The $43 million credit union, founded by a group of Boston University employees and now serving employees at a dozen Boston area colleges, has asked state regulators for permission to serve as many as 100,000 students at those schools, as well.
"We’ve talked about it for a lot of years, about including students; we thought it was time," William Sinibaldi, president of the credit union told The Credit Union Journal yesterday.
The inclusion of students follows similar trends at college credit unions across the river at Harvard and MIT, which expanded from employees to students in recent years, said Sinibaldi.
University CU, which is located on the campus of Boston University, was originally called Boston University CU and now serves employees of Boston College, Tufts, Bentley, Berkeley College of Music, Fisher, Lesley, Suffolk, Newberry and several others.
If the expansion is approved by the Massachusetts Division of Banking, plans are to step lightly into the student market at first, said Sinibaldi. Initially, they will market to incoming freshmen at B.U. "We’re just going to take little steps at first," he said.
