Volume 92, Issue 26

Wednesday, October, 21 1998

bound and gagged


Finally! New bank machines hit campus

©Dipesh Mistry/Gazette

By Sharon Navarro
Gazette Staff

Those students tired of waiting at one of the University Community Centre's three bank machines will be happy that at least one line at Western will be getting shorter.

The University Student's Council and the Board of Governors have collaborated to install a fourth bank machine on the ground level of the UCC to provide more choice for students and to help alleviate the long lines.

Unlike the past, when the Bank of Montreal held exclusive rights to all automated tellers, the new bank machines will represent the Royal Bank and Bank of Nova Scotia. The Bank of Montreal's contract expired in April, allowing the USC to look at other financial institutions, said Jim Walden, general manager of the USC.

"The decision to choose these financial institutions was based on a number of criteria which reasoned to provide the most effective, yet lowest cost to students," Walden explained.

Walden added the Bank of Nova Scotia and the Royal Bank were chosen because they both have student loan programs.

He added the idea to diversify the financial institutions represented on campus originated, in part, from the student body. "There was a general question by students why the UCC didn't have more banking machines that supported student loan accounts."

Sean Kirby, public affairs advisor at the Royal Bank, said he is happy about the possibility of serving Western students. "It's great news from our perspective – since 1964, we've been the biggest lender of loans to Canadian students," Kirby explained.

Although suffering a loss, Denny Allen, senior manager of public affairs at the Bank of Montreal, expressed the importance of the student market. "We are dedicated to the financial needs of students and will do whatever we can to assist the university," Allen said.

Still, this level of enthusiasm is not shared by all students. Second-year psychology student Yasmine Zalacsaid she does not see what all the fuss is about. "I hardly ever really bank on campus," she explained.

Jason Valentine, a third-year economics student, said he realized the greater convenience and efficiency of adding another machine. "I hope the line-ups will be a lot shorter because I am sick of waiting in long lines."

The Bank of Nova Scotia machine was installed on the lower level of the UCC Monday and will be working by Friday. The Royal Bank machine should be in place by Oct. 29.

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Copyright © The Gazette 1998