DePaul University (DePaul) entered into a retail banking services agreement with Wintrust Bank (Wintrust) on June 23, 2017, amended on December 13, 2022. The agreement makes available optional banking services to students and others in the DePaul community. The agreement does not include services related to the disbursement of Title IV credit balance refunds to students. The relationship between the parties arising under this agreement constitutes a Tier Two Arrangement subject to regulation by the U.S. Department of Education (see 34 CFR 668.161-167 via the Federal Register on October 30, 2015).
The link to this agreement and amendment are here:
DePaul and Wintrust Banking Services Agreement
The regulations require DePaul to disclose the major features and commonly assessed fees for the Wintrust student accounts.
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In compliance with the reporting requirements of these regulations, DePaul discloses the following information for the award year ending 2023:
| Total number of customers holding student banking accounts which were open at any time during the award year ending 2023 |
1,929 |
| Mean student costs* |
$1.32 |
| Median student costs* |
$4.98 |
*All student costs notated above were the result of account dormancy fees.
DePaul and Wintrust do not receive or pay any consideration, either monetary or non-monetary, under this agreement.
Note that these banking services are entirely at the option of students at DePaul University. Students are NOT REQUIRED to have a bank account with Wintrust Bank to receive financial aid or any refunds from the university.