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| For Release: Immediate |
Contact: Chancy M. Kapp |
| Date: April 14, 2000 |
(919) 733-7051, ext. 302 |
BB & T Corporation Gives $200,000 to North Carolina Community Colleges Foundation
RALEIGH -- BB & T Corporation has pledged $200,000 to the Capital Campaign of the North Carolina Community Colleges Foundation.
The announcement comes from Kelly S. King, President of BB & T Corporation, and from J. Gregory Poole Jr., chairman of the Board of Directors of the North Carolina Community Colleges Foundation.
In making the announcement, King, a member of the Foundation Board, said,
"BB&T is proud to support the important mission of the North Carolina Community Colleges Foundation. North Carolina's community college system plays a critical role in the vocational training and technical education of our students and thereby makes a significant contribution to the state's economy."
Poole responded enthusiastically to the generous pledge. "BB & T is one of our state's great success stories, and we are so delighted that the company understands how valuable North Carolina’s community colleges are to our growing financial industry and the struggles the community colleges face due to rapid growth and changes in industry standards. This is a wonderful example of excellent corporate citizenship."
BB&T Corporation, headquartered in Winston-Salem, N.C., is a fast growing, highly profitable multi-bank holding company with $45.5 billion in assets. Its bank subsidiaries operate more than 687 branch offices in the Carolinas, Virginia, West Virginia, Kentucky, Georgia, Maryland and Washington, D.C. BB&T ranks No. 2 in market share in North Carolina, No. 3 in South Carolina, and No. 6 in Virginia
The Foundation was formed in 1986 to help sustain the mission and programs of the North Carolina Community College System. After several dormant years, the Foundation was reorganized in 1998 under the leadership of H. Martin Lancaster, President of the North Carolina Community College System, and Lt. Governor Dennis A. Wicker, who was then chairman of the State Board of Community Colleges. Governor James B. Hunt, Jr. and President Lancaster recruited Gregory Poole to head the new Board of Directors, whose members now include top leadership from business and industry, philanthropy, education and government.
The Foundation is conducting a capital campaign to raise at least five million dollars for an endowment to fund system wide efforts on behalf of community colleges. Endowment income will be used to improve the effectiveness of the System; promote the benefits of community colleges; and educate, reward and motivate executive leadership and faculty to lead North Carolina's community colleges into becoming the most effective, efficient educational institutions in the nation. As of March 2, the Foundation has raised more than $2.5 million in pledges and contributions.
The North Carolina Community College System, with more than 747,000 students, is the third largest community college system in the United States. It includes 58 comprehensive community colleges and the North Carolina Center for Applied Textile Technology. The System is the state’s primary agency for delivery of job training, literacy and adult education programs.
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