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Community Notice: The Credit Union Rupert McCoy Memorial Education Grant is Now Accepting Applications

Community 29 Apr, 2020 Follow News

Community Notice: The Credit Union Rupert McCoy Memorial Education Grant is Now Accepting Applications

Since 1994 (26 years), the CICSA Co-operative Credit Union has awarded many students annual education grants. This tradition continues in 2020. However, this grant will now be known as the Rupert McCoy Memorial Education Grant in honor of the late Mr. Rupert McCoy, a dedicated volunteer, ambassador and advocate for the Credit Union. Applications are now being accepted online and the annual deadline has been extended to 15 May to allow Members additional time to gather the relevant documents.

In total, the Credit Union has provided more than KYD $2 million dollars in educational grants to Credit Union members. Last year, 2019, the programme awarded over KYD $200,000 in monetary grants to 166 successful member applicants.

At the 2019 AGM, the Credit Union Members voted to increase the educational grant amount from KYD$200,000 to KYD$300,000 in order to expand grant opportunities to those seeking to pursue technical and vocational training. This in an opportunity for Members as young as 17 and older to pursue tertiary, technical and vocational studies overseas, locally or online.

Grant recipients are selected based on their academic record, character references, and area of study. The Rupert McCoy Memorial Education Grant is one of the many benefits offered to Member-owners of the Credit Union and is intended to provide an opportunity for Members to fulfill their education and career goals.

“The Credit Union differs from other financial institutions in that we put our members first. We provide affordable financial services and significant opportunities for lifestyle advancement to all our members. The Rupert McCoy Memorial Education Grant Programme exemplifies our core value proposition of ‘Members Helping Members’ and allows us to provide real help to students and their families to achieve their educational goals,” - Michael Nixon, Chairman of the Credit Union’s Board of Directors.

Credit Union Members in good account standing, or immediate family members to Credit Union Members, pursuing post-secondary studies or technical and vocational training either locally, overseas or online, are invited to apply online by accessing the grant website: cicsa-creditunion.org/rupertmccoyeducationalgrants

The deadline to submit the application via the online form and the related documents is 11:59pm, 15 May 2020. (This is an extension from the original 30 April deadline.)



In the Cayman Islands, the CICSA Co-operative Credit Union has assisted members for 44 years. It was founded in 1975 by seven Cayman Islands Government Civil Servants and incorporated in 1976 and since, has focused on providing services to members at low fees, encouraging saving and offering competitive loans. It currently has over 14,000 members. CICSA Co-operative Credit Union is also a member of the Cayman Islands Banker’s Association.

In his more than 30 years of service to the Credit union, Mr. Rupert McCoy was fully committed to not only the credit union movement and philosophy in the Cayman Islands, but also regionally and internationally. As a Credit Committee Chairman and Board Vice President and President, he assisted CICSA Co-op Credit Union by offering several tailor-made training courses for members and staff. It is in this spirit of service and dedication to improving knowledge and education, we honor Mr. Rupert by offering students educational grants in his name.

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