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LAFCU Offers $10K in Grants for Debt Repayment, Financial Assistance

Michigan Business Network
May 21, 2024 2:00 PM


Michigan credit union to award four individuals with $2,500 each as part of essay contest; applications due May 31

LANSING, Mich. — Many Americans feel the squeeze on their wallets amid the ongoing inflation and high cost of living. If you're grappling with debt, overdue bills, or falling behind on payments, LAFCU has your back. 

The Michigan credit union has created the Pathway to Financial Transformation Essay Contest to award four individuals with $2,500 grants totaling up to $10,000 and help alleviate financial burden and subsequent stress by aiding in debt repayment and improving financial stability. 

Interested? Submit a one-page, 500-word essay online or by mail by May 31 that addresses the following questions: 

  • What choice(s) have you made in the past that has influenced your financial decisions?
  • What financial transformations have you achieved in the past 12 months?
  • How will this help you transform your future financial goal(s)?

 "LAFCU understands the diversity of financial journeys, acknowledging the highs, lows, and unique goals of individuals," explained Shelia Scott, LAFCU community financial education and business development officer. "That's why we offer educational resources like the 8-month, comprehensive Pathway to Financial Transformation course, which evaluates financial behaviors and implements actionable changes for a brighter future. Additionally, initiatives such as the Pathway to Financial Transformation Essay Contest encourage entrants to reflect on their current financial situation and envision a roadmap towards financial success."

Submission rules and guidelines are available online: www.lafcu.com/ptft. Winners will be selected June 20.

Chartered in 1936, LAFCU is a not-for-profit financial cooperative open for membership to anyone who lives, works, worships or attends school in Michigan and to businesses and other entities located in Michigan. The credit union serves 74,000 members and holds over $1 billion in assets. Named a Best Credit Union to Work For, LAFCU offers a comprehensive range of financial products and services as well as an expanding complement of financial technology solutions. Members enjoy benefits such as low fees, low interest rates on loans, high yields on savings, discounts, knowledgeable employees and nationwide access to fee-free ATMs. A recipient of the national Dora Maxwell Social Responsibility Community Service Award for credit unions, LAFCU enriches the communities it serves by supporting many organizations and causes. To learn more about LAFCU, visit www.lafcu.com.

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Photo caption
LAFCU Pathway Contest.jpg – LAFCU team members pose with three of the four winners of the credit union’s 2023 Pathway to Financial Transformation Essay Contest. Cyrene Irelan, Caliyah Roberson and Elizabeth Ronning were each awarded $2,500 for their one-page essays that reflected on their current financial situation and think critically about how they would create a better financial life.

  • LAFCU logoColor_highres
  • LAFCU Pathway Contest graphic
  • LAFCU Pathway Essay Contest

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