Marion Bank to take over ESU site
Friday, July 24, 2009
Students at Emporia State University will see a change in the Memorial Union after the first of the year.
Starting Jan. 1, the Marion National Bank will assume banking duties for ESU students and will have a presence in the union, taking over from Lyon County State Bank.
Marion National Bank won the 5 1/2-year contract in a state bid, with the option to renew for another five years after the contract expires.
Community bank president Daryl Flager said there will be no disruptions in service to students, but those receiving financial aid will need to open a checking account with Marion National Bank in order to receive their money.
“After Jan. 1, the residual financial aid balances will come through Marion National Bank,” Flager said. “It will be imperative that students open their accounts.”
Flager doesn’t anticipate many differences in services currently offered at ESU. Other than changing accounts, it will be business as usual for students.
“We’re going to make the transition as seamless as possible for them,” he said.
Bank officials are meeting this week with a transition team at ESU to work out the details of the deal.
The Marion National Bank is a new presence in Emporia, having applied for authority to open a branch here in March. Flager said the process to open the Emporia branch has been smooth.
Approval for the branch comes through the Office of the Comptroller of the Currency, administrator of national banks for the U.S. Treasury Department.
In addition to its presence on the ESU campus, the Marion National Bank soon will be opening its main Emporia office at 701 Commercial St. The building currently is undergoing considerable remodeling to restore its 1930s appeal.
“I think the community is going to be really pleased with the new look,” Flager said, adding that he hopes to be able to open the office no later than the first of October.
In the meantime, Flager and the branch’s vice president, Chad Buchholz, have been making loans and offering certificates of deposit. They are not yet opening checking accounts or handling cash, and won’t until they get a door for their vault.
“It’s kind of imperative to have that to handle cash,” Flager said.
Bank officials are excited about their upcoming role at ESU, and look forward to being part of the Memorial Union renovation project currently being planned. Flager said included in the new union will be a new bank office.
“We felt like ESU is an integral part of the community, and we want to be a part of that,” Flager said. “We felt like it would be a good fit for us.”
sunshine (anonymous) says...
I don't know about other students but this really irritates me. So for students just starting they will have to change banks after only one semester. For me, and I'm sure other students like me, I have been with LCSB since I moved to this town nearly 7 years ago. I want to stay with my bank and I don't want to have 2 accounts. Why can't the financial aid be direct deposited into ANY account?? Will the new bank allow accounts to be set up as transfer accounts only and will it cost me some crazy fee to do this? This is not my choice to go to some other bank. I'd rather keep my loyalty to a bank that has done students and many others good for so long.
July 24, 2009 at 11:43 p.m. ( permalink | suggest removal )
Free4all (anonymous) says...
Why wont the school support Emporia hence the name Emporia State University. We see the ad's "Buy Emporia First" but yet we are forced to bank with an outside agency. This is one the most rediculous things I have seen from ESU and there proud of it. Are we not asked to pay a few dollars more to keep local venders around instead of going to Topeka, K.C., or Wichita? Should we not expect the same from our main income provider to the city?
This ranks right up there with the great idea of the round abouts to no-where land.
July 25, 2009 at 1:47 p.m. ( permalink | suggest removal )
biscuitboy (anonymous) says...
If I read the article correctly I believe it said something about Marion Bank winning the contract for five or so years. That tells me the reason for this change has more to do with the money it will put into ESU's pocket than any concern for the students....and that's probably also why the money can't be placed in any bank account.....not just the one on campus.
You dig in my mine....I'll dig in yours....and we'll give the students the shaft.
July 25, 2009 at 2:15 p.m. ( permalink | suggest removal )
barefootin (anonymous) says...
It was my understanding that the financial aide could be given to students in check form, it takes a few days longer to get the check versus having the money direct deposited, but it does give an option to having the school decide who the students bank with.
July 25, 2009 at 10:19 p.m. ( permalink | suggest removal )
sunshine (anonymous) says...
I will definitely be taking mine in check form. I think it takes a week longer and that can be a pain to a lot of people but I hope that many of the current students will consider waiting that week. New students coming in at semester won't know any different..but either way current students are going to be inconvenienced, why not have it at least on our own terms.
July 25, 2009 at 10:58 p.m. ( permalink | suggest removal )
justthinkin (anonymous) says...
It was a bid process - Lyon County lost the bid - maybe they shouldn't have been so concerned about their profit, and more concerned about their customers.
July 26, 2009 at 9:09 a.m. ( permalink | suggest removal )
admireed (anonymous) says...
Marion Bank is opening a branch in Emporia at 7th and Commercial so they are local. The contract between the bank and ESU surely is public information. Get a copy and see who pays who for what.
July 27, 2009 at 1:56 p.m. ( permalink | suggest removal )
sunshine (anonymous) says...
cracksinsack: Actually, there are two in my family going to ESU. So that means two of us opening up new accounts (if we were to choose to go that way). Unless they are going to change the rules you can receive your funds by check after the college deducts tuition, etc. If I were able to just set up the new account as a transfer account, maybe....no, probably not. I don't really relish the idea of having more than one account. It makes me feel a little more vulnerable to the hackers out there. I also don't like the idea of being forced to do something I don't want to do. I like choices...sorry, that is just how I am. I'll take the delayed check, what's one more week? No big deal, half the time it isn't direct deposited when they say it will be anyway. BTW....I'll be interested to see what costs go down at ESU, where will students be saving money.? I suspect that none will, but at least the college is saving a dime. Maybe I'm just being crabby, but it still irks me.
July 27, 2009 at 5:30 p.m. ( permalink | suggest removal )
sweetthing (anonymous) says...
I think you all are making a mountain out of a ant hill. Whatsa big deal with a second account anyway and besides it will probably takeya about 10 minutes to open it. Overreacting, maybe?? My folks know the people at marion bank and say there real nice! And yeah, I think ESU IS looking out for our best interests!
July 27, 2009 at 9:03 p.m. ( permalink | suggest removal )