The
University of Houston Chooses Higher One’s “OneAccount” Banking Solution
and Greatly Expands the Functionality of Its One Card
Houston,
TX– January 25, 2002- The University
of Houston (UH) has chosen Higher One, to provide its “OneAccount” banking
solution to all faculty, staff and students. Higher One is a financial services
firm focused exclusively on creating customized solutions for the higher
education market.
Effective
with the fall semester, the “OneAccount” will be automatically offered as a
benefit associated with the UH Cougar 1Card program. This benefit will provide
easy access to banking services linked to the Higher One’s customized
financial system, the university’s administrative reimbursement system and its
Cougar 1Card flex account.
Currently,
the university’s Cougar 1Card requires faculty, staff and students to make
advanced deposits to their accounts before purchasing merchandise on campus. The
“OneAccount”
will enhance the Cougar 1Card. The OneAccount may serve as a primary bank
account, allowing cardholders to use their Cougar 1 cards to complete
transactions anywhere, anytime.
The
card will function as a “Visa debit card” and be accepted by over 14 million
merchants worldwide. Cardholders can get cash from ATMs, write checks, send and
receive money electronically from their accounts and monitor the details of
their accounts online.
The
service will make it possible for UH to disburse financial aid refunds
electronically to the accounts of student cardholders and to electronically
deposit payroll checks of university employees, which will result in increased
efficiency and cost savings.
The
relationship between Higher One and UH will significantly benefit the 33,000
students attending the university.
“I
have been involved with several sophisticated one card programs, including two
of the leaders in this area: Florida State University and University of
Michigan. I am very excited about our relationship with Higher One. Their
innovative ‘OneAccount’ banking solution will positively serve both our
students and the university while further establishing UH as a pioneering leader
in the higher education community,” said Randy
Harris,
UH vice president for administration and finance. “With the ‘OneAccount’
service our university will benefit from significant cost savings while our
students, faculty and staff will gain from vastly increased functionality and
convenience through the enhanced Cougar 1 program.”
“We’re
very excited to be working with the University of Houston, ” commented Higher
One Sales VP Walter Hinckfoot. “They’re an industry leader in student and
administrative services. The fact that they have chosen to work with us is a
powerful vote of confidence in the value we can bring to a higher education
institution.”
About
the University of Houston
The University of Houston, Texas’ premier metropolitan research and teaching
institution, is home to more than 40 research centers and institutes and
sponsors more than 300 partnerships with corporate, civic and governmental
entities. UH, the most diverse research university in the country, stands at the
forefront of education, research and service with more than 33,000 students.
For
more information about UH, visit the university’s ‘Newsroom’ at www.uh.edu/admin/media/newsroom.
About
Higher One
Higher One provides customized private label and one card banking relationships
to higher education institutions. The company’s solutions help university
partners reduce administrative costs, streamline business processes, increase
revenue opportunities, improve the student experience, and strengthen the campus
community. The company is led by a team of executives with backgrounds in higher
education, finance, banking, and entrepreneurship. Fred Frank, Vice Chairman of
Lehman Brothers, John Griswold, VP for External Communications for the
Commonfund, and other leaders in higher education and finance serve as advisors
to the company. David Cromwell, the former CEO of JP
Morgan
Capital serves on Higher One’s board.
For
Higher One, Inc. press inquiries, contact:
Mark Volchek, CEO
mvolchek@higherone.com
203-776-7776
122 Court St.
New Haven, CT 06511
For University of Houston press inquiries,
contact:
Michael Cinelli
macinelli@central.uh.edu
713-743-8155
304E McElhinney Hall
Houston, Texas 77204-5017