US Bank (NSE: USB) Donates $1 Million to Ohio State University

U.S. Bank (NYSE: USB) has donated $1,050,000 to Ohio State University that will benefit the OSU’s student organizations and campus as a hole.

Ohio State will receive a name recognition on the university’s new conference theater when it opens on March 29^th, 2010. The 2,508 sq. foot “U.S. Bank Conference Theater” can accommodate up to 300 individuals for lectures and other special events held at the location. The theater also has a digital projector which will enable it to run first-run movies.

Tracy Vuck, assistant vice president f student life at OSU commented to the press that “We are so pleased to welcome U.S. Bank to the Ohio Union. It is especially fitting that U.S. Bank, which was founded in Ohio in 1863, will join us, because the building is a standing celebration of all that makes our state so special.” She continued, “The Union serves as the ‘living room’ for The Ohio State University by providing a space for guests to meet, dine, relax, study, and enjoy entertainment.”

“We are honored to support one of our finest educational institutions in the country, and showcase U.S. Bank in front of the thousands of people daily as they walk through the Union’s doors,” said Dave Sceva, the company’s market president for the Central Ohio area.

The donation by U.S. Bank includes a gift to the university’s Union and provides endowment funding that will benefit the university’s 900+ student organizations. The gift will be distributed over the next three years and U.S. Bank’s name will be recognized on the theater for at least 25 years.

U.S. Bank also announced that it plans on offering a full-service branch at the front of the Union to cater to Ohio State students, faculty and the community as a whole. The branch will be open standard business hours and will provide students with all of U.S. Bank’s banking services. U.S. bank will also place four ATMs throughout the new Ohio Union.