First Fidelity Bank Awarded for Partnership with OU College of Business

First Fidelity Bank has been named winner of the 2007 BKD Award for Excellence and Innovation for its 12-year partnership in the Integrated Business Core program at the University of Oklahoma’s Michael F. Price College of Business.
%9
Co-sponsored by The Oklahoma Bankers Association and BKD, LLP, one of the 10 largest CPA firms in the country, the award recognizes high performing banks and thrifts that make extraordinary use of innovative ideas to demonstrate commitment to their employees, customers, shareholders and community. First Fidelity is the inaugural recipient of this award in the state of Oklahoma.
%9
The award will be presented Tuesday, June 12 at the Oklahoma Bankers Association’s annual conference at the Oklahoma City Renaissance Hotel.%9
%9
Students in the program are required to create and manage a start-up company and a community service project. They must prepare a complete business plan to present to a loan officer at First Fidelity, who can loan them up to $5,000. Students operate their businesses for seven weeks, and the profits earned from the start-up company are used to finance the community service project.
%9
“First Fidelity’s support builds a bridge between textbooks and the rigors of the banking world, affording our students life-changing experiences,” said Kenneth R. Evans, dean and Fred E. Brown chair of OU’s Michael F. Price College of Business. “Not only does it give them that real-world education about starting, operating and building a business, it teaches them the importance of community service.”
%9
The success of the program has been felt within Oklahoma communities as well as in the classroom. The IBC student companies – selling everything from t-shirts to posters, hot dogs and DVDs – have always made a profit. The program has earned more than $1 million in revenue, and more than $661,000 raised by these student companies has gone to various charities. Overall, the students have spent more than 21,500 hours contributing their time and efforts to local schools, children’s programs, blood banks, animal reserves and other charities like Habitat for Humanity and the Make-A-Wish Foundation.



Was this article helpful?

Related Articles

Leave A Comment?