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A New Addition to APFCU’s Scholarship Program

April 21, 2023

Wallace Watanabe Excellence Award, an enhanced $5,000 scholarship in memory of APFCU's former president & CEO

UPDATE: Application deadline is extended to May 26!

Aloha Pacific’s Masami Oishi Memorial Scholarship program is launching a special $5,000 award in honor of Wallace Y. Watanabe, who served the credit union for more than 41 years and retired as president and CEO in 2013. Wallace passed away in September 2020.

This additional scholarship award will honor Wallace for his decades of commitment and dedication to Aloha Pacific. Scroll down to learn more about Wallace, his legacy and many contributions to the credit union movement in Hawaii.

The recipient will be the most outstanding applicant – based on financial need, academic achievement and community service and/or extracurricular activities – as determined by our panel of judges. Extracurricular activities is a new category that may include employment, sports and recreation, arts, clubs, etc.

Fifteen applicants will each receive $2,000 based on the same categories.

All awards will be sent directly to the recipients' schools.

The scholarship is in its 36th year, and has awarded more than $500,000 to hundreds of APFCU members. Click here for the application.

The completed application, including official transcripts, a letter of intent and a resume, must be postmarked or delivered to a branch no later than Friday, May 26 (extended deadline). 

Important details regarding transcripts:

  • Transcripts must be official, not photocopied or downloaded by applicants.
  • Official transcripts usually are generated by registrars offices and sealed, often featuring a raised stamp of the school or other security elements.
  • Unofficial transcripts will disqualify your application.
  • Applicants may ask their schools to mail official transcripts directly to us in sealed official envelopes or email a link to the official transcripts, generally requiring a password, to
  • Copies or printouts from student portals are not official and will not be accepted.

If you have questions about what is official or not official, ask your registrar’s office or college counselor for details.

Please note that scholarship awards are restricted to one award per primary member per lifetime so that we may assist as many members as possible. 

Eligibility requirements include:

  • APFCU primary membership in good standing: at least $5 in your savings account and no loan delinquencies for at least one year prior to July 21, 2023 (joint account owners are not eligible)
  • Enrollment full time in an accredited program, such as an associate, baccalaureate or graduate degree, or technical school

Recipients must be available in mid to late summer for picture-taking and to pick up their awards. Pending health guidelines, recipients may be asked to submit high-resolution portraits instead.

Visit any branch for details. Some restrictions apply. Scholarship awards are restricted to one award per primary member per lifetime. See scholarship application for details.

Wallace Watanabe - a Legacy of Excellence