By COLLEEN HUBER
BB&T is replacing the Virginia Credit Union (VACU) ATM in Lee Hall in late October.
The machine will be installed on Oct. 18 and will be ready for use the following day, Oct. 19, according to Rick Pearce, vice president for administration and finance.
VACU used to have an ATM on campus for more than 10 years in the Woodard Campus Center. However, federal laws concerning accessibility and security were tightened, and the ATM provided by the VACU did not meet the new requirements.
Along with not meeting the new requirements, VACU chose not to renew their terms with UMW because the money and number of transactions occurring at the ATM on campus were not sufficient to sustain the VACU, according to Pearce.
Pearce put out a request for a proposal, a public document that gave a description to the public of the University’s interest in obtaining a new ATM, to several different banks and received responses from seven different banks, but BB&T provided the best response in terms of pricing.
“Everyone else was higher than $2 for non-member transactions,” said Pearce.
The campus will have only one ATM for the time being for a simple reason, according to Pearce.
“Not many people use ATMs anymore, but we felt like we needed to provide that service particularly for freshmen,” said Pearce.
Freshmen are unable to have cars on campus and so they do not have the luxury of going off-campus easily to banks to extract money. They need some sort of resource to get funds and emergency money, according to Pearce.
To make students aware of BB&T and the new ATM, an informational event will be held in the near future where students can sign up for free checking with BB&T and learn more about the bank. The date has not yet been decided, but will soon be posted on EagleEye and in the Student Activities Newsletter, according to Pearce.
The ATM will be placed in Lee Hall right outside the bookstore where it can be accessible for students.
“The purpose of the ATM is to help students,” said Pearce.