Historically, public universities in Alabama are often the backbone of community development. Whether in Huntsville, Tuscaloosa, or Mobile, public universities in Alabama have always had a central role in the growth of their surrounding communities, as well as the state as a whole.

Florence and the Shoals area are no exception to this historical precedent.

Bank Independent recently announced that the bank established an endowment fund at The University of North Alabama (UNA). The fund will provide a continued source of revenue for UNA that will focus on furthering the University’s goals for advocacy and community outreach to better serve the Shoals and North Alabama community.

“Economic development and community engagement are a key part of Bank Independent’s mission to make a positive difference in people’s lives, and a thriving university is necessary to support a vibrant, healthy, and growing community like the Shoals,” said Macke Mauldin, Bank Independent President. “My father, Edward Mauldin, was a firm believer in the power of education to change a person’s life. He was also fond of the quote, ‘A rising tide lifts all boats.’ We believe this endowment can change not only individual lives through the power of education but change the future of our community by amplifying the continued success of the University.”

The Bank Independent Leadership Fund will be the first endowment ever established at UNA. In a recent interview with UNA President Dr. Ken Kitts, he stated that UNA’s goal for the fund will be to specifically address his key initiative, Project 208.

Project 208 is a strategic initiative that focuses on allocating funds to meet budget shortfalls, provide for student scholarship needs, aid in tech and general upgrades to the campus, and further connect UNA to North Alabama’s community.

For Dr. Kitts, Project 208 has a very historical connection to UNA’s community outreach and funding.

“Historically, UNA has received far less in state funding on a per student basis than other universities in Alabama,” said Dr. Kitts.

In fact, Dr. Kitts noted that UNA is located farther from the seat of power in Alabama than any other public university, sitting approximately 208 miles away from the State House, where Project 208 derives its name.

“‘Out of sight, out of mind’ has become an unfortunate political reality for UNA in annual budgetary decisions. Currently, the University receives between $7 million and $12 million less per year than peer schools of comparable or smaller size. This overview helps contextualize the importance of the Bank Independent Leadership Endowment,” said Dr. Kitts.

In the past, UNA has been dubbed “Alabama’s Workforce Development University,” and for Dr. Kitts, the endowment helps UNA to continue to provide consistent education, advocacy, and outreach that furthers “our commitment to assist industry and prepare students to meet the needs of the new economy in Alabama.”

Besides decreasing the funding equity gap, UNA’s partnership with Bank Independent also represents a major opportunity for community development in North Alabama.

“Although founded in the Shoals, UNA has expanded its scope to provide services to communities and businesses across the northern tier of the state,” said Dr. Kitts. “Significantly, Madison is now our second largest feeder county for students, and Morgan, Limestone, and Jefferson are also in our top six counties for enrollment. We are aggressive in our educational outreach and have signed learning agreements with major employers in the Huntsville area as well as with the State of Alabama itself.”

In this way, Bank Independent’s endowment will help empower UNA to continue to expand outside of the Shoals area, connecting with interested students from the great Huntsville-Madison County area either remotely or in person.

When asked about the most important outcome of this partnership, Dr. Kitts replied that Bank Independent’s endowment will help the university better serve the people of North Alabama.

“For this past fall semester, 85 percent of our freshmen came from Alabama, and 75 percent of our graduates decided to stay in state for their careers. Those are impressive numbers, and they speak to the focus and priorities of the University of North Alabama.

“Our partnerships with communities, businesses, and nonprofits underscore our mission of service as well as our determination to enhance the quality of life for Alabama’s citizens. Bank Independent knows we will be good stewards of this endowment, and we want other community leaders and organizations to follow their example in working with us to support students and communities across northern Alabama.”