College of Business and Information Science receives $50,000 scholarship for students
TUSKEGEE, Ala. (June 23, 2011) — Alabama Power and the family of late businessman James W. Wright today presented Tuskegee University with $50,000 to establish scholarships to be awarded to eligible students in the College of Business and Information Science. Alabama Power initiated the endowment with $25,000; Wright’s family matched the gift.
The scholarship is named in the memory of Wright, past president of First Tuskegee Bank and former member of the boards of Tuskegee University and Alabama Power, respectively. The scholarship will be awarded to students majoring in finance or economics.
“My father was connected to this fine university for 20 years,” said Neill S. Wright, current president and CEO of First Tuskegee Bank. “He transformed an institution that was formed on this campus. He would have wanted this scholarship to go to Tuskegee. He benefited from an HBCU (Historically Black Colleges and Universities) himself, as a graduate of Lincoln University. He felt it was important to promote the mission of HBCUs.”
First Tuskegee Bank began as Tuskegee Cooperative Building and Loan Association. The institution, chartered in 1894, was housed in a classroom on the campus of Tuskegee Institute (now University). After a number of other managing agencies and name changes, Wright bought the banking institution in 1991. He expanded operations to Montgomery in 1993.
“Mr. Wright made so many contributions to the community and resurrected one of the oldest black banks in the U.S.,” said Tuskegee University President Gilbert L. Rochon. “He is an integral part of our history.”
Kenneth Coleman, vice president for Alabama Power’s southern division echoed Rochon’s sentiments, citing a resolution the company composed after Wright’s death. The company contributed to the building of the College of Business and Information Science in 2006.
“We are proud to partner with the university in providing this scholarship,” Coleman said. “We look forward to the future.”
From left, Tejinder Sara, dean of the College of Business and Information Science; Neill S. Wright, president and CEO of First Tuskegee Bank; Kenneth Coleman, vice president of the Alabama Power southern division; Tuskegee University President Gilbert L. Rochon; and Leigh Perry, president of the Alabama Power Foundation.