HUNTINGTON, W.Va. – Marshall University has contracted with Higher One, a New Haven, Conn., financial services company for colleges and universities, to provide one-card banking and electronic funds disbursement through MU’s student, faculty and staff ID cards.
Beginning with the first summer term of 2004, Marshall students, faculty and staff will have the option to use their ID card, the Marshall OneCard, as a MasterCard Debit Card. The new system will allow those holding a Marshall OneCard to access a variety of customized banking services through the card.
The ID card program will allow Marshall OneCard holders to use their card for primary bank account access as well as to retrieve cash from ATMs, transfer money electronically and monitor their accounts on-line. Additionally, the Marshall OneCard will permit students to receive their financial aid refund payments and other refunds electronically. The system also will allow students, faculty and staff to have their payroll checks deposited electronically into their accounts.
In addition to being a debit card accepted at more than 31 million merchants worldwide, the new Marshall OneCard also will provide access to the university’s Herd Points program, a stored-value account that allows students to use their ID for purchases on campus. The MU OneCard will be a benefit of enrollment or employment at Marshall.
“Students and parents do request a system that would provide them with an easier mechanism for handling their campus finances,” said Dr. Karen Kirtley, Marshall’s assistant vice president for administration. “The Marshall OneCard program will benefit students by making their financial aid and other refunds available to them faster. It will benefit the university through increased efficiency and administrative cost savings.”
As a financial services provider, Higher One focuses on meeting the unique financial needs of higher education institutions. The company’s goal is to help universities reduce administrative costs, streamline business processes, increase revenue opportunities, improve the student experience and strengthen the campus community.
Located in Huntington, W.Va., Marshall University is a public university with an enrollment this spring of more than 16,300 students. Marshall offers 43 baccalaurate degree programs and 40 master’s degree programs in the liberal and fine arts, business, sciences and education.
Higher One provides customized private label and OneCard banking relationships to higher education institutions. With an exclusive focus on higher education and an innovative approach to student financial services, the company’s solutions help university partners reduce administrative costs, streamline business processes, increase revenue opportunities, improve the student experience, and strengthen campus community.
The company is led by a team of executives with backgrounds in higher education, finance, banking, and entrepreneurship. Higher One’s customers represent a community of more than 100,000 students and include distinguished public and private institutions such as the first higher education institution to win the prestigious Malcolm Baldrige National Quality Award.