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Queen’s has signed a five-year deal with CIBC that will bring new automated bank machines to campus, along with revenue to the Alma Mater Society (AMS), the Engineering Society (EngSoc), and the university that will enhance the student experience.

“The AMS is confident that following the RFP process, switching to CIBC is within the best interest of Queen’s students,” says AMS Vice-President Operations Nicola Plummer. “While we understand that this will affect students who currently bank with TD, we look forward to working with CIBC as our new provider to address these concerns and ensure a smooth transition.”

The eight existing TD bank machines on campus will switch to CIBC in mid-August. The locations will remain the same: JDUC, Clark Hall Pub, BioSciences, Mac-Corry, the Queen’s Centre, Botterell Hall, Victoria Hall, and the Jean Royce residence on West Campus.

Provincial directives for the broader public sector require that this kind of contract go to public tender. Seven proposals were received and an evaluation committee of representatives from the AMS, EngSoc and the university unanimously selected CIBC. The university’s Strategic Procurement Services oversaw the process.

“CIBC’s proposal included the best student banking package and the revenue flowing to the university will go exclusively to support our ,” says Vice-Principal (Finance and Administration) Caroline Davis. “While the change may be inconvenient for some, there are significant benefits to students.”

CIBC offers no fee banking with unlimited transactions for domestic and international students, a no-fee VISA card for students, an education line of credit, and mobile banking solutions.

“We are very excited to enhance our relationship with Queen’s students, faculty and staff by increasing our presence on campus this fall,” says CIBC’s Kingston District Vice President Laurie Freeman. “CIBC has a fantastic student banking offer which includes a no-fee student bank account with unlimited transactions, including ABM transactions at CIBC ABMs. We welcome the opportunity to talk to students on campus this fall or at one of our three Kingston-area branches.”

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