¹ú²úÂ鶹AV University > Retail Banking Agreement

Retail Banking Agreement

¹ú²úÂ鶹AV University (¹ú²úÂ鶹AV) entered into a retail banking services agreement with Wintrust Bank (Wintrust) on June 23, 2017, amended on December 13, 2022. The agreement makes available optional banking services to students and others in the ¹ú²úÂ鶹AV community. The agreement does not include services related to the disbursement of Title IV credit balance refunds to students. The relationship between the parties arising under this agreement constitutes a Tier Two Arrangement subject to regulation by the U.S. Department of Education (see 34 CFR 668.161-167 via the Federal Register on October 30, 2015).

The link to this agreement and amendment are here:

¹ú²úÂ鶹AV and Wintrust Banking Services Agreement

The regulations require ¹ú²úÂ鶹AV to disclose the major features and commonly assessed fees for the Wintrust student accounts. on this. 

In compliance with the reporting requirements of these regulations, ¹ú²úÂ鶹AV discloses the following information for the award year ending 2023:

Total number of customers holding student banking accounts which were open at any time during the award year ending 2023 1,929
Mean student costs* $1.32
Median student costs* $4.98

*All student costs notated above were the result of account dormancy fees.

¹ú²úÂ鶹AV and Wintrust do not receive or pay any consideration, either monetary or non-monetary, under this agreement.

Note that these banking services are entirely at the option of students at ¹ú²úÂ鶹AV University. Students are NOT REQUIRED to have a bank account with Wintrust Bank to receive financial aid or any refunds from the​ university.