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February 25, 2005

Hibernia National Bank Partners with 海角社区 in the Establishment of an Endowed Professorship and Debit Card Program

Hibernia Bank Gives Total of $32,000 to 海角社区

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

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

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

As a result of this enhanced partnership, Hibernia's additional gifts to 海角社区 total $32,000.

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

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

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