Finally, students and faculty who have complained for semestersabout the absence of an ATM in the Tiger Den will get theirwish.
"An ATM here [in the Tiger Den] would be perfect, because theydon't take cards. It's a good idea," said art major Matt Burns,22.
To provide additional convenience for University of Memphisstudents and faculty, the Division of Business and Financeannounced Monday the placement of automated teller machines in twonew locations on campus, said Bob Gaston, director of BusinessDevelopment at The U of M.
Effective Nov. 1, 2003, First Tennessee will provide all ATMservices in the current University Center location, as well as inthe Tiger Den and Wilder Tower lobby.
For the past eight years, machines provided by Union Planters,First Tennessee and National Bank of Commerce have operatedrent-free in the UC lobby. But this year, The University offeredbids to 22 area banks and credit unions on a revised rent-chargedcontract to provide on-campus ATM services.
After bidding aggressively, First Tennessee Bank was awarded thecontract "based on an exclusive offer to put three ATMs on campus"for an undisclosed amount, Gaston said.
The agreement will generate much-needed income in light of statefunding decreases and provides a "creative new revenue source" inthe form of the rented space for The University, Gaston said.
First Tennessee plans to work hand-in-hand with First South,which provides full-service banking and ATM services in the V. LaneRawlins Service Court, Gaston said. Students with accounts ateither banks will have access to on-campus ATMs free of charge,while students who bank elsewhere will continue to pay a surchargefor ATM use.
"This will be good for The University, with two new locationsand two strong financial institutions on campus," Gaston said.
First Tennessee, Gaston said, has been a "good partner" for TheUniversity, providing scholarships and support for various programsand events.
The new machines will be located on the north wall of the WilderTower lobby outside the Bursar's office and on the west wall of theTiger Den dining room.
