STCU commits $250K for area scholarships

Spokane Valley-based STCU announced Thursday that its newly created Here for Good Foundation has committed a total of $250,000 over five years to help LaunchNW and its effort to ensure all area students have the opportunity to pursue post-high school education or training.

In May, the Spokane-based community foundation Innovia unveiled a sweeping $150 million initiative to award scholarships to help every student across the Inland Northwest pay for college or vocational training. The program also includes services to help families foster successful students.

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, in a news release. “We are inspired by this effort to spark generational change.”

Launched in January by STCU, the Here for Good Foundation awards grants to schools and nonprofit organizations from central Washington to North Idaho. It focuses its giving on education, arts and culture, and economic impact, according to the release.

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, which serves 20 counties in Eastern Washington and North Idaho.

“The Here for Good Foundation’s $250,000 commitment is generous and inspiring,” said Ben Small, the LaunchNW executive director. “This is an example of an organization giving back in a way that will impact students and families for generations to come.”

STCU is a not-for-profit financial cooperative with more than 270,000 members at 38 branch locations. It was founded by educators in 1924 and it remains committed to lifelong learning, according to the release.