Mexicos leading credit union grants scholarships to thousands of students
27 Nov 2013
A credit union devoted to the ideas of social responsibility and mutual aid, Caja Popular Mexicana is offering thousands of scholarships to its young members.
From 2008 to 2013, Caja Popular has approved more than 30,000 funding requests from pupils across the country, making a total contribution of MXN 52m in scholarships. This year it offered MXN 15m to over 8,000 students of primary, secondary and high school, all needing financial support to continue their studies.
Pupils were able to send funding requests from 30 June to 31 August. To be considered for funding opportunities, pupils had to have been a member of Caja Popular Mexicana for more than two years. All members under 18 could apply for funding, providing they had high results in primary, secondary and high school.
The aid consists of the equivalent of 25 days of minimum wage for primary schools pupils, 20 for secondary school and 40 for high school students.
“This scholarship is helping me a lot, this is the third year that I receive it. I save some of it and I use the rest of it to buy things for school. E feel very happy and I hope they will continue to give scholarships year from now on for all children that with good results, because this stimulates them,” said Yamilet Garcia Diaz, a 10 year old primary school pupil from Veracruz.
By enabling parents to open accounts for their children, Caja Popular Mexicana has managed to attract a number of young members. The Mexican credit union has over 1.8 million members across Mexico, 236,000 of which are children. With 463 branches across 26 states, Caja Popular Mexicana is the country’s largest credit union and has been operating for over 62 years.
Caja Popular Mexicana is a financial co-operative that aims to improve the quality of life of its members. Every year Caja Popular Mexicana calls for applications for financial support. To apply for funding, young members had to fill in a form, which they could find at their local branch.
