Rockville Centre, NY (December 9, 2024) |
Ocean Financial Federal Credit Union (OFFCU) opened a first-ever mini-branch located at Molloy University this week, designed to support student and employee account holders and educate students on financial literacy, this is the latest outcome of an ongoing and impactful partnership between both institutions.
Ocean Financial is in the second year of a 5-year commitment of $500,000 to Molloy University to support general scholarships, internships and student programs, some specifically targeting the growing Hispanic student population at Molloy. Earlier this year, Molloy was recognized as a Hispanic Serving Institution (HSI), defined by the Department of Education as having a full-time equivalent of undergraduate student enrollment that is at least 25 percent Hispanic. The donation is the University’s largest corporate gift, ever.
“This helped support students through scholarships and other programs, and we are grateful,” said James P. Lentini, Ph.D., President of Molloy University. “It is an amazingly generous gift by Ocean Financial and the largest corporate gift we’ve ever received. It will especially help support students from the growing Hispanic community on Long Island, which is a growing part of our student body.”
Ocean Financial also announced a donation of $5,000 to Molloy for its Giving Tuesday campaign in support of the Student Success Fund. This Fund ensures that Molloy students have access to the support and resources needed to complete their education and/or address unexpected challenges that may stand in their way.
The announcement was made at the opening of the new Ocean Financial Federal Credit Union mini branch, located in the Public Square at Molloy University. The branch is staffed four days a week by student workers and includes an ATM.
“We’re very focused on financial education and it's a great opportunity for us to start to educate some of the students very early in their lives to be able to get on the path to financial well-being,” said Joe Tedesco, President and CEO of Ocean Financial Federal Credit Union. “There's nothing better than being part of the community and so I consider this branch to be part of the community. It’s an opportunity to sit down face to face with students to give them the education and the answers to the financial questions they have.”
