Western New England University receives $1M donation

SPRINGFIELD, Mass. (WWLP) - A unique trading room for business students at Western New England University was made possible by one of the largest donations ever made to the Springfield university.

A $1 million check was presented to WNE by representatives of the estate of Frances Cohen on Monday. In addition to helping create the Frances and Norman Cohen Trading Room and Financial Center, money from the donation will also be used to set-up scholarship funds for WNE students.

Longtime friend Jeffrey Sagalyn says that the gift is symbolic of the Cohen’s legacy.

“Their success was based on business, their success was based on financing, and by creating a trading room, and Fran was a spectacular trader, and also creating a scholarship fund, we hope that the students who utilize this will also be successful, and also give back as the Cohens have. But it is an extraordinary and unusual gift,” Sagalyn said.

Both Norman and Frances Cohen graduated from the Springfield Division of Northeastern College, which later became Western New England College; now Western New England University. The couple grew their business, Norco Appliance Distributers, into the largest wholesale appliance distribution business in the Northeast.

Norman Cohen died in 1985, and Frances Cohen died in 2011.