PALO ALTO, Calif. – Members of the Stanford Federal Credit Union have "overwhelmingly" voted to endow a professorship in the School of Humanities and Sciences at Stanford University. The professor appointed to the chair will have a focus on public service and the betterment of the community, officials said. SFCU President John R. Davis said 69% of credit union members voting approved spending $1.5 million to establish the Stanford Federal Credit Union Professorship at Stanford University. Stanford's Board of Trustees also formally approved the professorship. Davis said the professorship is only the second in the country endowed by a credit union at its sponsoring university. The permanent endowed chair was established with the $1.5 million commitment from SFCU and a $1.5 million match from the William and Flora Hewlett Foundation. Funds to endow a chair are invested by Stanford so that earnings and appreciation of the investment support the distinguished faculty member who is designated as the chair holder.

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