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Banks UW CU discover gold in college students
MADISON, Wis. (9/15/09)--University of Wisconsin CU (UW CU) was one of several financial institutions that visited the University of Wisconsin campus in Madison, Wis., in hopes of attracting incoming students. UW CU was promoting its student account programs. More than 50% of incoming UW students become UW CU members, and 60% keep their accounts after graduation (Wisconsin State Journal Sept. 12). UW CU is offering students the ability to use their student identification card, the WisCard, as a debit card linked to a UW CU checking account. The credit union has a seven-year agreement with UW to offer the program. UW CU will build a new branch at the university’s second student union, which is expected to open in 2011. Students also can sign up for a “campus package” at UW CU that includes a no-minimum balance checking account, unlimited free ATM transactions, e-mail or text message alerts, and Money Link, which allows anyone to transfer money into a UW CU account from any financial institution, the newspaper said. UW CU also offers financial education to its members. Last year, the credit union provided more than 225 financial seminars that reached more than 5,000 people. Other financial institutions appearing at the University of Wisconsin included U.S. Bank and Associated Bank. Both offer account programs targeting college students and said that students are a major focus of their financial institutions. The Journal also interviewed several university students, asking what they would like from their financial institutions. The students cited credibility, online statements, free checking, credit cards with rewards, and competitive interest rates on student loans.
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