$18,000 in Scholarships Available! Apps Due 3/10
FOR IMMEDIATE RELEASE
MEDIA CONTACT: Dana Bolwerk, Communications & Events Coordinator
Communications@scecnet.net | 715-796-7000, ext. 613
St. Croix Electric Cooperative Accepting Scholarship Applications
Directors approve $18,000 in awards, applications due March 10
HAMMOND, Wis., Feb. 17, 2017 – St. Croix Electric Cooperative (SCEC) Board of Directors has approved $18,000 to be awarded via scholarships to local students this spring.
Any high school or home schooled senior who is the dependent of an SCEC member and will be continuing their education in Fall 2017 is encouraged to apply. Applications are due March 10, 2017, and are available at the SCEC office, online at www.scecnet.net and with local guidance counselors. Completed applications are judged in two categories: one- and two-year programs ($500 scholarship) and four-year college or university ($1,000 scholarship). A scholarship committee of Cooperative members determines scholarship recipients based on a points system. In selecting recipients, attention is given to applicants with accomplishments in academics, community involvement, cooperative knowledge, scholastic activities, and demonstration of leadership and financial need.
“St. Croix Electric’s Continuing Education Scholarship program was created by members in 1981. Since then, nearly $250,000 has been awarded to dependents of Cooperative members,” said Dana Bolwerk, SCEC communications and events coordinator. “Members created the program and members serve on the scholarship review committee, which is no easy task. Every year, the review committee remarks how impressed they are with the applicant pool. We have some amazing students in our service territory.”
Funds for the annual program come from SCEC members’ unclaimed capital credits. As a not-for-profit cooperative, SCEC allocates its annual margins to each member who paid for power during that year, in proportion to the amount they paid for their electricity. As financial conditions allow (usually on a 20-year cycle), these margins are distributed to members as capital credits. If a capital credit check is returned to the Cooperative, that member’s name is added to a list of “missing members,” which is published in local newspapers in early July. Any capital credits not claimed after four years are deposited into SCEC’s Federated Youth Foundation account. The money for annual scholarships is drawn from this account. Members may also choose to have their capital credits deposited in the FYF account as they are retired; contact SCEC at 715-796-7000 to make arrangements.
Completed scholarship applications must be postmarked or dropped off at the SCEC office (1925 Ridgeway St., Hammond) by Friday, March 10, 2017. Questions may be directed to Bolwerk at 715-796-5613.
About St. Croix Electric Cooperative
For 80 years, St. Croix Electric Cooperative (SCEC) has delivered electricity to rural St. Croix County, Wis. The Cooperative operates more than 1,760 miles of distribution lines that power 11,000 meters. SCEC helps members realize the Cooperative Difference through Commitment to Community grants, scholarships, and offering members rebates and solutions to conserve and use energy wisely. Information is shared with members at the spring annual meeting, via Energy Lifestyles Magazine, the Co-op website at www.scecnet.net, and on social media: @StCroixElecCoop (Twitter) and St. Croix County Energizer (Facebook).