WARRENSBURG — Equity Bank recently presented three University of Central Missouri students with the first Equity Bank IBE Adviser scholarships, expanding their continued support of UCM’s Integrative Business Experience.
Kelly Gilbert, Warrensburg market president for Equity Bank, and Greg Hall, vice president and commercial loan officer, presented the $500 scholarships to Jenna Palan, Tamra Shurm and Amanda Koenigsfeld. The three completed the IBE program last year and are returning to serve as advisers to the students enrolled in the program during the fall 2015 semester.
The Integrative Business Experience in UCM’s Harmon College of Business and Professional Studies provides students with a unique opportunity to learn about marketing by working within a team, known as a company, to develop and market a product, with profits benefitting a nonprofit organization chosen by the group.
As part of their marketing plan, students are required to apply for a loan to finance their venture. Equity Bank has provided support through the program for the past 11 years, with the IBE groups borrowing up to $5,000 per semester to be repaid through their profits. To date, Equity Bank has provided 62 IBE companies with a total of $125,000 in loan funding.
“After assisting the IBE program with loans for the past 11 years, Equity Bank is honored to increase its level of support with the student advisor scholarships,” Gilbert said.
Equity Bank initiated the IBE Adviser Scholarships for the fall 2015 semester to provide support for the first group of IBE advisers. IBE instructors select the advisers each semester from students who were standouts -more-
in their participation with an IBE company the previous semester. The IBE advisers serve as a liaison between the faculty and a resource for the IBE companies, based upon their own past experience.
Since its inception as part of the UCM curriculum in fall 2004, profits generated by UCM’s Integrative Business Experience companies have resulted in more than $300,000 in donations to local charities, and IBE students have generated more than 20,000 hours of community service.
To learn more about UCM’s Integrative Business Experience, visit ucmo.edu/ibe.
Release courtesy of University of Central Missouri