South Bend bank opens university branch

1st Source Bank, South Bend, Ind., kicked off the school year by opening a banking center on Indiana University’s campus.

The ribbon-cutting ceremony on Aug. 14 featured speakers from the university and the bank, and celebrated the new banking products, services and education programs offered to the IU campus.

The IU South Bend Banking Center, open on weekdays from 10 a.m. to 4 p.m., provides educational advice as part of the bank’s Financial Wellness Series, which aims to empower customers with financial knowledge and confidence. Students, faculty and staff will learn how to keep a budget, save and invest for specific goals, borrow for a house or a car, protect their identities and more.

“We believe deeply in the power of education and the positive impact that it has on individuals, families and communities,” said 1st Source Bank regional president Kevin Murphy. “Serving those committed to education is an honor.”

The banking center, which is the $6 billion bank’s third branch set in the heart of a university, will also offer no-monthly-fee checking accounts for students and Easy Banking Club checking accounts for faculty and staff.

The staff at 1st Bank is a product of the university’s positive impact on the community, Murphy said, as many of its employees are Hoosier alumni themselves.

“We have a lot in common,” said IU South Bend Interim Chancellor Jann Joseph, speaking about the neighboring financial and academic institutions. “We contribute to the economic development of the region, we are local, and we want this region to thrive.”