Huntington National Bank Partners with University of Michigan to Enhance Banking and Financial Education
- Huntington Bancshares has become the official consumer bank of the University of Michigan, enhancing banking services for its community.
- This partnership includes unique benefits like waived fees, co-branded debit cards, and discounts on mortgage closing costs.
- Huntington will invest $250,000 in scholarships, expand financial literacy programs, and enhance its on-campus presence with new ATMs.
Huntington National Bank announces a significant business partnership with the University of Michigan, positioning itself as the official consumer bank for the university community. This collaboration aims to enhance banking services and promote financial education, catering to over 100,000 students, faculty, and staff affiliated with the institution.
Innovative Banking Solutions for University Community
Under the terms of the agreement, Huntington introduces several unique banking benefits including waived monthly fees for select checking accounts and co-branded debit cards that work in conjunction with the university’s MCard. In addition, Huntington plans to increase its physical presence on campus by installing six ATMs, an important convenience for students and staff.
Committed to facilitating further educational support, Huntington pledges to invest $250,000 in scholarships and to sponsor various student organizations. Alongside these initiatives, Huntington seeks to enhance financial literacy programs and increase internship opportunities through its RISE initiative, reinforcing its commitment to serve the local community.
Local Commitment and Strategic Collaboration
Gary Torgow, chairman of Huntington's board, articulates the bank’s dedication to the Michigan community, stating, 'We are proud to be the bank of choice for students, faculty, and staff of the University of Michigan.' Drew Smith, interim vice president for finance at the university, underscores the competitive nature of this partnership decision, accentuating Huntington's local roots and commitment to exceptional customer service.
Sustained Economic Impact
Operating nearly 300 branches across Michigan, Huntington Bancshares has established itself as a key player in the local economy, notably as the state’s largest originator of SBA 7(a) loans since 2008. This robust engagement underscores Huntington's commitment not only to banking but also to broader economic growth within the state.