Scholarships
We think it’s very important for students to fulfill their educational goals. That’s why we offer a number of different scholarship opportunities and an Education Line of Credit to ensure students and their families have the funding they need to turn a career dream into reality.
Even though this section is devoted to loans, we want to make sure that students and parents are aware of the significant investment we make in our student members each year via scholarship awards. Before applying for a loan, we encourage you to research financial aid through scholarships and grants. Here are two that are available to Bronco student members:
The John Alan Glasgow Memorial Scholarship
Offered in memory of a Class of 1999 Franklin High School student who died in a tragic car accident, the John Alan Glasgow Memorial Scholarship is available to college-bound seniors who are members in good standing of Bronco FCU. The Scholarship Committee makes its selection based on accomplishments in scholastics, school activities, community involvement, civic activities and contributions to the betterment of the communities we serve.
Applicants must have applied to an accredited college or university and the recipient must have been accepted prior to payment of the scholarship. Students who have applied for, or received, other scholarships are still eligible to apply. Applications are generally accepted January through April of each year and scholarships are awarded in May.
The John Alan Glasgow Memorial Scholarship recipient receives a $10,000 award. In addition, we award a number of Bronco Scholarships each year (ranging from $2,500 to $5,000) to deserving student members.
The Jack E. O’Connor Memorial Scholarship
Presented by the Tidewater Chapter of Credit Unions (of which Bronco is a member), the annual Jack E. O’Connor Memorial Scholarship awards a minimum of $500 to graduating seniors who are members of a chapter credit union. Applicants must be in need of financial assistance and must have made an application to a college or university. Applications are usually accepted January through April of each year and scholarships are awarded in May.
Education Line of Credit (ELOC)
For students who require additional funding on top of scholarship or grant awards, we offer an Education Line of Credit (ELOC). An ELOC affords an undergraduate and graduate student with the ability to conveniently draw funds only as they are needed, instead of taking out a large, lump sum loan.
This can be particularly beneficial and cost-effective because a borrower only pays monthly interest on the amount withdrawn. In addition, interest-only payments extend for six months after the student graduates or withdraws from school, providing them with the opportunity to find employment before having to make full loan payments (principal plus interest).
If you have questions about our Education Line of Credit, including terms and requirements, stop by and visit one of our offices, call us at 757.569.6000 (or toll-free at 1.800.667.BFCU), or email us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
Not a member yet? Give us a call today at 757.569.6000.
Buzz Club
Having money (and learning how to spend it wisely) is a passage to a new level of maturity for children. The lessons they learn now will pave the way for understanding more complex financial concepts in the future.
It’s never too early to get kids started with their financial education. Bronco’s Buzz Club makes learning about money fun and interesting. Established specifically for children from birth to their 12th birthday, Buzz Club uses stories and games to help demonstrate the benefits of saving, spending and sharing money.
Members get their own savings account that they can watch grow through regular deposits. They’ll have fun attending our club events like Kids’ Day, and they can earn points towards prizes through special Saver Programs.
Your kids can come join our “hive” by opening an account (with your help) at any Bronco office. For additional information, call us at 757.569.6000 or email us at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
Not a Bronco member yet? Give us a call tooday at 757.569.6000
The Reality Fair Program
Providing classroom instruction on financial education is a great way to help young people better prepare for the future. To reinforce those messages, Bronco is also going into local schools to present financial literacy programs like Reality Fairs.
During Reality Fairs, participating students are asked to imagine that they are 25 years old. They are then randomly assigned jobs, salaries and children, and they are given the option to choose whether they want to be married or single. The students are then directed to an area filled with a variety of booths that represent real-world situations they might encounter as adults, such as the costs associated with owning a home, child care, buying and maintaining a vehicle, utilities, insurance, etc. They could also visit “luxury item” booths where they could do things like get their hair and nails done.
Students are allowed to visit as many booths as they like and in any order, but only after they have visited a booth that teaches them about taxes and how much the government will take from their assigned salaries.
For those who start to find themselves low on “money,” they could visit the Supplemental Income booth to get a part-time job, or the SOS booth where they would receive advice on ways to save money or generate additional money by selling things they had purchased previously—like their home or car.
On the other hand, students with extra “money” could learn the benefit of giving by donating to their favorite charity.
If you would like to have an event like a Reality Fair held at your school or youth organization, or if you would like to join us and volunteer to work one of the booths at a future event, please call Melissa Boyce at 757.569.3767, or email her at This e-mail address is being protected from spambots. You need JavaScript enabled to view it .
