St. Croix Electric Cooperative awards $18,000 to local students

HAMMOND – May is an exciting time for local high school seniors as they prepare for graduation. In the days leading up to graduation, many students are also recognized with scholarships to be used toward their continuing education. In 2017, a panel of St. Croix Electric Cooperative members selected 20 local high school seniors to receive $18,000 in Continuing Education Scholarships. Since 1981, SCEC has awarded more than $260,000 to local seniors who are the dependents of SCEC members.

Among the students who recieved a scholarship is Kelsey Magsam, the daughter of Kerry and Darla Magsam. Kelsey attends Glenwood City High School.

Selection for scholarships includes consideration for accomplishments in academics, community involvement, cooperative knowledge, scholastic activities, demonstration of leadership and financial need. The scholarship program is divided into two categories: technical schools (one- or two-year programs), $500; and four-year institutions, $1,000.

Under State law, unclaimed capital credits from Cooperative members can be used for educational and charitable purposes, such as scholarships. In 1981, SCEC created a scholarship program, funded by unclaimed capital credits. They selected Federated Youth Foundation, a 501(c)(3) non-profit charitable foundation serving approximately 70 member cooperatives in Wisconsin, to manage the unclaimed capital credits fund. Since then, more than $260,000 in scholarships have been awarded to local high school seniors who are dependents of SCEC members and planning to attend a one-, two- or four-year college or program following graduation.

“Being able to reinvest unclaimed capital credits into continuing education for local youth is an annual example of the Cooperative Difference,” SCEC Chairman of the Board Bill Peavey said. “The Class of 2017 is one that our members can be proud of. We wish all local students best of luck as they start new chapters in their lives – whether they are choosing to work or attend college.”

Throughout May, SCEC directors and employees either attended local high school awards ceremonies or personally presented certificates to each of the scholarship recipients. Students will receive their scholarship checks once they provide proof of enrollment for the Fall 2017 semester.