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February 25, 2005

Hibernia National Bank Partners with 91茄子 in the Establishment of an Endowed Professorship and Debit Card Program

Hibernia Bank Gives Total of $32,000 to 91茄子

The University of Louisiana at Monroe has a special partnership with Hibernia National Bank. Their affiliation allows students, faculty and staff of 91茄子 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 91茄子 Foundation, I have served on many boards as chairman," said Maddox. "I am convinced and convicted that 91茄子 and our city and region, go hand in hand," said Maddox.

The program Hibernia began with 91茄子 involves a collegiate debit card and a direct deposit program; 91茄子'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 91茄子's direct deposits. Hibernia's bid also included a free checking account and customized debit card for all 91茄子 faculty, staff and students. The 91茄子 debit card even boasts an image of the university's new 75th Anniversary logo. In addition, Hibernia agreed to pay 91茄子 $10 per every new account opened under this program. As of the end of 2004, 91茄子 personnel had opened 1,000 accounts.

91茄子 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 91茄子'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 91茄子 affiliates who opened new accounts at our bank, we gave them a voucher for $10 to use at the 91茄子 bookstore," said Maddox. Hibernia gave out over $10,000 in bookstore coupons.

As a result of this enhanced partnership, Hibernia's additional gifts to 91茄子 total $32,000.

The 91茄子 Foundation now manages 9 endowed chairs and 50 endowed professorships with assets totaling approximately $20 million. Each of 91茄子's four colleges are the beneficiaries of these funds.

For this and other 91茄子 news online visit www.ulm.edu. While there, check out 91茄子's on-line calendar for all of 91茄子's upcoming events.

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