August 23, 2001
First Union commits $50,000 to The Citadel
First Union Foundation has made a commitment of $50,000 to The Citadel to be used for unrestricted scholarships. Robert Hoak, president of First Union's Eastern N.C. Region and a 1978 graduate of The Citadel, made the announcement recently at the college. Hoak, who is also a member of The Citadel Foundation Board of Directors, said the gift will come to the foundation in five annual installments beginning in January.
"First Union Foundation is proud to support a college that had educated so many of employees and customers of First Union National Bank," Hoak said. Brantley D. Thomas, president of The Citadel Foundation, praised the commitment for the momentum it will give others to make unrestricted gifts to the college.
Unrestricted gifts, a top fundraising priority for The Citadel, will allow the college to target such urgent needs as student scholarships.
Maj. Gen. John Grinalds, president of the college, called the pledge a vital boost to help address scholarship needs. "We appreciate the support First Union has given The Citadel in the past with gifts for Vandiver Hall and a lecture classroom for the business department," he said. "This pledge continues an important tradition."
Len Hutchison, First Union Coastal Region President, joined Hoak in making the announcement.