Union Bank prepares for March 2 opening
Union Bank and Trust Company is (nearly) ready to move into its new space in the Nebraska Union.
With a final construction blitz this week, the Lincoln-based financial institution is on track to open a full-service UNL branch on March 2. It will be located in a newly designed space on the north side of the Nebraska Union. Union Bank, selected through a competitive bid process, replaces Wells Fargo Bank as the exclusive bank on UNL's City and East campuses.
“It’s a work in progress right now, but the blue Union Bank sign is on the wall and we’ll definitely be ready to serve campus on Monday,” said Lindsey Kirkendall, manager of the UNL branch. “This will be a unique location offering a variety of financial services to fulfill the needs of students, faculty and staff. We’re excited to be a part of this community.”
Under the terms of the agreement, Union Bank will provide UNL with $9.53 million over 11 years. The switch will bring expanded banking services to campus and result in minor changes in billing procedures for purchases made via NCards.
Along with the branch location, Union Bank will offer eight ATMs across both UNL campuses. The bank is also providing educational outreach services, a new self-service center in the East Union, interactive ATM machines that connect via video directly to Union Bank’s Lincoln-based call center, monetary support to student organizations, and an employee dedicated to working with faculty and staff.
Educational outreach services offered are divided into two areas: a “Resource Bank” to connect banking experts with faculty, classrooms and organizations; and the UCrew, a team of more than 20 Union Bank employees available to provide financial literacy and money management tips to student groups.
“We want to make our expertise available to campus,” said Kevin Keller, first vice president of marketing for Union Bank. “The Resource Bank will be available online and allows for members of the UNL community to make a speaker request in a particular area of interest. The UCrew presentations will be tailored more toward providing basic financial information to students.”
Other Union Bank services include:
An East Union self-service center that includes an ATM with video connection to the Union Bank call center. The center will also offer a touch screen system to help individuals select and open an account, informational videos and a message video board.
Providing $20,000 annually to student organizations. Bank officials, Student Involvement and Student Affairs will coordinate disbursement of the funds.
Offering bank accounts designed specifically for UNL students (UNL MyStyle) and employees (University Checking).
UNL's agreement with Wells Fargo Bank concludes at the end of February. The Wells Fargo location on the south side of the Nebraska Union will close Feb. 27. Current Wells Fargo account holders are not required to change banks.
The transition will change the way NCards can be used to purchase items on campus. Previously, NCards could be linked to a Wells Fargo account and used as an ATM/debit card. That service will not be offered by Union Bank. Kim Phelps, associate vice chancellor for business and finance, said NCard connections to existing Wells Fargo accounts will be removed within 180 days.
"The NCards can still be used for purchases made at participating campus vendors," Phelps said. "However, NCard campus account purchases will appear on the Student Accounts consolidated bill for each student or as a payroll deduction for faculty and staff."
Union Bank will host a grand opening celebration from March 2-13. Refreshments, prizes (including a $500 cash giveaway) and special activities are planned. The events are free and open to students, faculty, staff and the public.
Keller said a Union Bank plans to launch a UNL-specific section on its website later this week. For more information on the banking transition, call 402-323-1777.