Banking & Finance and Higher Education

CMU renews on-campus contract with Independent Bank

May 31, 2013
| By Pete Daly |
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CMU renews on-campus contract with Independent Bank
Independent Bank has a branch on the campus of Central Michigan University. Photo via fb.com

Independent Bank and Central Michigan University in Mount Pleasant have renewed their campus-banking contract for five years, according to a joint announcement this week.

Independent Bank is based in Ionia and has had a partnership with CMU since 2001.

Through Independent Bank and Money Network, CMU students can deposit financial aid refunds and payroll wages with their debit card. Students, faculty and staff can access five on-campus ATMs or 50,000 Allpoint Network ATMs worldwide. They also can write checks against their debit cards.

“We are honored to continue our relationship with CMU by providing banking service to students, faculty and staff,” said Independent Bank Senior Vice President Michael J. Stodolak.

About 6,900 students — nearly one-third of the undergraduate population — have debit cards through Independent Bank’s partner. About 5,500 students have accounts through Independent Bank, which has an on-campus branch on the second floor of the Bovee University Center.

Independent Bank has more than 70 branches throughout the state and total assets of approximately $2.1 billion.

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