The $1.2 billion UW credit union stands to pick up a significant number of new student members after it inked a deal that will allow University of Wisconsin students to use their identification cards at the CU's ATMs.
The deal includes the credit union opening and renting the space for a branch in a new student union building and contributing to the new building's construction. The new ID/ATM cards will allow students to access university buildings, pay for their meals in their dorm cafeterias, get cash from the ATM and make purchases at point of sale terminals with their personal identification number, according to Lisa Girdharry, UW's director of marketing.
"More than 50% of incoming UW-Madison students choose us as their financial partner because we are committed to doing the right thing and looking out for their best interest," said UW Credit Union President/CEO Paul Kundert. "As a not-for-profit cooperative, we reinvested our student profits into student relations and followed their overwhelming support of the new south campus union."
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Girdharry acknowledged UW faces a marketing challenge since the students will have to become members of the credit union in order for the cards to work in the ATM. But she hoped that enough students would be drawn to the convenience of having one card to use all over campus to make it popular.
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