University Of Minnesota Collects $1M Annually In Student ID Card Arrangement With TCF Bank

The University of Minnesota collects more than $1 million a year helping a Minneapolis-based bank recruit its students as customers. Around 85 percent of incoming UMN freshmen open a TCF account, according to ABC News, and the university nabs bonus payments of $34 for each student that opens an account. In addition, incoming freshmen are given university branded T-shirts with the TCF logo on the back, and students who deposit more than $50 are promised a free UMN sweatshirt. UMN confirmed the $1...