University renews Citibank’s contract for services

A nine-member committee composed of seven administrators, one graduate student and one undergraduate student has unanimously chosen to renew Citibank’s contract to provide on-campus consumer banking services to the University community.

Citibank has provided banking services on the University’s campus since 1996.

As part of its evaluation process, the committee last spring distributed a survey about banking services to student leaders, and last fall it held an open meeting to hear student concerns and preferences.

This was the first time students were included in the selection process for a campus bank. As a result, the committee learned that students’ top priorities were breadth of service, no-fee checking and ready access throughout the world.

Fourteen banks were invited to submit proposals for the contract. Six banks responded and three banks, including Citibank, made it to the final selection round. The committee evaluated each on the level of proposed service to students, faculty and staff, as well as commitment to the community.

An advisory committee will be formed to work with Citibank to improve communication and monitor the continuing relationship between the bank and the University community.