Loyola announces plans to partner with PNC Bank
Posted by loyolastudentdispatch on May 25, 2011
A message sent this morning from Loyola University Chicago’s Financial Services outlined the university’s plan to make PNC Bank the official banking service on both the Lake Shore and Water Tower campuses. The process will include the removal of all existing campus ATM machines, which currently belong to JPMorgan Chase Bank, and the addition of an electronic services branch inside of the Centennial Forum Student Union.
The message from Financial Services said:
Free checking accounts, a campus branch, and Automated Teller Machines (ATMs) placed across campus are among the conveniences available to Loyolans as a result of a pending agreement between Loyola and PNC Bank to provide campus banking services beginning in June. This partnership makes sense for a number of business reasons and the campus banking program offered by PNC Bank is a natural extension and will be a substantial benefit for our University community.
Where can I find a PNC branch?
There are currently three branches near the Lake Shore Campus (a new branch is coming soon near the south end of campus) and five branches near the Water Tower Campus. PNC operates nearly 150 branches in the Chicagoland area with plans to add additional branches over the next five years.
Will PNC have a branch on campus?
PNC will build an electronic services branch in the Centennial Forum Student Union that will be staffed by a PNC employee and provide direct customer service support, but will not be designed for teller functions. The E-Branch, slated to open this summer, will feature an advanced function ATM to handle various cash transactions.
Will we now have both PNC and Chase ATMs on campus?
No. Chase ATMs currently on campus will be removed on or around May 31 to make room for the PNC ATMs, some of which are scheduled for installation the week of June 6. Note: Chase customers will still have convenient access to Chase branches on Sheridan Road and in the John Hancock Center, which are located near our lakeside campuses.
Why is this good for Loyola students?
PNC is committed to the success of students, providing financial education and literacy to students, and offering convenient access to customer service. PNC will be a visible presence on campus and will support the University and provide convenient access to financial services. Lastly, the University plans to reinvest the financial benefits it receives back into student support, such as financial aid.