Truist Financial: Ridley Scholarship Program Announces $ 1 Million Donation from Truist Wealth

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CHARLOTTESVILLE, Virginia and CHARLOTTE, North Carolina (September 8, 2021) – The Walter N. Ridley scholarship program and the University of Virginia Alumni Association announced today that Truist Wealth has donated $ 1 million to the honor of corporate and philanthropic leader S. Buford Scott and Scott & Stringfellow. The donation establishes a fully endowed Ridley scholarship for the full state tuition of a young black academic at AVU as well as Truist-Ridley Leadership and Financial Education Academy training, for the benefit of black students of second and third years up. .

Buford Scott served from 1974 to 2018 as Chairman of the Board of Directors of Richmond-based Scott & Stringfellow, previously a wholly owned subsidiary of BB&T Corporation. BB&T Corporation merged with SunTrust Bank in 2019 to form Truist Financial Corporation (NYSE: TFC), and in 2021, the Scott & Stringfellow name was retired.

Scott has been twice appointed to the AVU Visitors Council as well as a member of the Alumni Association Board of Directors. He chaired the merit-based Jefferson Scholars program, which, like the Ridley program, provides scholarships and programming support to attract the best and brightest students to AVU.

“This generous gift from Truist Wealth will fund a scholarship for one deserving student as well as financial education for many others,” said AVU President Jim Ryan. “This is a fitting tribute to Buford Scott, a true citizen and UVA leader whose legacy as champion of opportunity is reflected in this unique partnership.”

A new scholarship to advance diversity, equity and inclusion

The Buford Scott Ridley Scholarship, a four-year renewable merit scholarship, will be awarded to a black student from Virginia and will cover tuition, accommodation and meals, as well as a strong programmatic background in the academy. : The Ridley Scholar Experience, which includes unique opportunities for leadership, professional training and immersive experiences. The first student to receive the Buford Scott Ridley scholarship will begin his studies at AVU in the fall of 2022.

“Buford has had many passions in his life, including his family, his education, his equity and the University of Virginia,” said Joseph M. Thompson, director of wealth management at Truist. “The Buford Scott Ridley Fellowship honors the causes championed by Buford, leaves a lasting legacy for the Scott family and the business they helped build, and demonstrates Truist’s commitment to diversity, equity and inclusion. We look forward to the incredible things Fellows and Academy participants will achieve at AVU, as well as in their lives and careers.

The scholarship will be administered by the Ridley Scholarship Program team at the UVA Alumni Association. The selection criteria for the Buford Scott Ridley Fellow will be in line with the current Ridley Program evaluation standards for high academic achievement, exceptional leadership and community engagement.

Financial and professional education take center stage

The impact of this donation will also benefit growing second and third year black students through the launch of a financial and career education pilot program funded by Truist Wealth. The Truist-Ridley Leadership and Financial Education Academy will partner with the Truist Leadership Institute, the Ridley Scholarship Program, and the UVA Career Center to provide cohorts of black students with classroom and learning experiences spanning leadership and career potential in financial services, technology, consulting, and related fields.

The program will provide students with the opportunity to learn from Truist leaders and the award-winning faculty of the Truist Leadership Institute. It will also introduce Truist students to the company’s commitment to diversity, equity and inclusion, as well as opportunities in the financial services industry.

For Truist, this collaboration is a remarkable way to connect with high quality students in an authentic setting and to increase awareness of the opportunities Truist is committed to providing.

The Ridley Scholarship Program and the UVA Alumni Association will work with the UVA Career Center to develop selection criteria for the program, which will include, but not be limited to, the Ridley Scholars. The Academy’s first program will take place during AVU’s January 2022 trimester, followed by a May 2022 program. The program will support two cohorts of 20 to 25 students each year, for a total of up to 100 students over a two-year period.

“We are incredibly grateful that Truist Wealth has chosen the Ridley Fellowship Program as a partner to honor Buford Scott and create the Academy, the first program of its kind at the University. Truist Wealth’s historic donation will help the Ridley Scholarship Program attract outstanding students to college, and ensure our students have the opportunity to participate in innovative leadership and financial education programs that will help them prepare for their postgraduate and professional. lives, ”said Consuelo Kendall, chair of the Ridley scholarship program.

Scott championed racial and community equity through access to education and financial literacy. He co-founded the Virginia Council on Economic Education and supported its work for over 50 years. He designed the “Stock Market Game,” which has become a staple of financial education for Virginia public elementary school children. He also founded Elk Hill, a non-profit organization that manages residential and health services for at-risk and low-income children through special education, community services and residential treatment programs in across the Commonwealth. He has been involved in many other programs to help at-risk children and promote their education, including faith-based projects in the Richmond area.

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About the Ridley Fellowship Program

Established in 1987, the Walter N. Ridley Fellowship Program is named after the University of Virginia’s first black graduate. The program, which aims to attract black students of the highest academic caliber, has awarded more than 300 scholarships and held assets of $ 14.2 million in the past fiscal year. The Ridley scholarship program is administered by the UVA Alumni Association.

About Truist

Truist Financial Corporation (NYSE: TFC) is a purpose-built financial services company committed to inspiring and building better lives and communities. Formed by the historic merger of BB&T and SunTrust equals, Truist has a leading market share in many high growth markets across the country. The company offers a wide range of services, including retail, small business and corporate banking; asset Management; capital markets; commercial real estate; corporate and institutional banking; Assurance; mortgage; Payments; specialized loans; and wealth management. Based in Charlotte, North Carolina, Truist is one of the top 10 US commercial banks with total assets of $ 522 billion as of June 30, 2021. Truist Bank, member of the FDIC. Learn more about Truist.com.

Disclaimer

Truist Financial Corporation published this content on September 08, 2021 and is solely responsible for the information it contains. Distributed by Public, unedited and unmodified, on 08 September 2021 04:21:05 PM UTC.


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