ORLANDO, Fla.-The University of Central Florida has dumped Atlanta's SunTrust Bank as its official campus bank and is replacing it with locally based FAIRWINDS CU.

FAIRWINDS has won a five-and-a-half year deal to be the "official banking partner" of the 60,000-student school, and is set to open in the former SunTrust branch on campus.

UCF said FAIRWINDS outbid its rivals, including some big banks and UCF's own credit union (UCF FCU), to land the high-profile marketing deal with the U.S.' second-largest public university. SunTrust's 10-year contract with UCF expired earlier this year after a renewal deal couldn't be reached.

FAIRWINDS proposal includes a service that lets students use their university ID cards as debit cards to make purchases.

Subscribe Now

Authoritative analysis and perspective for every segment of the credit union industry

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.