Archived News | Return to News Center

February 25, 2005

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

Hibernia Bank Gives Total of $32,000 to ULM

The University of Louisiana at Monroe has a special partnership with Hibernia National Bank. Their affiliation allows students, faculty and staff of ULM 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 ULM and our city and region, go hand in hand," said Maddox.

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

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

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

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

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

PLEASE NOTE: Some links and e-mail addresses in these archived news stories may no longer work, and some content may include events which are no longer relevent, or reference individuals and/or organizations no longer associated with ULM.