PNC to Provide Services to Kent State University

KENT, Ohio – Under a 12-year contract between PNC Bank and Kent State University, the bank will begin providing its services to students and faculty at the main campus of the university and its branch campuses beginning July 1.

Gregg Floyd, senior vice president for finance at Kent State, and Kevin Thompson, president of PNC’s Akron-Canton region, announced the agreement Tuesday. Beyond 11 ATMs throughout the eight campuses and a branch opening on the main campus, PNC will offer financial literacy programs to the 48,000 students enrolled.

The university requires PNC to support its daily business operations to treasury management, credit-card merchant services and retail-university banking. PNC Bank was chosen because its “proposal represented the best overall value,” a university Floyd said.

Highlights of the agreement:

  • A PNC branch on the main campus staffed by two bankers available to help customers complete their transactions. It will be equipped with technology to inform customers on PNC products and services.
  • Of the 11 ATMs throughout most of the eight campuses, six will be on the main campus. The Ashtabula campus will lack a PNC ATM because the bank lacks a bricks-and-mortar office nearby. So will the East Liverpool campus because PNC has an office and ATM within a block. Two of the ATMs will be DepositEasy, which allows students, faculty and staff to withdraw cash, including $1 bills, cash checks, and deposit checks or cash directly into their account.
  • Virtual Wallet student accounts for Kent State students. Students with such accounts will have the technology they need to monitor their spending and learn account balances. “It also is equipped to help safeguard customers from financial mistakes and unnecessary fees,” Thompson says.
  • A co-branded website, hosted by PNC where students can complete applications for PNC products, manage their finances and learn financial information.
  • On-site workshops on managing personal finances and financial literacy. Among the topics: basic banking, credit management, saving and investing, identity protection and buying a residence.

PNC has relationships with more than 400 schools in 19 states and the District of Columbia.

SOURCE: PNC Bank.

Copyright 2022 The Business Journal, Youngstown, Ohio.