Baylor, Wells Fargo Bank To Partner In BearBucks ExpansionAug. 30, 2002
Baylor University will expand its popular BearBucks program for students this year and has named Wells Fargo Bank to administer the program and recruit area merchants to participate.
BearBucks works like a debit card system and allows Baylor students to use their ID cards to make purchases at Baylor facilities, such as the Baylor Book Store, and various stores and restaurants around Waco.
"The card is a secure and convenient way for students to make purchases, and it is a free service," said Connie L. Clark, senior vice president at Wells Fargo in Waco. "BearBucks can almost eliminate the need for students to carry cash and also serves as a valid photo ID for students."
A BearBucks account can be established in Baylor's Cashier's Office with a $50 minimum deposit. Additional deposits in $25 increments can be added to the account. Within a day of establishing the account, students can then present their ID cards at any of the locations accepting BearBucks, and the amount of the purchase will be deducted from the account.
"Previously, BearBucks could only be used at campus facilities, but last year we started a pilot program that enabled students to use BearBucks at seven vendors outside the Baylor campus," said Donna McGinn, director of cashier services. "The program was so successful, and the students loved it so much, that we wanted to expand it to include more outside merchants."
Wells Fargo Bank, which runs similar programs for Texas A&M University and Texas Tech University, hopes to recruit more than 40 merchants to participate in the program before the beginning of the fall semester and will continue to recruit vendors throughout the school year.
Participating merchants receive complete on-site training and the benefit of Baylor and Wells Fargo advertising that features BearBucks merchants. Wells Fargo maintains the accounts and equipment used to process purchases.
Wells Fargo & Co., celebrating its 150th anniversary in 2002, is a $315 billion diversified financial services company and has more than 500 locations in 174 Texas towns and cities.
For more information on the program or for a list of participating vendors, visit http://www.baylor.edu/Cashiers/bearbucks.html . Merchants who are interested in participating in the program can contact Clark at 714-6112.