One of the more noticeable changes on campus at Colorado Mesa University this year is the university’s switch from Wells Fargo to US Bank. The switch has proven to be a burden on many students, myself included, as I have been a faithful customer of Wells Fargo for many years.
One can’t help but wonder if the bank switch has something to do with the ongoing Wells Fargo scandals. While the scams have never affected me or anyone I know, many Wells Fargo customers nationwide are quite anxious. For those of you who are in the dark, back in May of 2011, Wells Fargo was fined $185 million for illegally opening customers’ bank accounts and credit cards.
With that in mind, I now understand why CMU may have felt it was time for a change on campus. But, I am still a client of Wells Fargo, and I like the way my bank has always treated me. I was glad to arrive at CMU my freshman year and discover that my bank was right here on campus. I never had to walk far from home to deposit a paycheck, and I always knew that there was a free “dum-dum” waiting for me.
Now that US Bank has moved in, I have the option of either switching banks, paying extra to use an ATM, or driving downtown to take care of my banking that can’t be done electronically.
Unlike me, some students may not be so picky. They might be glad just to have an ATM on campus, even if it means paying a little extra to use it. Freshman Colin Peterson isn’t a customer of US Bank, but he enjoys the convenience of the ATM.
Peterson said, “It’s nice ’cause they don’t have the chip, which is so much easier, ’cause you just slide your card. It’s convenient for me.” When asked if he had any preference between the two banks, he shook his head ‘no.’ Peterson continued, “But, Wells Fargo kind of screwed up my family back home, so I guess I’d choose US Bank over Wells Fargo.”
Whatever was going on at Wells Fargo on a larger scale, the fact that it affected students on CMU’s campus makes the scams seem closer to home. However, some students on campus, myself included until recently, aren’t even aware that Wells Fargo has any kind of infamous backstory.
Sophomore Sarah Lease said, “I liked having Wells Fargo here. It was convenient. It’s really inconvenient now, ’cause I do most of my banking online, but occasionally you do have to go in, and it was nice to be able to do it between classes.” With a laugh, she added, “I guess the switch made me healthier, ’cause now I have to ride my bike to the bank!”
Andy Guerrero, 3rd floor RA in Monument Hall, was also left disappointed to learn that the university would no longer be using Wells Fargo. Guerrero said, “I think most students on campus use Wells Fargo and not US Bank.” This seems true; the easiest way to find a student on campus who uses US Bank is to watch who uses the ATM.
But, Guerrero continued, “I accept what the university has done. If it’s better for their success, then all I have to do is support my university.”