CPCU Credit Union of Somerville and its volunteer scholarship committee has awarded four $1,000 scholarships to college-bound credit union members.

The Carlos Faria and Victor Da Silva Memorial Scholarships are awarded to students in recognition of their scholastic merit, financial need and community and school involvement.

Recipients of the scholarship for the 2010-2011 school year are: Jessica Fernandes of Medford, Nicole McAllister of Groton, Jessica Monte of Arlington and Michele Pacheco of East Boston.

"It is so important to acknowledge students for their academic merits. I am proud to be a part of an organization that continuously supports the educational goals of students within our community," said Isaac Machado, committee chairman.

"CPCU is dedicated to helping members of the credit union reach their educational goals. Each year we look forward to announcing the continuation of this scholarship because we know that along with education comes a financial burden. More so than ever, CPCU is committed to investing in the education of our youth," said Rui Domingos, CPCU Credit Union CEO.