Cross River Bank and New Jersey Institute of Technology Join Forces to Create Cross River Opportunity Scholarship

May 04, 2023 at 12:14 PM EDT

The $50,000 donation to the New Jersey educational institution will ensure access to education and foster talent in the technology sector

Scholarship furthers Foundation@ Cross River’s focus on increasing access to higher education and providing students with tools for success

Cross River Bank (“Cross River”), a technology infrastructure provider that offers embedded financial solutions, today announced the creation of the Cross River Opportunity Scholarship with the New Jersey Institute of Technology (NJIT). The annual scholarship is gifted through the Company’s giving arm, Foundation@ Cross River, with a donation of $50,000 to The Foundation at NJIT. The funds will provide direct support to students and empower those interested in finance and technology-related fields.

“When our giving effectuates change in the lives of students, like it will at NJIT, we are succeeding in our mission to provide impactful philanthropy,” said Miriam L. Wallach, Head of Social Responsibility at Cross River. “We’re thrilled to partner with New Jersey Institute of Technology to support their students in earning their degrees, and provide learning opportunities about the local technology community that can only be gained through mentor-mentee relationships.”

Each academic year, two talented and hardworking students who are attending the Martin Tuchman School of Management (MTSM) full time as FinTech majors will be named Cross River Opportunity Scholars. The funds will be awarded to first-generation students from low-income backgrounds and/or members of historically underrepresented groups.

The Cross River Opportunity Scholars for Spring 2023, Ali Smithson ‘25 and Dominick Gryzb ’26, were given a chance to meet representatives of their benefactor, Cross River, at a networking luncheon to honor the inauguration of the school’s President Teik C. Lim. At the lunch, Cross River’s Head of Social Responsibility, Miriam L. Wallach heard first-hand the incredible difference the Scholarship produces in the lives of these students by making education accessible.

“I am deeply grateful to Cross River for its generous investment in our talented students and in the university,” said NJIT President Teik C. Lim. “Our institutions clearly share many of the same values, commitments, and aspirations, from expanding the pipeline of future, career-ready tech talent to promoting diversity and inclusion in the STEM and STEM-adjacent fields. The partnership we have initiated will bring together our distinctive assets and resources, and that combination will benefit not only Cross River and NJIT but also the larger community. This is the very definition of a mutually beneficial university-industry partnership.”

In addition to providing tuition assistance, the scholarship will provide funding for Cross River Opportunity Scholars to participate in experiential learning activities, such as community service and development activities, training programs, workshops and conferences.

The partnership between Cross River and NJIT provides value beyond the scholarship, benefitting all students from MTSM and the university community. Cross River leadership and employees will serve as guest lecturers, in addition to creating recruitment opportunities for internships, co-ops and jobs.

As a leading financial technological company reshaping global finance and financial inclusion, Cross River is deeply invested in supporting initiatives that help communities drive positive change for a better future. The Company’s philanthropic arm, Foundation@ Cross River, supports initiatives, programs and projects that provide not-for-profit community organizations with funds and services needed to achieve their goals.

Learn more at www.crossriver.com/foundation and read Cross River’s 2022 Social Impact Report here.

About Cross River

Cross River provides technology infrastructure powering the future of financial services. Leveraging its proprietary real-time banking core, Cross River delivers innovative and scalable embedded payments, cards, and lending solutions to millions of consumers and businesses. Cross River is backed by leading investors and serves the world’s most essential fintech and technology companies. Together with its partners, Cross River is reshaping global finance and financial inclusion. Member FDIC. Find out more at www.crossriver.com.