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Students who graduated or will graduate from high school in May 2024 are eligible to apply for one of the two $2,500 IAACU College scholarships

The scholarships will be based on: Academic Performance (25 points), Activities (25 points), Essay (50 points)

  • Academic Performance
  • Extracurricular Activities
  • Essay
  • Must be an IAA Credit Union Member or Dependent of an IAACU Member to Apply


All applicants must meet the following general criteria to be considered for an IAA Credit Union (IAACU) Scholarship.

  1. Parent(s) and/or student must be an IAA Credit Union member
  2. Students must have graduated or will graduate from high school prior to the 2023/24 academic year
  3. Students must be accepted for enrollment or be enrolled at an accredited College, University or Community College
  4. The student may NOT be a child or relative of an IAA Credit Union employee or Board Director


In addition to eligibility guidelines, the following will be considered in selecting recipients with a point value assessed for each part:

  1. Academic Performance (25 points): Academic performance and honors, class rank, and ACT/SAT test scores
  2. Activities (25 points): Community and school activities, involvement, leadership positions, and awards/recognition
  3. Essay (50 points): Minimum 500 word typed essay Topic: Describe how your experiences or your family’s experiences as members of the IAA Credit Union will help you to advance your personal financial well-being in the coming years.


A minimum of two references, not from a relative, is required. It is required that at least one reference be related to academic achievement (i.e. teacher, dean, etc…) and one related to extra-curricular activities (i.e. club sponsor, volunteer coordinator, coach, employer, etc.).


All scholarship funds will be sent to the university, college, or community college prior to the beginning of the academic year. These funds will be applied toward the student’s tuition and/or room and board by the institution. Scholarship recipients are not restricted from pursuing and accepting other forms of financial aid, assistantship, or tuition waiver.


The application submission period will be from June 15, 2024 to July 31, 2024. Completed applications must be uploaded or mailed to IAA Credit Union main Branch at 808 IAA Drive, P.O. Box 2901, Bloomington, IL 61702-2901 on or before July 31, 2024. Supporting materials must be uploaded or mailed to IAA Credit Union to accompany the application packet. IMPORTANT All application materials MUST be included in a single application packet in the following order:

  1. Fully Completed and Signed Scholarship Application
  2. Transcript(s), including high school and college (if applicable)
  3. Résumé with honors/activities
  4. Essay
  5. Two Letters of Recommendation, on institution letterhead

You are responsible for including all items with your application. If one or more documents are missing, your application will be disqualified. Most recent transcripts are required for all applicants.

Thank you for your interest! If you have questions regarding the application or scholarship program, please contact Jennifer Killian at (309) 557-2541 or via email [email protected] with “Scholarship” in the subject line.

IAA Credit Union Scholarship

IAA Credit Union will award TWO $2,500.00 scholarships each school year based on the following criteria: Academic Performance (25 points), Activities (25 points), Essay (50 points)

The application period for the IAACU Scholarship will be June 15, 2024 to July 31, 2024

Start Your Application

This is not an application for mortgage.  Mortgage prequalification helps to determine if you meet the minimum requirements for a loan and how much home you can afford.  If the qualifications are met for the purchase price and loan terms you have listed you will be presented a pre-approval letter.  If you’re confident in your finances and are ready to apply now, you should complete a full application instead.

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