Memorandum

TO:                  All Members of Carolina Cooperative Credit Union

FROM:            The K.C. Sinclair Scholarship Committee

SUBJECT:       Scholarship Announcement

DATE:             September 14, 2005

The scholarship established in 1989 by the Board of Directors in memory of   K.C. Sinclair, founder of the Charlotte-Mecklenburg Teachers’ Credit Union, is now open for applications.

This memo is to remind or inform you of the scholarship and the guidelines used to determine the scholarship recipient.

Two K.C. Sinclair Scholarships, in the amount of $1000 each, will be presented in May of the current school year to two members of a graduating high school class.

The Scholarship Committee must receive all completed applications for this school year no later than April 1.  The committee will consider each application and select the recipients by May 1.  Please follow the instructions on the applications carefully.  If there are any questions about the application, please call the credit union office for clarifications.