University Federal Credit Union (UFCU) has partnered with the Austin Community College District (ACC) to create a new $5 million scholarship endowment, according to a press release.
The release said that the partnership underscores both parties’ commitments to promoting education and improving financial opportunities for the public.
UFCU President Michael Crowl said in the release that his financial institution is excited to take its relationship with ACC to another level.
“This scholarship program will provide all-inclusive support to hardworking students so they can focus on achieving their career aspirations through ACC,” Crowl said in the release. “We can’t wait to see the positive impact it will have on the communities we serve.”
The release explained that scholarship funds will be disbursed through five years to ACC students who participate in the UFCU Career Scholars program, adding that all tuition and fees are covered under the program.
As part of its agreement with ACC, the release said, UFCU also acquires naming rights to a new community pavilion that will be built at ACC’s Highland Campus in the north-central part of the city.
Officials said that the facility will open in the fall and will be able to host small, medium and large-scale special events.
ACC spokesperson Sydney Pruitt said in the release that the pavilion will be built on what was once a parking lot.
“We envision the park as part classroom, part living room, part gallery and part performance space,” Pruitt said. “The pavilion will be yet another way in which UFCU and ACC are bringing the community together in support of education.”
According to the release, UFCU plans to install ATMs and open branches at some ACC campuses.