CU’s $1 Million Gift Supports Higher Education in Banking, Cybersecurity
Commonwealth CU helps fund Eastern Kentucky University financial services, fintech and cybercrime programs.
The leaders of the $2 billion Commonwealth Credit Union in Frankfort, Ky., want new college grads to be prepared to professionally fight cybercrime at local financial institutions – so much so that they recently gave $1 million to support Eastern Kentucky University (EKU) programs in the subject area.
The $1 million gift will help fund the university’s Evans Banking and Financial Services program as well as the creation of a new certificate program in Financial Technology and Cybercrime, according to an announcement from the credit union Thursday. Commonwealth noted that due to rising fraud and cybercrime targeting community financial institutions nationwide, the need for financial services industry professionals who specialize in financial technology, financial forensics and cybersecurity is greater than ever.
“I’m honored to announce our $1 million gift that will help equip the next generation of graduates as they enter the workforce,” Commonwealth President/CEO Karen Harbin stated. “While this donation will help launch the Financial and Cybersecurity certification program, it’s also an investment in keeping our best and brightest right here in Kentucky as they begin their careers. I’ve been where these students are, and as a proud EKU Alumna, this opportunity is one that is near and dear to my heart.”
The gift was unveiled during an event featuring Harbin, EKU President Dr. David McFaddin and Rep. Andy Barr (R-Ky.) on April 12 in the EKU Business and Technology Center Atrium. In recognition of the credit union’s gift, the Learning Commons at Eastern Kentucky University’s Stratton Building will be renamed the Commonwealth Credit Union Learning Lounge, according to the announcement.
“We are excited to announce this transformative gift from Commonwealth Credit Union,” McFaddin stated. “Their generous investment will make a difference for generations of students and provide talented graduates to meet the workforce needs of the financial sector. EKU is proud to collaborate with CCU and offer innovative solutions in this critical field of study.”
According to the 2022 Cybersecurity Workforce Study from cybersecurity professional organization (ISC)2, the cybersecurity talent gap grew twice as much as the workforce last year – despite the addition of 464,000 cybersecurity jobs, there is a global shortage of 3.4 million cybersecurity professionals.