By Justin Wier
Earlier this semester, Youngstown State University finalized an agreement with PNC Bank to provide banking services on campus. The Jambar spoke to Liz Ferrilli, relationship manager for PNC’s University Banking division, and YSU Bursar Gloria Kobus about what the agreement means for students.
PNC has installed two ATM machines on campus for students one in Kilcawley Center and another on the Stavich Bridge outside of Meshel Hall. But a major aspect of the agreement revolves around financial literacy training for both students and staff.
Ferrilli said this will begin in the fall as students move into residence halls.
“We’re going to have conversations with students when they first come to campus,” she said. “So they can feel very comfortable about managing their money while they’re away from home.”
They are also scheduling lunch and learn sessions for faculty and staff this summer. Kobus will be working with PNC on these initiatives.
“We’re busy developing a calendar for employees and students, so PNC can be present and at the disposal of our employees and students,” Kobus said.
Ferrilli said PNC trains branch employees to speak on 12 different topics relating to financial literacy, and they will schedule presentations on campus throughout the year. The presentations range from introductions to banking in the U.S. for international students to programs geared towards seniors who are going to be graduating and entering the wider world.
While the ATM in Kilcawley Center allows for PNC customers to deposit cash and checks as well as make withdrawals, the future could include a potential e-office, which is something PNC has at Kent State University.
“We generally have e-offices on campuses where we don’t necessarily have a branch nearby or that there’s a large resident-student population,” Ferrilli said. “It’s possible in the future that if there was a significant portion of students living on campus that we would explore having an e-office.”
Until more students live on campus, Kobus said she is striving to create a shuttle route that would take students to PNC’s downtown office on Federal Street.
The new ATM machines still charge service fees for students who are not PNC customers, possibly in addition to service fees charged by the student’s own bank.
Ferrilli said PNC became involved with university banking in the ‘90s because they see students as “attractive young consumers.”
“If you get a college education, you’re going to hopefully have a great job down the road,” Ferrilli said. “Our goal is to develop a long-term relationship with these students and see them through their major financial milestones.”
Additional reporting by Gabrielle Fellows.