Carolina Collegiate Federal Credit Union based in Columbia, SC may have the best possible customer base for a financial institution hoping to reach customers via Facebook. The University of South Carolina is the credit union's primary sponsor and has 41,000 students in their teens and twenties - exactly the demographic most at ease with Facebook and theoretically the most likely to use the site for financial transactions.
Last year, Carolina Collegiate adopted Fiserv's MyMoney application, which students can download onto their Facebook page and use to check balances, view transaction history, and make transfers. "We've always been viewed as high tech, and this is an extension of that," explains Helen Powell, vp of human resources and business development at the credit union. "Students are hard to reach, but I feel they will [do financial transactions on the site] if they know it is there."