[april 13, 2023]
STCU’s newly created Here for Good Foundation has committed $50,000 a year for five years to help LaunchNW achieve its mission of ensuring every child has the opportunity and support to pursue the post-high school education and career of their choice.
With a goal of beginning with the class of 2024, LaunchNW will offer scholarships to fill financial gaps for tuition for underprivileged graduating high school seniors in Spokane County. As the LaunchNW endowment grows, rollout will continue across Eastern Washington and North Idaho – an area that includes 102 school districts, nearly 150,000 students and more than 1 million residents.
The scholarships can be used for apprenticeships, technical and associate degrees, credentials and bachelor’s degrees.
“The LaunchNW vision of helping each individual achieve their highest possible potential will lift individuals, families and communities throughout the Inland Northwest,” said Ezra Eckhardt, STCU President and CEO. “We are inspired by this effort to spark generational change.”
“LaunchNW is a community mission, and STCU has been on this mission with us from the very beginning,” said Ben Small, LaunchNW Executive Director. “The Here for Good Foundation’s $250,000 commitment is generous and inspiring. This is an example of an organization giving back in a way that will impact students and families for generations to come.” Launched in January by STCU, the Here for Good Foundation awards grants to schools and non-profit organizations, with a focus on three areas of impact: Education, arts and culture, and economic impact.
It awards grants to schools and non-profit organizations across Eastern and Central Washington, Tri-Cities, and North Idaho. STCU seeded the foundation with a $1 million endowment that it hopes to grow to $10 million within 10 years. The Here for Good Foundation is administered by Innovia Foundation, the community foundation serving 20 counties in Eastern Washington and North Idaho.
LaunchNW, an initiative of Innovia, is committed to coordinating wraparound support for students all along their pathway from early childhood to job attainment, an effort embraced by STCU in addition to financial support from the Here for Good Foundation.
In a pilot program this winter, the credit union held after-hours events at three of its Spokane-area branch locations to assist families completing the Free Application for Federal Student Aid (FAFSA). STCU is training more employees to provide FAFSA assistance and will expand the effort to more branch locations in the fall.
Of the 50 states, Washington State ranks near the bottom for percentage of residents who complete the FAFSA, an important first step for post-high school education and career training programs. STCU is proud to join the community-wide campaign FAFSA Opens Doors to share the opportunities applying for financial aid unlocks for students and families across our region.
About STCU
STCU is a not-for-profit financial cooperative serving more than 270,000 members at 38 branch locations, and online at stcu.org. Founded by educators in 1934, STCU remains deeply committed to lifelong learning.