BMO announced it has signed a new five-year agreement with UC Berkeley, designating it the Official Bank of UC Berkeley, building on a successful relationship that began with BMO’s acquisition of Bank of the West in 2023. The new partnership, which began July 1, 2025, introduces expanded banking services with an emphasis on digital convenience, enhanced financial wellness programming and new initiatives to support students, faculty, staff, alumni and the surrounding community.
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“Our partnership with BMO builds on UC Berkeley’s tradition of innovation while meeting today’s needs for accessible, forward-thinking financial services,” said Kelly Sparks, vice chancellor for finance and chief financial officer at UC Berkeley. “BMO is a purpose-led bank, and this relationship is about more than providing banking services—it’s about empowering our students, faculty, staff and alumni with the knowledge and tools to make informed financial decisions and fostering a financially confident campus community.”
“BMO is proud to be the Official Bank of UC Berkeley, and we look forward to partnering to create meaningful, lasting impact across the campus and the broader community. We’re excited to help students and young professionals make real financial progress by meeting them where they are and making financial education relevant to their current stage of life,” said Halé Behzadi, Vice Chair, California, BMO. “BMO’s Purpose is to Boldly Grow the Good in business and life, and working with UC Berkeley demonstrates our belief that progress happens when we invest in people, education, and opportunity.”
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The partnership reaffirms BMO’s commitment to the campus and reflects the outcome of a thorough review process led by University Business Partnerships & Services and the university’s Financial Services Working Group, a committee of student, staff and faculty representatives.
BMO will continue to offer students low-fee accounts, including Smart Money Checking certified by Bank On, a national initiative that sets standards for affordable, accessible banking options savings accounts and enhanced digital banking tools designed for convenience and security, including access to BMO’s SmartProgress platform.
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For faculty and staff, BMO will offer financial wellness resources through its Bank at Work program, which includes access to SmartProgress, seminars and personalized guidance from on-campus representatives. BMO will continue to operate its full-service branch in the Martin Luther King Jr. Student Union and maintain on-campus ATMs, providing convenient access to banking resources alongside access to more than 40,000 fee-free Allpoint ATMs nationwide.
A cornerstone of the new relationship includes an increased emphasis on financial education. As the “Official Partner of the UC Berkeley Center for Financial Wellness,” BMO will expand resources for interactive workshops, personalized financial coaching and integration into first-year student orientation and career development programs. Large campus events, including Caltopia, Cal Day, Golden Bear Welcome and Golden Bear Orientation, will also feature BMO activations that provide students with opportunities to engage with banking tools and explore resources that support long-term financial well-being.
With a history spanning more than 200 years, BMO brings its longstanding commitment to community and financial empowerment to UC Berkeley equipping students, faculty, staff and alumni to navigate today’s financial challenges, strengthen their financial confidence and achieve lasting financial success.
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Source : prnewswire