SOUTH BEND, Ind.–In support of School City of Mishawaka’s mission of growing leaders in a culture of excellence, South Bend-based Teachers Credit Union and the Mishawaka Education Foundation have announced a 10-year partnership that will include a $300,000 commitment over 10 years from TCU to the Foundation.
The pledge is for the use and benefit of the foundation, and school corporation’s academics, athletics and media arts programs. Also included is a cash management agreement between TCU and Mishawaka Schools.
The proposal was introduced and approved at the July 25 Mishawaka Schools board meeting and the agreement establishes TCU as the Official Financial Services Provider for the school district. The agreement goes into effect August 1, 2017.
In consideration for the gift, a revolutionary new learning environment coming to the district’s John Young Middle School will be named the TCU Innovation Lab. Students and the community will be invited to explore a wider range of technology including professional-standard software applications where learners will be encouraged to adapt, expand, connect and collaborate.
“Our commitment to communities, students and educators is unwavering,” said Paul Marsh, President and CEO of Teachers Credit Union, Indiana’s largest credit union. “We are especially excited about the TCU Innovation Lab where personalized learning and intrinsic motivation will engage students of all ages, interests and abilities.”
The cash management element of the agreement is as innovative as the Lab itself. It will increase interest earnings for Mishawaka Schools by approximately $10,000 per month or $1.2 million over 10 years. “Anytime we can earn additional dollars for our teachers and the educational programs we offer students, it is a win for the whole community,” said Dr. Theodore Stevens, assistant superintendent for curriculum and instruction.
Teachers Credit Union is also a longtime supporter of Mishawaka Schools as sponsor of its annual Teacher Recognition Dinner, athletics and is an authorized 403b provider.