PALO ALTO, Calif. – Stanford FCU said last night it will donate $2 million to help pay for the 823,000-square-foot expansion of Stanford University Medical Center, the biggest credit union charitable gift ever.
“We strongly support the Hospital's mission to heal humanity through science and compassion," said Joan Opp, president of the $1.4 billion credit union, chartered to serve employees of the University.
The credit union was founded in 1959, the same year that Stanford Hospital moved from San Francisco to the Stanford campus. Hospital employees along with university faculty and staff were the credit union's original members. Students and companies that operate on Stanford property have since joined as well.
The pledge dwarfs the previous credit union record of $1 million donated last year by North Carolina State Employees’ CU's SECU Foundation to build a critical care hospice in Bolivia, N.C.
The Stanford FCU gift will be made over a four-year time frame, with an initial contribution of $500,000 in 2013.
