UCU Launches Five-Year Partnership With UC San Diego
The Los Angeles CU will open a new on-campus advisory center and offer opportunities for internships and scholarships.
University Credit Union – which first opened its doors in 1951 on the University of California, Los Angeles campus – is expanding its support of UC system students, alumni, staff and retirees through a new partnership with UC San Diego, one of the university system’s 10 locations in the Northern and Southern regions of the state.
The $1 billion UCU’s partnership with UC San Diego, announced on Thursday and set to last for five years, will include the addition of six on-campus ATMs and the opening of a UCU advisory center within the university’s Price Center facility. The new advisory center, slated to open this fall, will serve as a “full-service banking hub” staffed by UCU financial professionals and include access to member services and ATMs, according to UC San Diego’s website. UCU plans to support the financial wellness of those affiliated with UC San Diego by providing one-on-one consultations, in addition to financial education seminars and workshops.
The partnership also marks the launch of the Staff Association Scholarship Fund, a source of financial aid for UC San Diego employees who need help paying for professional development programs. UCU is also giving UC San Diego students the opportunity to advance their careers by offering internships in investment management, the university said.
What’s more, UCU plans to sponsor athletic and alumni events as part of the alliance, as well as launch co-branded UC San Diego credit cards and UC San Diego Athletics debit cards.
“As an organization that prioritizes the success of all higher ed institutions in California, we are honored to have this opportunity to partner with another important institution,” Dr. David Tuyo II, president/CEO for UCU, stated. “The values between UCU and UC San Diego are perfectly aligned and I believe that we can make a real difference in meeting the financial needs of our Triton community.”
Pierre Ouillet, vice chancellor and CFO for UC San Diego, added, “Finding a banking partner capable of providing state-of-the-art products and services, while meeting the needs of stakeholders from across an institution of our size, is no small feat. Partnering with University Credit Union, a not-for-profit financial cooperative founded by members of the higher-ed community, allows us to develop a model for what a partnership between universities and financial institutions can look like.”
UCU serves approximately 50,000 members, and runs one branch in Los Angeles as well as six advisory centers throughout California.