Menomonie, WI– September 13, 2002- The University of Wisconsin – Stout has chosen Higher One to provide its “OneAccount” banking solution to all students, faculty, and staff. Higher One is a financial services firm focused exclusively on creating customized solutions for the higher education market.
Starting this Spring, the “OneAccount” will be automatically offered as a benefit associated with enrollment at UW Stout. This benefit will provide easy access to banking services linked to the Higher One’s customized financial system, the university’s administrative financial system and its flex account. The OneAccount may serve as a primary bank account, allowing cardholders to use their UW Stout ID cards to complete transactions anywhere, anytime.
The card will function as a “MasterCard Check Card” and be accepted by over 24 million merchants worldwide. Cardholders can get cash from ATMs, write checks, send and receive money electronically from their accounts and monitor the details of their accounts online.
The service will make it possible for students to receive financial aid refunds electronically to their OneAccount and for all student employees to electronically receive their payroll checks. This automation will result in increased efficiency and cost savings for the University.
“We are pleased with this arrangement, which is yet another innovative way of serving our students, ” said Chancellor Charles W. Sorensen. “UW-Stout has been a leader in change for higher education and this arrangement is a good fit for us.”
“We’re very excited to have the opportunity to provide our innovative service to the University of Wisconsin – Stout campus,” added Higher One’s National Sales VP Walter Hinckfoot. “They are nationally recognized for customer service and quality as the recipient of the Malcolm Baldrige National Quality Award. This is a good fit with our commitment to improving the student experience and helping universities improve efficiency.”
About the University of Wisconsin – Stout
Involvement and innovation typify a way of life for more than 8,000 students attending University of Wisconsin-Stout. Since its founding in 1891, students from around the world have been drawn to the UW-Stout campus by an outstanding curriculum, a faculty with a record of concerned service to students, and facilities that are among the finest anywhere. Founded as an experiment in education, UW-Stout attracted national attention from the beginning. Last year UW-Stout became the first university to receive the prestigious Malcolm Baldrige National Quality Award, as announced by the White House. This fall, the university will become the first public university in Wisconsin to equip all new freshmen with laptop computers.
About Higher One
Higher One provides customized private label and one card banking relationships to higher education institutions. The company’s solutions help university partners reduce administrative costs, streamline business processes, increase revenue opportunities, improve the student experience, and strengthen the campus community. The company is led by a team of executives with backgrounds in higher education, finance, banking, and entrepreneurship. Fred Frank, Vice Chairman of Lehman Brothers, John Griswold, VP for External Communications for the Commonfund, and other leaders in higher education and finance serve as advisors to the company. David Cromwell, former CEO of JP Morgan Capital, Greg Baroni, President Unisys Global Public Sector, and Paul Biddelman, President of Hanseatic Corporation, serve on Higher One’s board.
For Higher One, Inc. press inquiries, contact:
Mark Volchek, Founder and Chairman
122 Court St.
New Haven, CT 06511
For University of Wisconsin – Stout press inquiries, contact:
John K. Enger
University Relations, Administration Building, UW-Stout, Menomonie, WI 54751