When PNC Bank signed an agreement to become The University of Akron’s official financial institution, bank officers also had another thought: They wanted to create more than just a commercial relationship with the University.
On August 23, PNC Bank took the first step in making good on that desire by donating a $500,000 signing bonus to fund scholarships, leadership programming, and additional fundraising at UA – all in an effort to support student success.
“PNC has become a true partner in the University’s educational mission,” said University of Akron President Luis Proenza, who spoke during the check presentation, and he called the seven-year agreement between the University and the bank one that “exemplifies the Akron Experience and its inclusion of community partners.”
PNC, in fact, hopes to help students develop stronger money management skills and will offer onsite workshops on topics such as personal financial management and financial literacy. The bank also is investing funds to renovate the banking area in the Student Union and expects its new relationship with the University – which includes access to thousands of new customers and the University’s business network – to generate funds that will help reduce Student Union operating expenses, keeping student fees lower.
PNC Bank’s extraordinary charitableness is due in large part to loyal alumnus Kevin Thompson, regional president for PNC Bank in Akron. The Akron native and 1975 graduate, who earned a B.S. in labor economics, is a longtime University supporter and served as a UA trustee from 2007 to 2010. He currently is a board member with the Greater Akron Chamber.
"As the largest bank in Ohio, PNC is already a trusted member of the Akron community, as well as the communities that students and staff call home," said Thompson, “and we look forward to providing tools and education to the University family to help them make smart financial decisions."
“The University of Akron is delighted to engage with its dedicated alumnus and looks forward to a long and harmonious relationship with PNC Bank,” added Proenza. “I am hopeful that PNC’s example inspires other businesses and industry to collaborate with the University in a win-win-win arrangement – benefitting our partners, our institution, and, most importantly, our students.”
PNC maintains a presence in Northeast Ohio through ongoing support of the area’s leading cultural institutions and economic development. The bank offers advice and financial solutions to the entire region through its retail banking team at more than 110 local branches. PNC Bank, National Association, is a member of The PNC Financial Services Group, Inc. (NYSE: PNC). PNC (www.pnc.com) is one of the nation’s largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management and asset management. Follow @PNCNews on Twitter for breaking news, updates and announcements from PNC.