The Cardinal United SA Federal Credit Union, which opened in 2010, is closing its doors Friday, Feb. 14, in the Administration Building’s basement.
Dr. Shawn Daly, a former dean of the H-E-B School of Business and Administration, had the idea for a student-run credit union on campus around 2008, an enlisted Dr. Alicia Rodriguez, an assistant professor of banking and finance, to advise the union.
The first step in the process was to find a stable financial institution that would like to be involved in the first on-campus, student-managed credit union in San Antonio. That institution was United SA Federal Credit Union, a San Antonio-based company with then 32 locations in and around the city. United SA set up the space in the basement to look just like one of their official branches would.
Several students worked at the credit union over the years.
The target audience for the UIW branch started out to be members of the UIW community.
In a statement that’s been appearing in a daily newsletter produced by UIW’s Office of Public Relations, the credit union addressed the closing: “As a member-owned financial institution, United SA Federal Credit Union has a responsibility to all members to operate as efficiently as possible. As a result, we have made the difficult decision to permanently close the UIW Cardinal Branch effective Friday, Feb. 14, at 4 p.m.”