8:22 a.m., Feb. 9, 2010----The University of Delaware and PNC Bank, N.A., announced today a new seven-year contract, providing an emphasis on money management and financial responsibility for the more than 20,000 students at the University.

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This alliance school agreement will also include a new electronic financial service center in the Trabant University Center. The center will feature an on-site customer service representative and three advanced function ATMs -- in addition to nine on-campus PNC ATMs.

“Through this relationship with PNC, which is highly regarded as the nation's fifth largest bank, we are able to provide our campus community with access to proven money management tools and to the education necessary to develop successful financial habits,” said Richard Elliott, assistant vice president of treasury services for the University of Delaware.

Other features to be provided will include:

• Personal banking products and services including Virtual Wallet Student (an online banking solution specially designed to help college students help themselves with money management). Students will also benefit from PNC AutoAlerts via e-mail and/or text message to help monitor spending and account balances.
• The option for students to link the newly-redesigned University of Delaware i-card (identification card) to PNC accounts, adding ATM and purchasing functionality to the card used for daily campus-related purposes such as entering residence halls, checking out library books and accessing meal plans.
• Customized Web sites, hosted by PNC, where students and employees can complete account applications, manage their finances and find financial and educational information.

“We are ready to provide the students and employees of one of the state's leading institutions with user-friendly PNC resources to meet their personal banking needs,” said Connie Bond Stuart, PNC regional president, Delaware. “With our long history of serving the greater Newark community and with a majority of University of Delaware students from areas where PNC serves as their trusted bank, we are able to make it easier and more convenient for students to manage their money at home and at school.”

The University of Delaware, located in Newark, Del., was founded in 1743 and offers more than 100 academic majors across seven colleges with a distinguished faculty that includes internationally renowned scientists. The University of Delaware is classified by the Carnegie Foundation for the Advancement of Teaching as having very high research activity -- a designation accorded fewer than 3 percent of U.S. colleges and universities.

PNC has relationships with more than 100 schools across a 14-state region.

PNC Bank is a member of the PNC Financial Services Group, Inc. PNC is one of the nation's largest diversified financial services organizations providing retail and business banking; residential mortgage banking; specialized services for corporations and government entities, including corporate banking, real estate finance and asset-based lending; wealth management; asset management and global fund services.

For more about the new contract and what it will mean for the campus community, see answers to frequently asked questions.