LEXINGTON, Ky.–UK Federal Credit Union, chartered to serve the University of Kentucky, is being pushed off the university’s campus after PNC Bank announced a deal with UK to be the “official bank” for its 30,000 students and 12,000 employees.
The contract was signed with JMI Sports, which is UK’s sports marketing partner, according to the Lexington Herald-Leader, which obtained the information under the state’s Open Records Act.
According to the Lexington Herald-Leader, PNC will get a list each year of employees and students who have not opted out of the school’s directory information, allowing the bank to send mailings. PNC will be the only bank allowed to promote itself on campus and will have access to UK’s intra-campus email for distribution of PNC literature, the newspaper reported.
PNC also will set up seven ATMs around campus, including in the new Student Center, due to open in 2018, where the company will build a 645-square-foot office. Under the deal, students will be able to use their UK ID card as their PNC debit card.
The Herald-Leader reported the contract allows UK Federal Credit Union to keep two ATMs and a branch office on campus, but it cannot have any presence on the first floor of the new student center. UK is terminating lease agreements for a credit union ATM in Kirwan Hall, and with BB&T and US Bank, which have ATMs in Bowman’s Den, the newspaper said.