Mirror - Vol. 06, No. 04 - September 05, 1982

              "The Image
of
Fairfield"
FAIRFIELD W \\ [MIRROR)
15
Nonprofit Organization
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Permit No. 34
Fairfield, Conn.
Volume 6, No. 4, Sunday, September 5,1982 Fairfield University, Fairfield, Connecticut 06430 Incorporated 1977
Automatic Teller Replaces Cashier tan t
by Mary-Margaret Walsh
Executive Editor
For the first time, Fairfield University will not pro-vide
a cashier service for students, faculty and Uni-versity
personnel. State National Bank of Connecti-cut
has purchased and installed their "first Universi-ty"
branch of the Bankey unit. The $40,000 automatic
teller machine is located on the basement floor by
the gameroom in the Campus Center.
During the summer, Fairfield University employees
and students received brochures and applications
specifying the accounts available to Fairfield ap-plicants.
The Bankey unit will be available for all cash ser-vices
whenever the Campus Center is open. In order
to operate the Bankey unit, applicants must obtain a
checking or savings account with State National. Ap-proved
checking account applicants will receive a
plastic card to insert into the Bankey to process
deposits, transfers and cash withdrawals.
There will be a 25* maintenance fee on all cash
withdrawals. The Fairfield University Bankey unit is
the only State National Bankey unit to charge this
fee. There will also be a standard maintenance fee of
$4.00 for the month when a Bankey customer does
not meet the requirements of maintaining a minimum
balance of $300 In the Checking account or $600 in
the Savings account."
The Bankey unit is programmed to give a cash with-drawal
minimum of $20 and a maximum of $300 in a
24 hour period.
Demonstrations and applications are currently be-ing
accepted by State National Bank's Trainer Coor-dinators,
Gerry Levine and Sandra Sadie, at
Fairfield's Bankey. Applications will take approxi-mately
one week to process.
When asked about the anticipated Student prob-lem
of no longer being able to cash checks from
BANKING
1ENTER
home accounts and parents, John M. Hickson, Vice
President of Finance at Fairfield University stated
that "it was not the University's responsibility to pro-vice
a financial crutch to Fairfield students."
According to Hickson, over the past three years,
Fairfield University has approached several banks
with the proposal of opening a new cashier system.
State National bank was the only bank to accept Fair-field's
offer.
Fairfield University has had several business rela-tionships
with the State National Bank of Connecti-cut.
According to James P. Flaherty, Executive Vice
President of State National Bank, the banking ser-vices
provided over the past years entails several ac-counts,
payables and payrolls. In addition, State Na-tional
Bank has financed Fairfield University in
numerous areas. Flaherty listed the purchase of the
state bonds for the new townhouses, supporting Uni-versity
activities and sponsoring televised basketball
games. The president of State National Bank of Con-necticut
is also a member of the University's Board
of Trustees.
Flaherty explained the 25* maintenance fee for
cash withdrawals: "The bank established this fee on
the basis of internal cost measuring and on the antic-ipated
high level usage of an estimated 4,500 ac-counts
at Fairfield's Bankey unit which will require a
daily maintenance check." Flaherty also stated that
State National would be willing to look into changing
the maintenance fee by raising, dropping or main-taining
the current fee.
Flaherty feels that the new Bankey unit provides
"a very good convenience" for the university. But
continued by stating that the Bank does "make
money by providing a service."
Although Hickson stated that he was concerned
with reactions to the new system, he was confident
that within several months the students will be very
happy with Bankey."
Representatives from State National Bank, (i-r) Sandra Sadie and Gerry
Levine, demonstrate how to use the new Bankey service located in the
Campus Center basement. Bankey replaces the Cashier's office once
found in Canlsius. [Photo by Kevin Kumke]
New Drinking Age
State Law Forces
Policy Change
by Jill Krusinski
Editor-in-chief
With the legal drinking age peg-ged
at 19, 54% of the student
body which are living in on-cam-pus
dormitories are now unable to
drink alcohol in Connecticut.
During the fall semester of last
year, the legal age of 18 only ex-cluded
a handful of 400 students.
But with the percentage of minors
increased to over 50% the univer-sity
hasr moved to amend their
rules and regulations governing
social events on campus involving
alcohol.
As Mr. James Fitzpatrick, Direc-tor
of the Campus Center and Uni-versity
Activities explained, "We
Continued on page 2
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SPECIAL ISSUE
(photo by Kevin Kumke and Vincent DeAngelis)