakes or have an immediate family member who belongs to the Credit Union, there is no minimum length of membership required to apply.

"If someone wants to open a savings account for $10 or a joint checking and savings account for $15 then submit a scholarship application, that is OK. We must stress, however, that opening a new account does not influence the chances of the applicant being awarded the scholarship," Passafiume said.

Winning applicants will be notified Friday, May 1. Diamond Lakes Federal Credit Union has awarded $6,000 in scholarships since 2018.

Business on 02/03/2020

Print Headline: Diamond Lakes Federal Credit Union announces applications for scholarships

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