Grant funds can be used for nearly anything that will improve each individual’s financial outlook, such as paying down, or paying off debt, including medical bills, student loans, credit cards, and more.

Designed to help strengthen the financial stability of people in the communities LAFCU serves, the essay contest encourages participants to reflect on their financial journey and share how they are working to build a better financial roadmap.

“This grant program aligns with LAFCU’s mission to empower individuals with resources and opportunities that promote financial transformation,” said Shelia Scott, LAFCU community financial education and business development officer. “While these grants solve immediate financial needs, LAFCU also offers a free eight-month educational course for both members and nonmembers, which helps people gain the knowledge they need to more effectively manage their financial futures over the long term.”

To enter, individuals simply submit a one-page, 500-word essay addressing the questions below: 

• What choices have you made in the past that have influenced your financial decisions?
• What financial transformations have you achieved in the past 12 months?
• How will this grant help you transform your future financial goals?

Entries will be evaluated on the clarity and strength of the content, and how well they meet the contest requirements, including formatting, spelling and grammar.

For full contest rules, submission instructions, and more information, please visit: www.lafcu.com/ptft. The deadline for entry is May 31, 2025. Winners will be announced June 20.

About LAFCU

Founded in 1936, LAFCU (pronounced laugh-cue) is a not-for-profit, member-owned credit union open to all who live, work, worship or attend school in Michigan, and to Michigan businesses. LAFCU serves more than 74,000 members and holds over $1 billion in assets. With a particular focus on serving people of modest means, LAFCU is committed to enhancing its members’ financial well-being and creating long-lasting positive change across generations. Awarded the prestigious Dora Maxwell Social Responsibility Community Service Award, LAFCU is known for its people-helping-people mission, which has led to award-winning financial literacy programs for all ages. Twice honored as a national ‘Best Credit Union to Work For’ and recognized globally for its diversity, equity, and inclusion initiatives, LAFCU stands out for its commitment to creating an inclusive workplace. Learn more at www.lafcu.com.

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Photo captions

2024 LAFCU Pathway Contest Winners.jpg— LAFCU team members are pictured with three of the four recipients of the credit union’s 2024 Pathway to Financial Transformation Essay Contest. Octavia McKinney, Sharmonique McFadden and Candace Ulett each received $2,500 to address immediate financial needs.

LAFCU Pathway Essay Contest.jpg— LAFCU will award $2,500 each to four individuals through its Pathway to Financial Transformation Essay Contest, providing a total of $10,000 to help individuals pay off or pay down debt.