In response to the COVID-19 pandemic, First Commerce Credit Union doubled the number of available MyWay Scholarships in 2020, awarding four $1,000 scholarships to local students.

“We recognize that families in the communities we serve may be facing added financial challenges due to the economic uncertainties caused by the pandemic,” said First Commerce CEO Cecilia Homison. “As a credit union committed to empowering people to enhance their financial well-being, we believe doubling the number of scholarships this year is a wise investment in helping more area students pursue a brighter future.”

This year’s MyWay Scholarship recipients are: Lexi Irwin, Rosalea Marshall, Ilia Seleznev and Akhil Shiju. Three of the recipients will attend Florida State University, with Irwin pursuing a degree in Business, Seleznev in Finance, and Shiju in Biology. Marshall is currently attending Montreat College in North Carolina with plans to graduate in May 2022 in Outdoor Ministry.

Applications and essays/videos were reviewed by an independent panel of judges from area institutions of higher learning including Chipola College, Florida A & M University, Florida State University and Tallahassee Community College. Winners were selected based on criteria including grades, test scores, community service, school activities, and work experience. In addition, each applicant submitted an essay or short video elaborating on their experiences with and approach to money including lessons learned.

In her essay, Irwin credits her job and financial obligations as the teaching tools for learning how to budget. She emphasized three important lessons from her experiences: “pay your dues, save, and give back.”

Marshall, who is a Resident Assistant at Montreat College, has found consistency in her budget with a steady income. In her essay, she writes about being able to “plan on how much I will have for eating out, paying expenses, and fun items.” She believes it is wise to have an emergency fund to prepare for the unexpected.

Seleznev describes paying off credit card debt monthly to “get on the right financial track.” After her first job, she began implementing SmartMoney techniques she learned from First Commerce such as, “pulling money from each paycheck to save for the year ahead” and allocated her expenses into spending categories such as groceries and gas. She concludes that “proper treatment of her personal finances will help build a successful future.”

Shiju’s video submission provided insights on the monetization of happiness. He states that a powerful mindset can “help you receive a greater satisfaction for your work.” By shifting your mindset from “what should I do?” to determining “this is what I can do right now,” Shiju believes you can save both time and money because you must first make the decision and then apply the actions.

Since 2016, First Commerce has awarded more than $12,000 in scholarships to members of their MyWay Checking program who demonstrate excellence in school and beyond. The scholarships can be used toward school expenses including tuition, fees, and books. All members of First Commerce’s MyWay Checking program are eligible for the scholarship opportunity.

MyWay is First Commerce’s National Award-Winning program for 18-29 year olds, and includes a free checking account with free digital tools to help members stay on top of their finances, a nationally recognized EvenUp automatic savings account that rounds up debit card purchases to the next dollar amount and deposits the difference, as well as a focus on financial education including an annual credit report review with a First Commerce Financial Services Officer.