U.S. Bank will announce two donations to the new Ohio Union today, with commitments of $1 million and $50,000.

Those present for the announcement at the new Union will include Ohio State President E. Gordon Gee, former Olympian Stephanie Hightower and U.S. Bank’s Market President Dave Sceva.

“Given this economy, a $1 million and $50,000 financial contribution really is a real big financial gift to celebrate,” said Heather McGinnis, director of development for the Office of Student Life and the Ohio Union.

With a portion of that donation, the Union will recognize the bank by putting its name on a conference theater in the new $118 million building, and will use the money for endowments for student organizations, McGinnis said.

U.S. Bank will have a branch and four ATMs in the new Union, Union officials said in an earlier interview with The Lantern.

After Gee and representatives of OSU accept a check from U.S. Bank, the bank is expected to make a formal presentation and provide information about the donation and what the money will be used for in the Union.