PNC, U-M Form Banking Partnership

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ANN ARBOR — Under a new agreement, PNC Bank will become the official consumer bank of the University of Michigan and will provide student and workplace banking, as well as financial literacy programs, for more than 80,000 students, faculty, and staff at the Ann Arbor-based university.

“This partnership links one of the world’s finest universities with one of the nation’s top financial institutions,” says Ric DeVore, PNC regional president for Detroit and Southeast Michigan. “In addition to providing world-class products and services, PNC will be empowering Michigan students through financial education workshops to achieve long-term fiscal success.”

Highlights of the agreement include:

  • On-site workshops on personal financial management and financial literacy. Topics include basic banking, credit management, savings and investing, identity protection and home buying.
  • Up to 14 ATMs throughout the University of Michigan’s main campus. Three ATMs will allow students, faculty and staff to withdraw cash, including $1 bills, cash checks, and deposit checks or cash directly into their accounts.
  • Virtual Wallet for student accounts for University of Michigan students. The account is equipped with technology to help students monitor spending, view account balances and safeguard customers against financial mistakes and unnecessary fees.
  • A co-branded UM debit card available to all students, staff, alumni, account holders.
  • The capability for PNC account holders to link their account to their Mcards, which can then be used to conveniently access cash at all PNC ATMs.
  • A co-branded website, hosted by PNC Bank, where students can complete account applications, manage their finances, and find financial and educational information.

PNC has relationships with more than 400 schools across nearly 20 states and the District of Columbia.

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