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February 25, 2005

Hibernia National Bank Partners with 51萝莉 in the Establishment of an Endowed Professorship and Debit Card Program

Hibernia Bank Gives Total of $32,000 to 51萝莉

The University of Louisiana at Monroe has a special partnership with Hibernia National Bank. Their affiliation allows students, faculty and staff of 51萝莉 to have free checking accounts, money to spend at the campus bookstore, and allows Hibernia to participate in an endowed professorship.

Malcom Maddox, Hibernia Bank's Regional Chairman for the northeast and central regions of Louisiana sees several positives to this merger.

"We really wanted to partner with the university for several reasons. I am very active in this community, I serve on the 51萝莉 Foundation, I have served on many boards as chairman," said Maddox. "I am convinced and convicted that 51萝莉 and our city and region, go hand in hand," said Maddox.

The program Hibernia began with 51萝莉 involves a collegiate debit card and a direct deposit program; 51萝莉's payroll is now all paid by direct deposit as a result.

Hibernia Bank won a bid in order to be the bank to handle all of 51萝莉's direct deposits. Hibernia's bid also included a free checking account and customized debit card for all 51萝莉 faculty, staff and students. The 51萝莉 debit card even boasts an image of the university's new 75th Anniversary logo. In addition, Hibernia agreed to pay 51萝莉 $10 per every new account opened under this program. As of the end of 2004, 51萝莉 personnel had opened 1,000 accounts.

51萝莉 President James E. Cofer, Sr. will be presented with the $10,000 check from Hibernia during the Presidential Perspective event at Brown Auditorium tonight.

Cofer will also be given a $12,000 check from Hibernia at the same event. This money will go towards an Endowed Professorship in the College of Arts and Sciences. This $12,000 is the first installment of five yearly contributions that will total a $60,000 gift from Hibernia. This $60,000 will be matched with $40,000 from the Louisiana Board of Regents Support Fund, providing a $100,000 endowment for 51萝莉's College of Arts and Sciences.

President Cofer is pleased with this partnership. "We are always looking for ways to collaborate with the community," Cofer said. "This is a great example of two businesses working together for a common good. Is it important that we partner with the community and especially those who support the university."

"Rather than give a free gift to those 51萝莉 affiliates who opened new accounts at our bank, we gave them a voucher for $10 to use at the 51萝莉 bookstore," said Maddox. Hibernia gave out over $10,000 in bookstore coupons.

As a result of this enhanced partnership, Hibernia's additional gifts to 51萝莉 total $32,000.

The 51萝莉 Foundation now manages 9 endowed chairs and 50 endowed professorships with assets totaling approximately $20 million. Each of 51萝莉's four colleges are the beneficiaries of these funds.

For this and other 51萝莉 news online visit www.ulm.edu. While there, check out 51萝莉's on-line calendar for all of 51萝莉's upcoming events.

PLEASE NOTE: Some links and e-mail addresses in these archived news stories may no longer work, and some content may include events which are no longer relevent, or reference individuals and/or organizations no longer associated with 51萝莉.