By Lisa Hochgraf
According to a recent blog post from the Atlanta Journal and Constitution, the holiday season is one of the most popular times of the year for opening 529 plans — the tax deferred accounts that help parents save and for qualifying higher education expenses.
Sometimes parents set up the accounts and invite relatives to make contributions during holidays and birthdays, the article says. Sometimes relatives or friends open the account and contribute on behalf of a beneficiary.
CUES and the National Credit Union Foundation have done something similar this year by setting up the Fred Johnson Scholarship Fund to help credit union executives attend CUES' CEO Institute, an unparalleled professional development program for credit union leaders. You're invited to contribute!
A selection committee of three members—including a NCUF board or staff member, a CUES board member appointed by the chairman, and CUES’ president/CEO or another appointed staff member—will score each applicant based on their responses to three essay questions. The scores will be weighted 75 percent on financial need and 25 percent on dedication to the credit union profession. The committee will determine the amount of each scholarship based upon the funds available to disburse each year.
There is clearly a need, as 10 applications for the scholarship have already been received! (The deadline for applications is Jan. 11.)
To give the gift of education in the CU industry this year, please send your tax-deductible donation to NCUF, Attn: Fred Johnson Scholarship Fund, 5710 Mineral Point Road, Madison, WI 53705.
Lisa Hochgraf is a CUES editor.
