Valley Strong pledges $1 million to CSUB for a research fellowship

Funds will allow research projects to grow Kern County economy

By California State University, Bakersfield

April 20^th, 2021

Valley Strong Credit Union has pledged $1 million to California State University, Bakersfield to establish an endowment, which will create a rotating fellowship for research projects related to the economic growth and prosperity of the Kern County region.

“CSUB is a vital part of the community. The opportunity to get a good education means economic opportunities for everybody,” said Steve Renock, Valley Strong’s President/Chief Executive Officer. “Valley Strong’s history is rooted in the educational community.”

This three-year award will allow a faculty member and a student to collaborate together and ultimately benefit the regional economy.

“Valley Strong Credit Union’s generous gift will unlock the ingenuity and imagination of our students and faculty to move our economy forward into new frontiers,” said CSUB President, Dr. Lynnette Zelezny. “We are emerging from a time of isolation and uncertainty into an era of promise and hope. We will need new thinking and new ideas grounded in research for our region to align with economic opportunities to thrive. Valley Strong Credit Union gives us the power to actively apply economic research to grow prosperity in our community. Thank you for your belief in `Runner research and innovation!”

The fellowship will be competitive. Faculty from across the disciplines will be given the scholarly opportunity to address and advance opportunities for economic prosperity in the community.

“For us at Valley Strong to be so closely tied with the university for this kind of project means a lot for both the things we support at the university and for the community,” added Renock.

Dating back to the 1930s, the Credit Union was set up to serve those who worked in the K-12 school districts in Kern County, eventually expanding to community colleges, CSUB and now the entire community and the Central Valley of California.

“Without a good education, it’s really tough to make a go of it in the world. Our business depends on helping people to succeed financially and succeed financially if they’ve had a good education. It all fits together – that’s why, I personally, and Valley Strong like to support CSUB and other educational communities in Kern County and elsewhere,” said Renock.

Community leaders and The Brookings Institute have joined together to develop the Better Bakersfield Boundless Kern (B3K) Initiative, which is a public-private regional collaboration that articulates a shared strategic vision and investment plan for economic growth and inclusion in Kern County. The Valley Strong Research Fellowship will directly support B3K progress.

“This endowment we’re creating is going to help research that’s being done specifically to find ways to aid the economic development of the county,” explained Renock.

Photo of Steve Renock and President Zelezny

Valley Strong has been a longtime supporter of CSUB and the company’s philanthropy has touched every corner of the university – from Athletics facilities and student-athlete scholarships, to the Kegley Institute of Ethics and the Student Research Scholars Program.

“It’s the combination of ethics and support for people locally – to help them. Their economic opportunities are really something that’s close to the mission and values of our credit union,” added Renock.