Butler University and Old National announce partnership to support businesses owned by underrepresented groups
Evansville & Indianapolis, Ind. (August 12, 2020) – The Old National Bank Center for Business Excellence—a partnership between Butler University and Old National Bank—is proud to announce an initiative geared toward strengthening and supporting businesses owned by underrepresented groups throughout Indiana.
The Old National Bank Center for Business Excellence at Butler University (ONB Center), which was established to connect privately held companies with the resources and support they need to succeed, will waive its annual membership fee of $1,000 for the first year for companies that meet the following criteria:
- Privately held companies, headquartered in Indiana, with majority ownership (51% or more) by an underrepresented population. This includes the following business owner categories: all people of color; women; LGBTQ+ individuals; veterans; and individuals with disabilities
- Annual revenues between $1 million and $50 million. Companies with revenues less than $1 million will be referred to the Small Business Development Center to better match needs and resources.
This initiative was born out of a conversation between Mark McFatridge, executive director for the ONB Center, and Butler student Victor Aguilar, an intern at the Center. Shortly after the death of George Floyd in Minneapolis, Aguilar approached McFatridge to ask whether the ONB Center would be issuing a public statement related to the situation. “It was simply a question to see if we were going to release anything official, and that sparked the development of this program,” explained Aguilar. “I never imagined this outcome.”
“It’s no surprise that this initiative was sparked by the social consciousness and passion of one of our Butler students,” said Butler President, James Danko. “Furthermore, I applaud the ONB Center’s executive director, Mark McFatridge, for his efforts to foster such student leaders as well as an innovative and socially responsible initiative such as this. Victor, Mark, Old National Bank, and our partners are among many throughout the University who are working diligently to live Butler’s mission both on our campus and in the community.”
Old National Chairman and CEO Jim Ryan said this initiative is a logical extension of the ongoing partnership between Old National and Butler. “This is absolutely the right thing to do to support Indiana’s underrepresented business owners and the clients they serve,” said Ryan. “We are incredibly proud to partner with Butler on this program.”
Phased Program Roll-out
To ensure that the ONB Center can appropriately service the potential demand, the initiative will be rolled out in phases. However, demand from business owners may cause the Center to adjust these dates.
- Phase One (August 12, 2020 – July 31, 2021): focus on Black-owned businesses in Marion County\
- Phase Two (January 1, 2021 – December 31, 2021): focus on all businesses owned by people of color and headquartered in Indiana
- Phase Three (July 1, 2022 – June 30, 2022): focus on women- and LGBTQ+-owned businesses headquartered in Indiana
- Phase Four (January 1, 2022 – December 31, 2022): focus on businesses headquartered in Indiana and owned by veterans or individuals with disabilities
Upon registering for the initiative here, ONB Center member companies will receive the following:
Old National Bank Center for Business Excellence – Official Statement Condemning Racism While Providing Assistance
The Old National Bank Center for Business Excellence is a partnership between Butler University and Old National Bank, two of Indiana’s longest standing and most respected institutions. The partnership was established to assist privately held companies in achieving their goals. This assistance is based on connecting member companies to resources necessary to achieve those goals.
While the ONB Center does not discriminate in who we serve, we have not placed the appropriate focus and attention on seeking out member companies owned or managed by the underrepresented populations that help make Indianapolis and the state of Indiana great.
Butler University and Old National Bank condemn racism and hold the fundamental belief that our respective services should be available to all—regardless of race, gender, religion, ability, or sexual orientation.
ABOUT BUTLER UNIVERSITY
Butler University is a nationally recognized comprehensive university encompassing six colleges: Arts, Business, Communication, Education, Liberal Arts & Sciences, and Pharmacy & Health Sciences. Approximately 4,600 undergraduate and 800 graduate students are enrolled at Butler, representing 45 states and 30 countries. More than 75 percent of Butler students will participate in some form of internship, and Butler students have had significant success after graduation, as demonstrated by the University’s 98 percent placement rate within six months of graduation. The University was recently listed as the No. 1 regional university in the Midwest, according to the U.S. News & World Report Best Colleges Rankings, in addition to being included in The Princeton Review’s annual “best colleges” guidebook.
ABOUT OLD NATIONAL
Old National Bancorp (NASDAQ: ONB), the holding company of Old National Bank, is the largest bank holding company headquartered in Indiana. With $22.1 billion in assets, it ranks among the top 100 banking companies in the U.S. and has been recognized as a World’s Most Ethical Company by the Ethisphere Institute for nine consecutive years. Since its founding in Evansville in 1834, Old National Bank has focused on community banking by building long-term, highly valued partnerships and keeping our clients at the center of all we do. This is an approach to business that we call The ONB Way. Today, Old National’s footprint includes Indiana, Kentucky, Michigan, Wisconsin and Minnesota. In addition to providing extensive services in retail and commercial banking, Old National offers comprehensive wealth management, investment and capital market services. For more information and financial data, please visit Investor Relations at oldnational.com.