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BMO and UC Berkeley: A New Era of Financial Partnership

In an exciting development for the UC Berkeley community, BMO has officially been named the Official Bank of UC Berkeley through a groundbreaking five-year agreement that commenced on July 1, 2025. This strategic partnership builds on BMO’s preceding relationship with the university, further solidified by its acquisition of Bank of the West back in 2023. The collaboration aims to elevate banking services while enhancing financial wellness for students, staff, faculty, alumni, and the surrounding community.

Kelly Sparks, vice chancellor for finance and chief financial officer at UC Berkeley, expressed enthusiasm about this partnership, highlighting how it aligns with the university's commitment to innovation and accessibility in financial services. “BMO is a purpose-driven bank. Our collaboration goes beyond simply providing banking services; it’s about equipping our community with the necessary knowledge and tools for informed financial decision-making,” stated Sparks. His remarks signal a mutual recognition of the growing necessity for more proactive financial education in academic environments.

BMO's Vice Chair in California, Halé Behzadi, shared her optimism about the partnership as well, emphasizing the bank's goal to foster meaningful change. “We’re eager to create a positive impact across the campus. By engaging students and young professionals right where they are in their financial journey, we can make a substantial difference,” Behzadi remarked. This shared vision reflects a commitment to empower individuals across the university with resources that can lead to lasting financial growth.

The agreement amalgamates BMO’s rich history of community engagement with UC Berkeley’s stellar reputation as one of the world's leading public universities. As part of this partnership, BMO is poised to continue offering low-fee banking options to students, including the Smart Money Checking account certified by the national Bank On initiative, and various savings accounts. Enhanced digital banking tools will also come into play, aimed at ensuring convenience and security for all users.

Moreover, faculty and staff will benefit from comprehensive financial wellness resources through BMO’s Bank at Work program, facilitating access to tailored seminars and financial guidance from representatives on campus. The continued operation of BMO’s full-service branch in the Martin Luther King Jr. Student Union, coupled with on-campus ATMs, guarantees seamless banking access for the Berkeley community. With over 40,000-fee-free Allpoint® ATMs nationwide, BMO is ensuring that its services remain accessible to all account holders.

Central to this partnership is an increased focus on financial education. BMO has become the “Official Partner of the UC Berkeley Center for Financial Wellness,” a role that enables the bank to expand its interactive workshops, personalized financial coaching, and integration into essential programs such as first-year student orientation and career development. Furthermore, prominent campus events including Caltopia and Cal Day will be avenues for BMO activations, inviting students to engage with banking services that can foster long-term financial success.

BMO's commitment to the ongoing financial empowerment of the UC Berkeley community exemplifies a proactive approach to addressing today’s financial challenges. By providing essential resources and support, this partnership aspires to nurture a financially confident campus culture.

With a legacy spanning over 200 years, BMO remains steadfast in its purpose: to “Boldly Grow the Good.” As the seventh-largest bank in North America, BMO aims to create positive change and prosperity within communities while offering a diverse array of banking, investment, and financial products to around 13 million clients across Canada, the United States, and beyond.

UC Berkeley, founded in 1868, continues to uphold its mission as a renowned institution dedicated to education, research, and public service, with a vibrant community of over 45,000 students and a distinguished faculty that includes nearly 60 Nobel laureates. This partnership with BMO stands as a testament to their commitment to innovation, resilience, and a brighter financial future for all members of the campus community.

In conclusion, the BMO-UC Berkeley partnership heralds a new era of banking that emphasizes not just transactional services, but a shared objective of educating and empowering individuals within the campus sphere, setting a precedent for other educational institutions to follow suit.