COLUMBUS, Ohio--(BUSINESS WIRE)--Slam dunks and fast breaks won’t be the only things fans will witness at the Schottenstein Center tonight when Ohio State’s men’s basketball team takes on the Northwestern Wildcats.
“Our partnership with Ohio State is working as evidenced by the new revenue stream we are creating together”
During the game, Huntington Bank’s chairman and CEO will present Ohio State President E. Gordon Gee with a $1 million check for academic programming and scholarships, making for a total of $26 million given to the school by Huntington over the past year. The check was generated as the result of the early success of the Huntington-Ohio State partnership, which is celebrating its one-year anniversary.
Last February, Huntington and Ohio State launched a $125 million, 15-year partnership that made Huntington the university’s Official Consumer Bank and included $25 million to the university for academics, athletics, the alumni association and student life. In turn, Huntington obtained exclusive rights to market financial products and services to more than 600,000 students, faculty, staff and alumni.
The agreement also provided for additional revenue to be generated annually based on the number of Ohio State student, faculty and staff who have chosen to bank with Huntington. The bank also committed to more ATMs, and branches on campus as well as $100 million in investments and lending to the University District and Near East Side. Already, more than $20 million in loans has been made to community development groups and businesses in that area.
“We are delighted to celebrate the first year of our extraordinary partnership with Huntington, which has wholly exceeded our expectations,” said Gee. “Thanks to this collaboration, we are able to enrich the student experience and our academic programs in myriad ways. I am grateful to Huntington for investing in our University’s core purpose of educating young people and enhancing our community.”
Over the summer months as part of the partnership, Huntington hired 35 OSU student interns –15 more than promised – giving students valuable learning and mentoring experiences. The internships were in departments throughout Huntington and were geared toward helping students as they prepare to enter the job market. Huntington has committed to 20 paid internships for each year of its 15-year partnership.
“Our partnership with Ohio State is working as evidenced by the new revenue stream we are creating together,” said Steinour. “We applaud Ohio State for entering this innovative partnership with us. With the additional funds, Ohio State can continue to educate the next generation and fund its strategic investments. We look forward to working with the university for many years to come.”
Also over the past year, Huntington has added 12 ATMs as well as two new branches on the Columbus campus. Eventually, Huntington will add two additional branches on main campus in the Wexner Medical Center. Huntington also is supporting new financial literacy programs with the university’s Student Wellness team.
Huntington Bancshares Incorporated is a $56 billion regional bank holding company headquartered in Columbus, Ohio. The Huntington National Bank, founded in 1866, provides full-service commercial, small business, and consumer banking services; mortgage banking services; treasury management and foreign exchange services; equipment leasing; wealth and investment management services; trust services; brokerage services; customized insurance brokerage and service programs; and other financial products and services. The principal markets for these services are Huntington’s six-state banking franchise: Ohio, Michigan, Pennsylvania, Indiana, West Virginia, and Kentucky. The primary distribution channels include a banking network of more than 700 traditional branches and convenience branches located in grocery stores and retirement centers, and through an array of alternative distribution channels including internet and mobile banking, telephone banking, and more than 1,300 ATMs. Through automotive dealership relationships within its six-state banking franchise area and selected other Midwest and New England states, Huntington also provides commercial banking services to the automotive dealers and retail automobile financing for dealer customers.
About The Ohio State University
Founded in 1870, The Ohio State University is a world-class public research university and the leading comprehensive teaching and research institution in the state of Ohio. With more than 63,000 students (including 56,000 in Columbus), the Wexner Medical Center, 14 colleges, 80 centers, and 175 majors, the university offers its students tremendous breadth and depth of opportunity in the liberal arts, the sciences, and the professions.