MyWay Scholarship

Geographic Scope: North Florida and South Georgia service areas (specifically mentions Tallahassee, FL and Adel/Valdosta, GA)

Program Background: First Commerce has awarded MyWay Scholarships for at least 10 years (as of 2024). The program recognizes students who demonstrate excellence in school and beyond.

Eligibility Requirements

• Age: 17-29 years old
• Account Requirement: Must have a First Commerce checking account in good standing
• Account Types: SmartStart Teen (ages 13-17) or Power Checking (ages 18+)
• Status: Must be pursuing higher education

Selection Criteria

Winners are selected based on:

• Grades/academic performance
• Community service
• Leadership
• School activities
• Work experience

Application Requirements

• Essay or short video elaborating on experiences with and approach to money
• Lessons learned about financial management
• Applications judged by independent panel of educators from:
  • Florida A&M University
  • Florida State University
  • Tallahassee Community College (formerly Tallahassee State)
  • Valdosta State University
  • Thomas University

Funding Details

• Disbursement: Paid directly to student's chosen institution of higher learning
• Eligible Uses: Tuition, fees, books, and school expenses
• Number of Awards: Typically 2-4 scholarships awarded annually (2 in Florida, 2 in Georgia based on recent years)

Account Features for Eligible Applicants

MyWay checking accounts include:

• Free online financial education courses
• Automatic Savings Option (EvenUp program rounds up debit card purchases)
• No Overdraft Fees
• Zelle® money transfer capability
• Real-time text and email alerts
• Credit score monitoring and management
• 24/7 digital banking with mobile deposit

Contact Information

• Phone: 850.488.0035 or 1.800.533.5772
• Website: FirstCommerceCU.org/Community/In-The-Community/MyWay-Scholarship
• Additional Info: FirstCommerceCU.org/Checking

Organization Background

• Founded: 1940
• Type: Full-service, not-for-profit credit union
• Service Areas: Locations across North Florida and South Georgia
• Structure: Member-owned cooperative

Application Process

1. Eligibility Check: Verify you have a First Commerce checking account in good standing (SmartStart Teen or Power Checking)
2. Obtain Application: Contact First Commerce or visit their website for application materials
3. Complete Application Form: Submit personal and academic information
4. Submit Essay or Video:
   • Option A: Write an essay elaborating on your experiences with money and approach to financial management
   • Option B: Submit a short video on the same topic
   • Include lessons learned about managing money
5. Submit Application: Send completed application with essay/video to First Commerce
6. Judgment: Independent panel of educators from partner institutions reviews applications
7. Award Notification: Winners are selected and notified
8. Disbursement: Scholarship funds are paid directly to the student's chosen institution

Required Materials

• Completed scholarship application form
• Essay or short video (required)
• Proof of enrollment/acceptance to institution of higher learning
• Demonstrated active First Commerce checking account in good standing

Judging Criteria

Applications evaluated on:

• Academic performance (grades)
• Community service involvement
• Leadership demonstrated
• School/extracurricular activities
• Work experience
• Quality of essay/video response about money management and financial lessons