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Reaching new heights: Historic Rollins College achieves goals with help from Synovus
When Rollins College, the oldest recognized college in Florida, decided to grow, the leadership turned to Synovus for guidance in financing their future.
Founded by New England Congregationalists in 1885 as Florida's first college, Rollins remains the premier private liberal arts college in Florida. But to stay strong and capitalize on their growth — and based on a campus-wide strategic planning process — college leaders realized they needed to invest in campus buildings as well as in their students.
First, to free up some funds for growth, the college worked with the bank to take advantage of historically low interest rates by refinancing a $35 million non-taxable bond in 2017.
In 2018, the bank provided a $65 million facility loan to the college, allowing them to embark on a historic change. The loan, also non-taxable, is providing construction financing for a new student center, a new dance and theater facility, and 503-room residential apartment complex for students.
"The bank provides efficient, friendly customer service and all the abilities of a large national bank but with small-town service."
"The interest rates and repayment terms allowed the college flexibility to take these projects on, and the savings generated from refinancing prior debt contributed to the college's ability to embark on such historic projects," says Rollins College President Grant H. Cornwell.
In March 2018, Synovus was named the official bank of Rollins College.
"We're in the business of higher education, not banking," Cornwell says. "We rely on the professionals at our bank to help us navigate the banking world," he adds, as well as keep him up-to-date on changes in his industry.
Cornwell says consistency in the staff at his local branch is important, and continuing to see the same team he's come to know gives him confidence in his banking relationship and continuity of service.
"In this case, Synovus has maintained the entire staff at our local Winter Park branch, so the college is still benefiting from the great level of customer service offered by our local partners," he says.
If you're looking for a bank that shares an appreciation of outstanding customer service, give us a call at 1-888-SYNOVUS (1-888-796-6887) or find a Synovus location near you and stop by in person.