Magnifi Financial Scholarship Program

Magnifi Financial is offering scholarships to eligible members to help pay for their education. The credit union has offered scholarships to students for over a decade as a way to return profits to members.

Award Details:

• Number of Awards: Twenty (20) scholarships
• Award Amount: $1,000 per scholarship
• Total Available: $20,000
• Eligibility: Students of all ages with plans to enroll at a qualifying post-secondary school during the 2026-2027 school year

Geographic Scope

Members of Magnifi Financial who live or work in 32 different counties in MN, ND, and WI

Eligibility Requirements

• Be a member of Magnifi Financial and in good standing
• Be planning to attend an accredited college or university, or a two to four-year community, vocational or technical college in Fall 2026
• All eligible schools must be accredited by the U.S. Department of Education
• Be a full-time or part-time student at the school (can be traditional or non-traditional)
• Cannot be a previous recipient of a Magnifi Financial or Central Minnesota Credit Union scholarship
• Employees and immediate family members of Magnifi Financial employees are not eligible

Selection Criteria

• Applications reviewed and scored by a Kaleidoscope panel of judges
• Essays and videos judged on creativity, originality, and ability to deliver an impactful message
• Financial need is NOT considered in selection

Fund Disbursement & Requirements

• Scholarship funds can be redeemed starting December 2026
• Recipients must provide Fall transcript showing official grades and proof of registration for Spring classes
• Recipients must maintain minimum 2.0 GPA (4.0 scale) or equivalent "C" average to receive funds
• Must be redeemed by May 31 of the qualifying school year
• Funds must be claimed by May 31 of the year awarded

Contact Information

• Kaleidoscope Team: (800) 278-8762
• Website: help.mykaleidoscope.com
• Magnifi Financial: 1-888-330-8482

Timeline

• November 4, 2025 - January 31, 2026: Essay and video applications accepted
• December 1, 2025: Previous year scholarship winners can submit request to collect funds
• February - March 2026: Essays evaluated and scored
• March 2026: Final verification of recipients
• March - April 2026: Winners announced and contacted

What They Don't Fund

• Transcripts and letters of recommendation submitted with application will not be considered
• Video entries must not be derogatory, offensive, threatening, defamatory, disparaging, libelous, inappropriate, sexual, profane, indecent, slanderous, or discriminatory

Application Process

Prompt: In a short essay or video, explain:
"Reflecting on your personal journey with money and financial education, what key experiences or lessons have shaped your perspective on financial success? In what ways will you apply this knowledge to achieve independence, make thoughtful financial decisions, and inspire others as you pursue your educational and career goals?"

Submission Details

1. Submit either an essay or video through the Kaleidoscope application portal
2. Essays and videos will be judged on creativity, originality, and ability to deliver an impactful message
3. Applications are reviewed and scored by a Kaleidoscope panel of judges

Required Materials

• Essay OR video submission (applicant chooses format)
• No transcripts or letters of recommendation should be submitted

Video Requirements

• Video entries must not be derogatory, offensive, threatening, defamatory, disparaging, libelous, inappropriate, sexual, profane, indecent, slanderous, or discriminatory

Application Timeline

• Application Period: November 4, 2025 - January 31, 2026
• Winner Announcement: March - April 2026
• Winners Posted: By April 30, 2026

For Application Assistance

• Contact Kaleidoscope Team: (800) 278-8762
• Visit: help.mykaleidoscope.com

Fund Collection

• Previous year winners can submit a request to collect scholarship funds starting December 1
• Winners must submit a Funds Request Form after Fall semester is completed
• Provide Fall transcript showing official grades and proof of Spring class registration