The CFE Federal Credit Union announced its commitment to donate $1.5 million to UCF Downtown on Monday, Jan 4.
This comes only two weeks after the first $1.5 million donation from the Orlando Magic. The money will go toward the construction of the academic building that is set to be the focal point of the new campus.
“The UCF Downtown campus will provide significant opportunities for Central Florida, and CFE is proud to support an initiative that will have such a meaningful impact on both a local and national scale. By investing in education, we can create a positive future for our community,” said Joseph A. Melbourne, Jr., president and CEO of CFE Federal Credit Union, in a press release.
The new academic building will be 165,000 square feet and will complement a renovated Center for Emerging Media near the Florida Interactive Entertainment Academy. The entire downtown campus is being funded in thirds; $20 million from the state, $20 million from private donors and $20 million from the university.
CFE began making a name for itself on UCF main campus back in 2011 when it acquired the UCF Federal Credit Union. When the arena became the CFE Arena in 2013, CFE became the official financial institution for the UCF Knights.
“We have remained firmly rooted in our commitment to education, and our involvement with UCF Downtown will allow us to continue to support financial literacy efforts. Our goal is to provide students, faculty and community members with the necessary resources to make better financial management decisions,” Melbourne said.
The campus is set to open fall 2018 and cater to at least 7,700 UCF and Valencia students.
Alissa Smith is the News Editor for the Central Florida Future. Follow her on Twitter at @thealissasmith or email her at AlissaS@centralfloridafuture.com.