ALBUQUERQUE, N.M. (4/28/11)--The New Mexico Credit Union Education Foundation awarded $114,000 in scholarships to 114 students for the 2011-2012 school year. Each scholarship recipient was awarded $1,000. Applications from more than 400 students were received. Applicants must be New Mexico residents, full-time students and maintain a minimum grade-point average. The foundation is a scholarship program formed by special legislation through which credit unions use abandoned funds for educational or charitable purposes. Since it was established in 1992, the NMCUEF has presented 1,069 scholarships totaling $612,600 to students attending accredited vocational or technical schools, colleges or universities in New Mexico.