When it came to naming the scholarship awarded by a group of credit unions in Co Waterford to a business-studies student starting out at Waterford IT, the donors were in no doubt: John Hume was their man.

Hume's links with the credit union in Waterford go back more than three decades. It was back in 1963, when he was involved in Derry's credit union, that he arranged to travel to Waterford to discuss the setting up of a credit union there. In the event, he was unable to make the appointment and a local priest went in his place. "Father Gallagher drove all the way down from Derry to Waterford in a Mini and drove home the same day," says Linda O'Kane, a director of Waterford Credit Union. John Hume, though, did make it to Waterford. In 1966, when he was president of the Irish League of Credit Unions, the movement's annual general meeting was held in the city. He was a back there last week to launch the John Hume Credit Union Scholarship. This four-year scholarship, worth £1,000 per annum, is open to students who are - or whose parents are - credit union members.

Applications are made in April by Leaving Certificate students hoping to obtain places on WIT's four-year degree programme in business studies. Applications are sent to WIT, where they are vetted by academic staff. The scholarship is supported by St Dominic, Lisduggan, Tramore and Waterford credit unions. However, O'Kane stresses that the credit unions play no role in the selection of scholars.