ORLANDO, Fla.–FAIRWINDS Credit Union has announced a $1-million gift to endow a professorship in the University of Central Florida’s proposed FinTech program, the first of its kind in Florida’s state university system.
FAIRWINDS’ donation to the program, which will be fulfilled over the next eight years, was announced at the UCF College of Business’ annual Hall of Fame Gala.
“FAIRWINDS has been a great supporter of the College of Business for a very long time, and this most recent gift will help us produce the kinds of graduates Central Florida needs in a highly competitive and fast-changing industry,” said UCF College of Business Dean Paul Jarley. “The futures of FAIRWINDS and the College of Business, the leading supplier of business talent to the region, are intertwined. Such mutual interest is the bedrock of partnership, and we look forward to working with FAIRWINDS to create a world-class program that will propel us forward together.”
FAIRWINDS said it chose to fund the new professorship now in honor of UCF President John C. Hitt’s 26 years of service to the university, a milestone the university will commemorate on March 1. FAIRWINDS also announced plans to invest $100,000 this year to the Dr. Hitt Library in the UCF FAIRWINDS Alumni Center.
The gift moves UCF closer to the $500 million goal of IGNITE, a comprehensive campaign for philanthropic support set to wrap up in 2019. The campaign total currently stands at just over $350 million. Establishing more endowed faculty positions, like the FAIRWINDS professorship, is among the top priorities of the campaign.
“These prestigious positions help universities – especially public institutions like UCF – recruit and retain top professors in a competitive environment,” the credit union said. “Professors in endowed positions can use earnings from the endowment to advance their research and teaching, pay student assistants, travel to conferences, host high-profile speakers, mentor colleagues and address community needs.”
“We’re honored to make this commitment to our hometown university and to support the growth of the financial technology sector that is so important to the future of our members and our region,” said Larry Tobin, president and CEO of FAIRWINDS Credit Union, a UCF alumnus and member of the College of Business Hall of Fame. “As one of the largest financial institutions headquartered in Central Florida, we believe investment in technological innovation is critical not only for those of us who provide financial services, but also those who will become future leaders in this industry.”
FAIRWINDS also recently announced it will remain the student banking services provider for UCF for at least the next five years, extending a partnership that began in 2012. Through this partnership, FAIRWINDS is the only banking provider to offer students the option to link their UCF ID cards to a FAIRWINDS checking account for purchases on campus and at thousands of retail and ATM locations. Student accounts have zero monthly fees and no minimum balance, and students can also secure free money orders.
As part of its involvement with UCF, the recently launched FAIRWINDS Foundation supports the Cent$ible Knight$ financial literacy program, offering five $2,500 scholarships to students who complete the program. Cent$ible Knight$ provides students with information and resources that enhance their financial knowledge and equip them to make sound financial decisions.