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People's Bank Enters Partnership With UConn and the State (Released: 10/04/01)

Office of University Communications

STORRS, Conn. -- People's Bank has pledged more than $500,000 to the University of Connecticut in a new effort to support secondary education initiatives and to develop a well-trained workforce in the state. It is the largest donation from a bank in the history of the University, and among the largest by People's Bank to any institution of higher learning.

"As Connecticut's bank, we think it's important to form a partnership with Connecticut's flagship university," said John A. Klein, People's president and chief executive officer, in announcing the donations. "It's the duty of business to help keep the best and brightest here in our state. Supporting UConn is supporting the economic viability of our state."

Through the comprehensive effort, called "A Partnership to Nurture Connecticut's Future," People's is targeting several areas that will have a positive impact on the strength of Connecticut's workforce. These contributions will fund programs in the College of Liberal Arts & Sciences, as well as the School of Business, the Neag School of Education and the School of Medicine.

"Connecticut faces a productive future, but that future depends on preparing young men and women who are ready to meet global competition. People's Bank's investment underscores the expectation that every dollar invested in UConn will help generate a highly skilled workforce and an enriched state economy," says Philip E. Austin, president of UConn.

A large portion of UConn alumni live in Connecticut and the majority of current UConn students hail from the state. People's is providing funds to develop and enhance programs that will touch UConn students, Connecticut school children and, ultimately, improve the state's quality of life.

People's pledge will support a number of initiatives, including:

  • The nationally recognized, comprehensive school reform program at the Neag School of Education. People's support will bring this program to schools across Connecticut, working to improve education and ready thousands of children.
  • The UConn Health Center's model program for introducing pre-collegiate students from under represented populations to opportunities in the health care professions. People's gift will help electronically link area schools with Health Center resources and provide summer research fellowships, allowing promising students to work with distinguished scientists.
  • A program to pay students in the College of Liberal Arts & Sciences a stipend for internships at non-profit and government agencies that cannot afford them. This will allow students who could not sacrifice a summer or semester of paid employment to gain experience, while providing additional staff to these agencies and their clients.
  • The UConn Family Business Center, which focuses on the unique needs of the family business, including succession planning, staffing and leadership.
  • The Family Business Center will sponsor an annual award named for Louis H. Ulizio and People's bank. Ulizio, a founder of the Family Business Center, recently retired as executive vice president of commercial banking, at People's.

"People's is proud to take a leadership role in this partnership," Klein said. "The quality of education offered by UConn will continue to have a direct impact on Connecticut's workforce, and our state's economy as a whole."

People's (peoples.com) is a diversified financial services company providing commercial, consumer, insurance and investment services. Founded in 1842, it is the largest state-chartered bank in Connecticut with managed assets of $14 billion, 142 branches and approximately 220 ATMs. People's is a leader in consumer and commercial banking, residential lending, insurance sales and supermarket banking. A leading credit card issuer, it ranks 16th nationally as an issuer of MasterCard and Visa credit cards. People's subsidiaries offer brokerage services, asset management, equipment financing and leasing, and insurance services.

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