Hills Bank Named As UI Financial Services Provider
IOWA CITY, Iowa - Hills Bank and Trust Co. was named as the University of Iowa's financial services provider Friday, as part of a five year contract.
The contract provides for two Hills Bank campus branch locations one each at the Iowa Memorial Union and at the Hospitals and Clinics the university said.
"It is anticipated that the transition to Hills Bank will begin immediately and take place over the next few months," the university said in a prepared statement.
A five-year contract with the University of Iowa Community Credit Union expires Dec. 31.
The university noted the new agreement with Hills, Iowa-based Hills Bank specifies that all current UI and UI Hospitals and Clinics surcharge-free ATMs will remain surcharge-free.
"In addition, this contract provides the option for students and employees to link their university ID card with a Hills Bank checking account, which enables them to use their card for ATM and PIN-based debit transactions," the university said.
Five financial institutions submitted proposals, according to the university.