A student-run branch of Rogue Credit Union will open on the Umpqua Community College campus in fall 2019 as part of the credit union’s Campus Branch program.
A section of the bookstore will be renovated by RCU during the summer to accommodate the credit union and would be open the same hours as the bookstore.
The branch would function just as any other, with the opportunity for students and staff to cash checks, deposit money or any other transactions.
The program was introduced to board members Wednesday by Dean of Student Services April Hamlin at the board meeting, where several of the board members warned about the inherit risks that come with this program.
RCU reached out to UCC to start the program, but some of the college’s programs receive grants and scholarships from other banking institutions, and board director David Littlejohn warned that “the optics are not as rosy as it appears” and that it might endanger already existing scholarships on campus.
College officials did not reach out to any other financial institutions to see if they had similar programs that could be implemented at the school. RCU has six high school campus branches and one college branch at Southern Oregon University.
Students hired to work at the branch would be supervised and mentored by an RCU employee, the branch will provide internship opportunities for students and scholarships will be made available to students working at the branch.
RCU will give students access to financial literacy materials and give students meaningful employment and experience in a not-for-profit financial industry, according to Hamlin.
UCC’s board of directors did not have a say in whether the branch would come to campus, because it is not a paid service for the college.