Marquette Wire

Town Bank becomes Marquette’s exclusive banking partner, replaces US Bank

Wintrust+Financial+signed+a+contract+with+the+university+last+March.
Wintrust Financial signed a contract with the university last March.

Wintrust Financial signed a contract with the university last March.

Photo by Andrew Himmelberg

Photo by Andrew Himmelberg

Wintrust Financial signed a contract with the university last March.

Hang on for a minute...we're trying to find some more stories you might like.


Email This Story






Town Bank replaced U.S. Bank over the summer in its partnership with Marquette University, becoming the university’s exclusive banking partner. 

The proposal for a new on-campus bank in the Alumni Memorial Union came last November during the university’s search for its next banking partner. U.S. Bank’s contract with Marquette expired March 31, at the end of this fiscal year.

Town Bank’s contract is expected to last 10 years, according to the university.

ATMs across campus will be switched to Town Bank in the coming months, and students carrying bank cards unaffiliated with Town Bank will pay a $3 use fee.

“We decided to partner with Marquette University because it is a high-profile university and we share their values and support Marquette’s mission,” Jay Mack, president and CEO of Town Bank, said.  

Mack said Marquette students will receive the opportunity for academic funding with Town Bank’s financial aid.

Town Bank is investing $12 million over 10 years through its parent company Wintrust Financial Corp. to fund scholarships and educational programming.  The parent company will also invest in the College of Business Administration’s Commercial Banking Program.

The switch to Town Bank was made because its proposal offered the best strategic opportunities to fit the university’s needs, said Kent Belasco, director of the Commercial Banking Program. 

“I would consider them a platinum member of my advisory board amongst other banks,” Belasco said.

The Commercial Banking Program helps prepare students interested in a banking career through hands-on work experience, according to the program’s website. Wintrust contributed half a million dollars toward the program, where students utilize the money to lend to small businesses in the area and practice banking skills.  

Milad Hosseini, a junior in the College of Business Administration, started working for Town Bank as a universal banking representative in June. 

“I love what Town Bank stands for and everything that they do for the community and for the students,”  Hosseini said.

However, some current U.S. Bank card holders said they are upset with the change.  

Ellie McNeal, a junior in the College of Arts & Sciences, said the university appears to have no regard for the convenience of its students.

“We were all pushed toward getting U.S. Bank cards because the bank was situated on campus,” McNeal said. “Now students will once again have to make a switch to Town Bank if they want to use the on-campus bank.”

Town Bank is planning branches in the Catholic Financial Life building near Marquette’s campus, as well as near Cathedral Square Park, located at 520 E. Wells St.

Print Friendly, PDF & Email

About the Writer
Donna Sarkar, News Reporter

Donna Sarkar is a current junior at Marquette University, majoring in Journalism in the College of Communications and minoring in Psychology and Human Resources. Donna intends to work in a communications field upon graduation. In addition to being a news reporter for the Wire, she is an ambassador at the Global Village.

Print Friendly, PDF & Email
Leave a Comment

If you want a picture to show with your comment, go get a gravatar.




Navigate Right
Navigate Left
  • Town Bank becomes Marquette’s exclusive banking partner, replaces US Bank

    Business & Finance

    National Science Foundation grants new supercomputing cluster for Marquette

  • Town Bank becomes Marquette’s exclusive banking partner, replaces US Bank

    Business & Finance

    MU expanding property holdings, acquiring vacant buildings east of I-43

  • Town Bank becomes Marquette’s exclusive banking partner, replaces US Bank

    Business & Finance

    College of business launches one of twenty programs in nation

  • Town Bank becomes Marquette’s exclusive banking partner, replaces US Bank

    Business & Finance

    Sodexo employee makes strides as entrepreneur with mobile barbershop pitch

  • Town Bank becomes Marquette’s exclusive banking partner, replaces US Bank

    Business & Finance

    Foxconn kicks off Smart Cities-Smart Futures competition with Marquette

  • Town Bank becomes Marquette’s exclusive banking partner, replaces US Bank

    Business & Finance

    Art exhibit part of larger neighborhood initiative

  • Town Bank becomes Marquette’s exclusive banking partner, replaces US Bank

    Business & Finance

    Student run blockchain lab to host second conference

  • Business & Finance

    JC Penney Suit-Up Event encourages job preparedness

  • Town Bank becomes Marquette’s exclusive banking partner, replaces US Bank

    Arts & Entertainment

    PURE to hold color-themed dance showcase Sunday

  • Town Bank becomes Marquette’s exclusive banking partner, replaces US Bank

    Sports

    Women’s basketball looks to improve defense from last season