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Credit Suisse announces endowment with UNCF to fund scholarships for students attending North Carolina-based HBCUs

Credit Suisse is pleased to announce an initial commitment of USD 1.2 million to establish the Credit Suisse Scholars Program, an ongoing endowment with UNCF (United Negro College Fund) to fund scholarships for students attending historically Black colleges and universities (HBCUs) based in North Carolina.


This pledge reflects Credit Suisse’s ongoing commitment to diversity, equity and inclusion. It also builds on the bank’s long-standing relationship with North Carolina and the people and families of the Raleigh Community, where Credit Suisse established a presence over 15 years ago.

Eric Varvel, CEO of Credit Suisse Holdings USA (Inc.), said, “Part of our commitment to diversity and inclusion is to ensure we hold ourselves accountable for creating equitable access to opportunity. One way to do this is by expanding the pipeline of underrepresented talent. The scholarships we will provide for HBCU students will help them complete their degrees and better position them for competitive opportunities.”

“This is an incredibly generous gift from Credit Suisse to North Carolina residents,” said Dr. Michael L. Lomax, UNCF’s president and CEO. “We know that African American communities are disproportionately impacted by the lack of resources needed to go to college. Recognizing that need, Credit Suisse is providing a pathway for successful applicants to continue on their journey to attain a college degree.”

About Credit Suisse

Credit Suisse is one of the world’s leading financial services providers. Our strategy builds on Credit Suisse’s core strengths: its position as a leading wealth manager, its specialist investment banking capabilities and its strong presence in our home market of Switzerland. We seek to follow a balanced approach to wealth management, aiming to capitalize on both the large pool of wealth within mature markets as well as the significant growth in wealth in Asia Pacific and other emerging markets, while also serving key developed markets with an emphasis on Switzerland. Credit Suisse employs approximately 48,800 people. The registered shares (CSGN) of Credit Suisse Group AG, are listed in Switzerland and, in the form of American Depositary Shares (CS), in New York. Further information about Credit Suisse can be found at

About UNCF

UNCF (United Negro College Fund) is the nation’s largest and most effective minority education organization. To serve youth, the community and the nation, UNCF supports students’ education and development through scholarships and other programs, supports and strengthens its 37 member colleges and universities, and advocates for the importance of minority education and college readiness. UNCF institutions and other historically Black colleges and universities are highly effective, awarding nearly 20% of African American baccalaureate degrees. UNCF administers more than 400 programs, including scholarship, internship and fellowship, mentoring, summer enrichment, and curriculum and faculty development programs. Today, UNCF supports more than 60,000 students at over 1,100 colleges and universities across the country. Its logo features the UNCF torch of leadership in education and its widely recognized trademark, “A mind is a terrible thing to waste.”® Learn more at 

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