Campus ID News
Card, mobile credential, payment and security
FEATURED
PARTNERS

The face-to-face advantages of a branch bank on a college campus

Chris Corum   ||   Feb 10, 2006  ||   ,

Helping college students who are on their own for the very first time can be a rewarding experience for employees of a bank’s on-campus branch. Students may never have had a bank account before and it may be their first experience with a payment card as well. True, they could deal with an online bank or work with their bank back home or across town, but many find there is no substitute for sitting across the desk from a real live human being at a brick and mortar bank on campus.

“Students just starting on campus, know very little about managing their own finances,” said Whitney Bright, vice president, Campus Banking, for U.S. Bank. “That’s why face-to-face interaction is important.”

Even simple banking tasks that most of us take for granted, such as opening accounts, making deposits, using the ATM, may be Greek to students, particularly incoming freshmen. Learning the basics, “students seem to be appreciative of this,” said Ms. Bright.

This level of comfort and education is perhaps the single most important benefit that an on-campus branch can offer.

But other benefits of on-campus branch banks have nothing to do with students. “(A branch can give) parents peace of mind, knowing their students have a bank on campus they can visit anytime,” said Ms. Bright. “There might be a brick and mortar bank a mile away, but that bank has to deal with so many other things … an on-campus branch is dealing just with students.”

Understanding the campus market

The most important factor when locating a branch on campus is understanding the campus market. A college branch bank is dealing with a unique niche with operational needs.

“The student market is unique so employees (should be) different for the campus branch,” added Ms. Bright. But it goes much deeper than simply hiring the right employees to work with students. Financial education, product offerings, pricing, even hours of operation may need to be adjusted to most effectively serve a campus market.

“We (U.S. Bank) conduct financial wellness seminars for students,” said Ms. Bright. They learn how to open and, more importantly, run their checking accounts. That includes balancing their checkbook each month, reading bank statements, things that most of us take for granted. “We teach students how not to get into trouble with their credit and ATM cards,” she adds.

With more and more financial functions being tied to campus cards today, knowing how to manage and care for personal financial wellbeing takes on even greater importance–for both students and their parents. An on-campus branch can be a key tool in this lifelong lesson.

Related Posts

|| TAGS: ,
Subscribe to our weekly newsletter

RECENT ARTICLES

High school bathroom

Bathroom breaks tracked by campus ID and mobile app

At California’s Fresno High, a new app is authorizing and monitoring trips to the bathroom in an effort to increase students’ time in class and decrease gathering in halls and bathrooms. Of course, this has not gone over well with students. Raising your hand and asking the teacher if you can go to the bathroom […]
Atrium Ozzi container

Atrium clients track check-out and return of reusable containers at OZZI kiosks

The push to reduce or even eliminate single-use containers from campus dining is now easier for Atrium clients. Thanks to a seamless integration between Atrium and the OZZI reusable container program, the processes for both students and dining services is streamlined. Atrium clients have been using OZZI for years, but the two systems were independent. […]
HID report snapshot

Security industry’s top trends include mobile IDs, MFA and sustainability

The 2024 State of the Security Industry Report from HID Global studies trends and changes in the security industry. This year six major themes emerged surrounding mobile identity, multi-factor authentication, biometrics, AI, and sustainability. The research includes data from more than 2,500 individuals – partners, end users, and security/IT personnel – from around the globe. Respondents […]
CIDN logo reversed
The only publication dedicated to the use of campus cards, mobile credentials, identity and security technology in the education market. CampusIDNews – formerly CR80News – has served more than 6,500 subscribers for more than two decades.
Twitter

Feb. 1 webinar explores how mobile ordering enhanced campus life, increased sales at UVA and Central Washington @Grubhub @CBORD

Join Jeff Koziol and Robert Gaulden from @AllegionUS as we explore how mobile credentials and proptech are changing on- and off-campus housing.

Load More...
Contact
CampusIDNews is published by AVISIAN Publishing
315 E. Georgia St.
Tallahassee, FL 32301
www.AVISIAN.com[email protected]
Use our contact form to submit tips, corrections, or questions to our team.
©2024 CampusIDNews. All rights reserved.