The University of Wisconsin Credit Union will donate $215,000 to need-based scholarships at UW-Madison and match contributions from its members today through Dec. 31, university officials said Wednesday.

In addition, the UW Foundation will match total gifts from the credit union and its members. That means a donation from a credit union member of $100, for example, would yield $400 for the university.

This is part of the UW Foundation's initiative, "Great People. Great Place." The foundation has set aside $20 million to match private gifts designated to need-based scholarships.

Chancellor Biddy Martin said it is essential to provide financial aid for needy students as the costs of higher education increase. For academic year 2006-2007, the average debt for graduating UW-Madison students was $21,018.

The credit union has started similar initiatives at other state campuses. It is giving $50,000 to UW-Milwaukee; $10,000 to UW-Stevens Point, UW-Whitewater and UW-Green Bay; and $5,000 to Madison Area Technical College.

The credit union will match those contributions, as well as the one to UW-Madison, up to the amount it donated. UW Credit Union president and CEO Paul Kundert said he hopes to raise $1 million in need-based scholarships through the programs.

The credit union has 123,000 members and is the top provider of education loans to UW-Madison students, Kundert said.

People can donate online at www.uwcu.org or in person at one of UW Credit Union's locations.

— Deborah Ziff