Money Masters Scholarship Program
Debuting in 2023, the Money Masters Scholarship Program has provided partnership opportunities for member financial institutions and youth-focused community organizations to deliver in-person financial literacy education and related scholarship opportunities to rising seniors and other young adults.
New in 2026, Money Masters+ takes the scholarship program to the next level: with a focus on financial literacy and scholarships for foster youth aging out of care, the program seeks to positively impact vulnerable youth with the education and tools necessary to navigate new housing situations and personal finance management.
Money Masters: The Original Program
FHLBank Indianapolis awards up to $25,000 a year to each eligible partnership between a member financial institution and youth organization partnership, for a total of up to $75,000 across three years. Awards are made annually for a three-year period on a first-come, first-served basis. The scholarship funds are deposited into bank accounts with the designated member institutions, which scholarship recipients can access for discretionary expenses.
Over the first three years of the program, FHLBank Indianapolis provided more than $500,000 in scholarships to over 300 students in partnership with 28 member financial institutions and community organizations.
Read more about the first iteration of Money Masters.
Introducing Money Masters+
The expanded Money Masters program, Money Masters+, will support foster children who “age out” of their foster homes. Money Masters+ provides foster youths with the skills and resources needed to support their transition into adulthood. Under this program, member financial institutions will provide financial counseling and credit building services throughout the year and will connect the youth with various housing assistance programs. Scholarship recipients may use the funds for housing, education or other essential life needs.
Money Masters+ webinar
On July 15, FHLBank Indianapolis staff and partners from the Money Masters Scholarship Program presented an overview of the original program and training for Money Masters+, the newest program iteration. View the recording below and access the webinar slide deck here.
Additional information about the Money Masters Scholarship Program and Money Masters+ will be posted soon.
For more information about Money Masters or Money Masters+, please contact Marchelle Costa, Associate Director, Corporate Responsibility and Strategic Engagement, at mcosta@fhlbi.com.