Chesterfield Federal Credit Union awards scholarships to three area students

CHESTERFIELD, VA (May 8, 2015) — Chesterfield Federal Credit Union (CFCU) has awarded the Charles R. Quaiff, Sr. Memorial Youth Scholarship to three local high school students. Jesse Seal of Cosby High School, Taylor Singleton of Monacan High School and Kaitlin Perez of Lloyd C. Bird High School will each be awarded a $1000 scholarship at their respective school awards ceremonies.

Mr. Seal plans to attend Virginia Tech.

Mr. Morrissett plans to attend James Madison University.

Ms. Smith plans to attend Virginia Wesleyan College.

Chesterfield Federal Credit Union’s Charles R. Quaiff, Sr. Memorial Youth Scholarships are awarded based on academic achievement, school and community service, and a written essay on the differences between credit unions and other financial institutions. Eligibility to apply for the scholarship extends to any graduating senior who is a member or has a parent who is a member of CFCU. In the fifteen years that the scholarship has been awarded, Chesterfield Federal Credit Union has given away over $45,000.

In addition to the Charles R. Quaiff, Sr. Memorial Youth Scholarship, Chesterfield Federal Credit Union also offers two additional scholarship programs.  The Declare the Difference Scholarship Competition is a video competition that offers a $300 scholarship to a student in grades 9 – 12 at each Chesterfield County high school.  Winners from each high school compete in public voting for an additional $700 scholarship.  The Charles R. Quaiff Senior Continuing Education Scholarship offers two $500 scholarships for credit union members pursuing continuing education. Applications will be available at in July.

Chesterfield Federal Credit Union is a not-for-profit financial cooperative organized in 1963 by the employees of Chesterfield County and Chesterfield County Public Schools. CFCU has three branch locations: in Chesterfield on Public Safety Way, in Brandermill in the Market Square Shopping Center, and on Midlothian Turnpike in the Midlothian Station Shopping Center. Members can also access the Credit Union through over 4,000 shared branches and 50,000 free ATMs nationwide.

Unlike other financial institutions, credit unions are owned and controlled by their members. There are no outside stockholders and no paid Board of Directors. All of the credit union’s excess earnings are returned to members in the form of lower interest rates on loans, higher dividend rates on deposits, lower fees and additional services. The all-volunteer Board of Directors is democratically elected by the membership, and each member is entitled to one vote regardless of the amount they have on deposit.

For additional information, contact Chris Miller at 639-8023 x108 or by e-mail

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