Washington State University Banking

Banking Relationships

WSU maintains relationships with a number of financial institutions to fulfill its banking and investment needs. Banking needs include the typical commercial checking account functions: depository for cash, clearing agent for checks, originating and receiving ACH (automated clearing house) transactions and wire transfers, processing stop payments. Investment needs include asset custody and asset management.

Checking Accounts

  • WSU’s primary provider of banking services is Bank of America (B of A), with relationship management and customer support delivered by B of A through its Seattle office.
  • WSU uses US Bank as the local financial institution to provide processing for local check cashing and payroll-related transactions. Relationship management is provided by US Bank through its CUB and Pullman branches.
  • Washington Federal furnishes depository and check clearing for WSU’s college bound program in Okanogan. Relationship management is provided by Washington Federal’s Seattle Office.
  • Washington Trust Bank provides depository services for WSU’s participation in the Assets for Independence program and relationship management through its Pullman branch.
  • Columbia Bank furnishes depository services to WSU’s IREACH staff in Seattle. Relationship management is provided by Columbia Bank’s Seattle Met Park branch.

Merchant Services

  • WSU participates in the state contract with Bank of America Merchant Services for merchant account and credit card processing services.

Investment Asset Custody

  • WSU participates in the state contract with Wells Fargo to provide custody services for the securities invested on behalf of WSU by Western Asset Management Company.