Michigan First Credit Union is pleased to announce the Michigan First Foundation and its inaugural college scholarship contest with a $10,000 grand prize. The foundation will continue the credit union’s rich legacy of support for dozens of educational and community-focused organizations and causes across metro Detroit.

Students interested in the scholarships, offered as part of the Young & Free Michigan program, can enter by submitting a 60 second video answering the question: ”What impact will your education have on where you will be in ten years?” Applicants are encouraged to get creative with the video process and share the contest within their social networks. Beyond first prize, the foundation will award scholarships of $5,000 for second place, $2,500 for third place and an iPad 2 for the “People’s Choice” winner of online voting. Current college students and high school graduates ages 18-25 planning to attend college in the fall of 2012 can learn more at YoungFreeMichigan.com, where voters will choose the ten finalists for the top prizes.

“We began as a credit union for Detroit teachers, and we’ll never forget that heritage or diminish our deep commitment to education,” says foundation President Michael Poulos, who is also Michigan First’s president/CEO. “This year, we’ve created the foundation to leverage our commitment to metro Detroit and expand our reach. Adding the college scholarship contest gives more students the encouragement and support to continue with higher education, paying dividends for the strength of our communities and help build a better future for Michigan.”

The foundation will also continue Michigan First’s separate $1,000 high school scholarship program for the 11th year. High school seniors can enter through their school counselors at participating schools, while college students and high school graduates can apply online through the Young & Free Michigan website. Only current members of Michigan First (and for high school students, those that attend participating schools in Wayne, Oakland and Macomb counties) are eligible, but non-members are encouraged to join.