The 2008 Financial Crisis was the catalyst for starting Lambda Phi Nu. At a macro level, the housing bubble burst, the Dow Jones crashed to a historical low, and 1.2 million jobs were lost within one year. At a micro-level, students felt the impact with rising tuition, curtailed financial aid, and faculty shortages. To make matters worse, UCI's business program was still young; its undergraduate business program initiated its first 200 students in the Fall of 2008.

In the midst of these challenging times, a group of student leaders wanted to create opportunities for UCI's business students. It began with the Accounting Association Officer Board seeking to make UCI a target school for public accounting firms. In the summer of 2010, our founding Chief Executive Officer decided to extend this spirit of brotherhood to student leaders in other organizations. Lambda Phi Nu was born.

Although a majority of the Founders already received full-time offers, they spent their senior years mentoring students, growing sponsorships, and launching new initiatives. Their motive was to give back to UCI and cultivate a legacy of student leaders who also wanted to give back. In the words of the Apostle Paul, “do nothing out of selfish ambition or vain conceit.” Our reason to exist has been, and will always be, to “Grow Forward, Give Back.”