The credit union will provide free membership to students, faculty, staff, alumni and retirees and oversee the addition of two new ATMs on campus
A new partnership between University Credit Union (UCU) and UC Davis will fund maintenance for the ARC Pavillion on campus and provide students, faculty, staff, alumni and retirees a free UCU membership.
“University Credit Union will provide financial literacy, financial well-being programs, student employment opportunities as well as specialized offerings to help students achieve their educational aspirations,” said David Tuyo II, the CEO of University Credit Union.
The company intends to support all individuals affiliated with UC Davis, according to Tuyo II.
“The vision of the founding body of [UCU] member-owners was to create a financial alternative to the big for-profit banks serving all within the university community, leaving no one marginalized or outside of participation in economic prosperity,” Tuyo II said. “In 2021, we are projecting to give back an amount equal to 100% of our net income to the university community and create value for our member-owners that is 500% of the same amount.”
UCU has hired a UC Davis alumni member to serve on campus, and they are planning to hire additional students and alumni for their advisory center that will be located at the Memorial Union (MU).
The university’s choice to partner with UCU was deliberate and due to the credit union’s mission to support universities and give back to the community, according to Heather Hunter, the executive director of the university partnership program.
“The partnership will initially support graduate student travel awards, student employment opportunities and student financial education and wellness programming,” Hunter said. “As the partnership evolves, we will work with Student Affairs to identify additional areas to support student initiatives.”
In addition to supporting student groups on campus, UCU will also offer aid to individual students.
“University Credit Union will provide free membership to our students, faculty, staff, alumni and retirees,” Hunter said. “Our campus stakeholders will have access to the great benefits that University Credit Union provides its members.”
The partnership will allow the credit union to be an accessible financial resource for students.
“Financial decisions that students make now will have an impact for years to come,” Tuyo II said. “University Credit Union will help guide students and provide the knowledge necessary so students are empowered to make the best and most well-informed decisions to accomplish their goals.”
Students will also be benefitting from the partnership due to the upcoming renovation of the Pavillion. On July 1, the Pavilion will be renamed the University Credit Union Center (UCUC). This name change will be accompanied by updates to the center, notably a new video board.
“The new Daktronics video board [is over] 13 ft high and 46 ft wide; [it] will show replays and real-time statistics,” Tuyo II said. “The videoboard can also be used for campus events throughout the academic year, in one of the largest on-campus multiuse facilities in Northern California, with seating capacity approaching 6,000 for basketball games.”
The credit union has a longstanding relationship with the University of California and the sports conferences, including the Big West, in which Davis students compete.
“This partnership will benefit our athletics department as well as our broader campus community,” said Jim Les, the head coach for men’s basketball. “Our core values of building champions for future success align perfectly.”
In order to offer accessibility to students, the UCU will be installing two ATMs at UC Davis. Although they are still evaluating a couple of locations, they are predicted to be located in the MU and the new UCUC.
Student Affairs will be meeting with UCU annually to identify areas of need for undergraduate funding, beginning in the 2021-2022 academic year, according to Hunter.
“This partnership between UC Davis and University Credit Union will set an example for how such a relationship can grow beyond the naming of a building, with initiatives that will benefit our whole campus,” said UC Davis Chancellor Gary May in a news release.
Written by: Maddie Duley — email@example.com