~2010~

Scholarship and Incentive Award Program

1. Applicants must be Ukrainian FCU members in good standing and have a primary share savings account in their own name for at least one year. Primary membership accounts must have been opened on or before March 1, 2009.

2. Applicants must be either high school seniors accepted to or current undergraduate, full-time students attending an accredited college, university or degree-granting vocational education institution. Undergraduate students completing studies and graduating in spring of 2010 do NOT qualify or previous Ukrainian FCU scholarship or incentive award recipients are NOT eligible.

3. Applications will be evaluated on the basis of two essays, scholastic achievements, academic standing, and commitment to academic program, community, school or sports involvement, volunteer activities and should be active in one or more UFCU common bond communities. Academic, community and employer references and other specific criteria will be considered.

4. Scholarships and Incentive Awards will become effective upon notification of acceptance by the accredited college or university and made payable to both the educational institution and recipient and must be used during the traditional academic year for academic purposes.

All applicants must fully complete and sign the 2010 Scholarship Application Form. With the application, students must submit academic grade transcripts from attending high school, college, university or vocational education institution. Transcripts must indicate cumulative grade point average. In addition, two letters of recommendation, at least one from a teacher, counselor or school administrator, two recent color photos and two essays must be included with the application. Each essay must be at least 800 - 1000 words on each of the following topics:

1. Credit Unions - development of cooperative financial movement in the 20th century

2. Significant historical event(s) in Ukraine during the 20th century

3. Marks on the essay will be based on intellectual content, presentation and style. Each essay must be word-processed in a 12-point font, double-spaced, with pages numbered. A bibliography must be included.

Completed application forms, essays and all required documents and information must be addressed to "Ukrainian FCU Scholarship Selection Committee", submitted, postmarked and received by the Scholarship Selection Committee at Ukrainian Federal Credit Union, 824 Ridge Rd. E, Rochester, NY 14621 on or before March 1, 2010. No late or partial applications will be accepted.

All applications are reviewed and evaluated by the Scholarship Selection Committee, appointed by the UFCU Board of Directors.

Selection will be based on student's overall academic progress, extracurricular activities, participation in community activities and required written essays. Essays will be reviewed based on intellectual content, originality, presentation and style.

Applicants not receiving a Scholarship or Incentive Award and those with incomplete or late applications may apply again in the following academic year.

Applicants with incomplete and late applications will be notified of their ineligibility for the 2010 Scholarship program by March 31, 2010. All other applicants will be notified of the Scholarship Selection Committee decision by April 15, 2010. Scholarship and Incentive Award Recipient schools will be notified by May 1, 2010.

All eligible UFCU student members are encouraged to visit their nearest branch or the UFCU website www.rufcu.org for an application and more information on the 2010 Scholarship and Incentive Award program.

Applicant is responsible for seeing that all necessary documents are submitted in one package by the deadline (March 1, 2010). Persons writing reference letters should give it to the student in a sealed envelope. All reference letters must be submitted in individual, sealed envelopes in the application package. Name, address and phone number is necessary for each reference.