USF Receives $1M Gift from USF Federal Credit Union, Elevating Longstanding Support

The University of South Florida today announced a more than $1 million gift, through a combination of scholarship endowments and title sponsorships of signature events, from USF Federal Credit Union.

Part of this gift includes the establishment of four endowments to provide scholarships for students in the Latino Scholarship Program, Black Leadership Network and College of Nursing, as well as a first-of-its-kind scholarship for student veterans. In addition, USF FCU has committed to serve as title or presenting sponsor of 10 of USF's signature events.

"The university is deeply grateful for USF Federal Credit Union's decades-long history of supporting our students, faculty and alumni through programming and scholarships across all campuses," USF President Rhea Law said. "This new gift continues our longstanding partnership and provides opportunities that will enhance the lives of our shared USF community."

Established in 1959, just three years after the university's founding, USF FCU has existed to help USF's faculty, staff, students, alumni and their families achieve financial security and success. USF FCU has grown from just $505 in assets then to more than $1 billion in assets today. Along with providing service to its more than 70,000 members, USF FCU supports a variety of organizations in the local community.

"As a financial cooperative owned and controlled by our members, these gifts have been made possible by our members," said USF Federal Credit Union CEO and President Richard J. Skaggs. "Supporting USF is just one way we live out our mission to give back to the community we serve."

"This gift supports key priority areas inherent in both of our organizations' core values and will bring great benefit to USF students and alumni for years to come," USF Foundation CEO Jay Stroman said. "We are thankful to Rick and his FCU