Limestone FCU Launches Financial Literacy Scholarship for First-Generation College Students
Limestone Federal Credit Union and Lake Superior State University (LSSU) have introduced a new model for supporting first-generation college students by combining financial education with direct scholarship funding. In partnership with the Federal Home Loan Bank of Indianapolis, the organizations launched the Money Masters Scholarship Program, which awards $1,000 scholarships to participating students while helping them build foundational financial skills.
Supporting Students Through Education and Financial Relief
First-generation college students often face financial and academic challenges. The Money Masters Scholarship Program is designed to ease that burden by offering both monetary support and guided financial education.
“This initiative is all about empowerment,” said Jennifer C. Watson, CEO of Limestone FCU. “We’re giving students not only the tools to make smart financial decisions but also direct financial support to help them move forward with confidence.”
Students who complete the program receive a $1,000 scholarship deposited directly into their Limestone FCU account and gain confidence in managing personal finances.
Financial Skills for Life
The core of the program is Adulting 101, a four-part workshop series that covers budgeting, saving and responsible spending. The sessions are interactive and tailored for students who may be engaging with financial institutions for the first time. Participants also attend a Career Pathways and Networking Event that introduces them to professional connections and career planning resources.
The program is hosted at The Hub @ LSSU, Limestone FCU’s on-campus branch. This physical presence helps provide accessible, personalized guidance and fosters long-term relationships between students and the credit union.
A Model for Credit Union Impact
According to the Association for Financial Counseling and Planning Education, many first-generation students start college with lower financial literacy than their peers. Programs like Money Masters address that gap by aligning financial education with tangible benefits.
As credit unions explore ways to serve younger generations, the Money Masters Scholarship Program offers a replicable model — pair financial support with practical education, meet students where they are and build financial literacy as a foundation for long-term well-being.
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